The Indian stock market remained mostly muted on Tuesday, with Sensex and Nifty erasing early gains to close in the red after a sharp rally in the earlier session.
Sensex lost 70 points to close at 76,766, while Nifty 50 fell nearly 11 points to end the session at 23,985. Broader markets remained mixed, with Nifty Smallcap 100 closing in the red and Nifty Midcap 100 index ending in the green.
Here are today’s top gainers on Nifty
Here are today’s top gainers on Sensex
Here are today’s top losers on Nift
Here are today’s top losers on Sensex
The respite in crude oil prices provided relief to markets by easing concerns over inflation and input cost pressures, but investor sentiment remained cautious ahead of key central bank policy meetings this week, including those of the Fed, BoE, and BoJ, said Vinod Nair, Head of Research, Geojit Investments.
Persistent volatility in energy markets and heightened geopolitical risks could keep global bond yields elevated this year, he noted Nevertheless, expectations that major central banks will hold interest rates steady in their July policy meetings have offered some support to market sentiment.
“India's relative advantage under the revised US tariff framework further supported investor confidence. On the domestic front, improving monsoon conditions and moderately better Q1 FY27 earnings have strengthened the growth outlook. Sectoral trends remained mixed, with IT stocks continuing to outperform, supported by attractive valuations,” the analyst said.
Nifty 50 index remained range-bound during the day, with the regular monthly expiry volatility largely absent, Rupak De, Senior Technical Analyst at LKP Securities, said. Nifty closed around the 50 EMA for the second consecutive day, suggesting indecisiveness among traders.
“On the higher end, 24,050 remained a strong resistance, while on the lower end, support was seen around 23,920. A decisive move above 24,050 in the near term might provide the required strength for the index to move towards 24,500 in the short term. On the lower end, support is placed at 23,800,” according to the analyst.
