Stock Market Overview
On Tuesday, Dalal Street witnessed a strong rally, with both key indices closing higher. The BSE Sensex rose by 319.78 points to settle at 81,857.48, while the NSE Nifty gained 126.75 points, ending at 25,175.40. Positive sentiment was driven by the announcement of the India-EU Free Trade Agreement, alongside heavy buying in banking and metal stocks. Strong cues from global markets further supported investor confidence.
During intraday trading, the Sensex touched a high of 82,084.92 and a low of 81,088.59, reflecting volatility in the market. The Nifty similarly saw an upward movement, reinforcing optimism among investors.
Top Gainers and Losers
Among Sensex constituents, Adani Ports, Axis Bank, Tata Steel, Tech Mahindra, NTPC, State Bank of India, UltraTech Cement, and Bharat Electronics recorded significant gains. On the other hand, Mahindra & Mahindra, Kotak Mahindra Bank, Asian Paints, ITC, and Eterna were among the underperformers.
Stocks Showing Strong Buying Momentum
Analysts observed robust buying activity in stocks such as Adani Enterprises, Axis Bank, JSW Steel, Adani Ports, and Grasim. Several of these shares have surpassed their 52-week highs, indicating bullish momentum and potential upside in the near term.
Stocks Signaling Weakness
The MACD (Moving Average Convergence Divergence) indicator has signaled weakness in stocks including Mahindra & Mahindra, Asian Paints, Kotak Mahindra Bank, Max Health, and Maruti Suzuki India Ltd., suggesting that these shares may be entering a short-term downtrend.
Disclaimer: The suggestions in this analysis reflect the views of individual analysts or brokerage firms and do not represent Navbharat Times. Investors are advised to consult certified financial experts before making any investment decisions, as stock market conditions can change rapidly.
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