New Delhi: Indian stock markets continued their upward momentum on Tuesday, marking the third consecutive session of gains. Supported by strong global cues and rising optimism over a possible India-US trade agreement, benchmark indices ended in the green despite profit-booking at higher levels.
The BSE Sensex climbed 208.17 points (0.25%) to close at 84,273.92, while the NSE Nifty gained 67.85 points (0.26%), settling at 25,935.15.
During the session, the Sensex touched an intraday high of 84,482.95, while the Nifty surged to 25,989.45, reflecting sustained investor confidence.
Top Sensex Gainers
Several heavyweight stocks supported the rally, including:
- Eternal
- Tata Steel
- Mahindra & Mahindra
- Power Grid
- Tech Mahindra
- NTPC
- Larsen & Toubro
- Tata Consultancy Services (TCS)
- Maruti Suzuki
- Axis Bank
- Titan
- Hindustan Unilever
Stocks That Dragged the Market
On the downside, selling pressure was witnessed in:
- HCL Technologies
- Bajaj Finance
- Bharti Airtel
- Asian Paints
- HDFC Bank
- UltraTech Cement
- Adani Ports
- ITC
Strong Buying Seen in These Shares
Market analysts noted strong buying interest in select stocks that have crossed their 52-week highs, indicating bullish momentum and the possibility of further upside.
Stocks showing strong breakout signals include:
- Tracxn Technologies
- Edelweiss Financial
- JM Financial
- Swiggy
- BSE
- Praj Industries
- BEML
The breakout above 52-week highs is widely considered a positive technical indicator, often suggesting that investors are accumulating these stocks and expecting further gains.
Bearish Signals in These Stocks
Meanwhile, the MACD (Moving Average Convergence Divergence) indicator has turned negative for several stocks, pointing towards weakening momentum and possible downside risk.
Stocks showing bearish signals include:
- HCL Technologies
- Bajaj Finance
- Bharti Airtel
- Aurobindo Pharma
- Welspun Living
- eClerx Services
- Jyoti CNC
- Navin Fluorine
- Gokaldas Exports
Analysts believe that these counters may witness further correction as selling pressure increases.
Market Outlook
With global markets stable and investors closely watching developments related to the India-US trade deal, sentiment remains optimistic. However, experts caution that profit booking at higher levels could lead to short-term volatility.
For now, stocks hitting new highs such as JM Financial and Swiggy are expected to remain in focus, while traders may remain cautious on counters showing technical weakness.
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