Mumbai– Indian equity markets closed modestly higher on Tuesday after a volatile trading session, with investors focusing on stock-specific moves amid ongoing geopolitical tensions and concerns over potential U.S. tariff actions.
The BSE Sensex opened with a gain of nearly 180 points at 80,396 and climbed to an intraday high of 80,661. However, gains were short-lived as the index slipped into negative territory, hitting a low of 80,122 — a drop of 539 points from the day’s peak. Despite the swings, the index recovered in the final hours and ended the day 70 points higher at 80,288, up 0.1%.
Similarly, the NSE Nifty opened positively at 24,370 and touched an intraday high of 24,457 before encountering selling pressure at higher levels. The index fell to a low of 24,290 but managed to close with a marginal gain of 7 points at 24,336.
“Investors remained cautious as they assessed the potential fallout from President Donald Trump’s proposed tariffs,” said Sundar Kewat of Ashika Institutional Equity. “Attention is now turning to upcoming corporate earnings and key economic data from the U.S. to gauge the broader impact on market sentiment and economic momentum.”
Among the top gainers were Tech Mahindra, Eternal (formerly Zomato), HCL Technologies, Bajaj Finserv, Infosys, and TCS — all rising between 1% and 2%. On the downside, UltraTech Cement and Sun Pharma each fell 2%, while Kotak Mahindra Bank, NTPC, SBI, and Nestle India also closed in the red.
In the broader market, the BSE MidCap index edged up 0.2%, while the SmallCap index gained 0.1%.
Sectorally, IT and Capital Goods stocks outperformed, with both BSE indices rising 1%. In contrast, the Metal index lost 1%, and the Power and Bankex indices slipped 0.5% each.
Technically, the Nifty’s formation of a “shooting star” candle on the daily chart suggests selling pressure at higher levels, said Hrishikesh Yedve of Asit C. Mehta Investment Intermediates Ltd. (a Pantomath Group company).
“The 24,460 mark remains a short-term resistance. Sustaining above this level could trigger a rally toward 24,800–24,850. On the downside, key support is around the 200-day Simple Moving Average at 24,050, followed by 23,850. Traders should keep an eye on these levels for potential opportunities,” he advised. (Source: IANS)
