Mumbai: Indian stock markets ended Tuesday's trading session almost unchanged as gains in pharmaceutical, realty and media stocks were offset by selling pressure in banking and financial shares. The BSE Sensex declined 8.08 points, or 0.01%, to close at 73,598.87. The NSE Nifty 50 slipped 3.45 points, or 0.02%, to settle at 22,749.75.
Broader Markets Rally
Despite the flat closing of benchmark indices, broader markets witnessed strong buying interest. The Nifty Midcap 100 gained 1%, while the Nifty Smallcap 100 jumped 2.70%, outperforming the Sensex and Nifty. Sectorally, media, realty and pharmaceutical stocks emerged as major gainers, with their respective indices rising between 2% and 3%. However, private banking and financial services stocks remained under pressure.
Top Gainers And Losers
Among Sensex stocks, Bharti Airtel, Trent, Maruti Suzuki, Power Grid Corporation and Eternal emerged as leading gainers. Meanwhile, SBI, Axis Bank, Tata Consultancy Services (TCS), Asian Paints and HDFC Bank were among the major losers. Selling in banking and technology stocks restricted the recovery in benchmark indices.
Nifty Technical Outlook
Market analysts said the Nifty recovered from lower levels and closed above its 20-day moving average and 200-week moving average, indicating buying support. However, resistance near 22,800 continues to limit further gains. The immediate support level stands at 22,600, while a sustained breakout above 22,800 could push the index towards 23,000. Analysts expect a sideways to mildly positive trend in the near term.
Market Outlook
Investors will closely monitor corporate earnings, Brent crude oil prices, geopolitical developments in West Asia and the US Federal Reserve's monetary policy decision. Market experts believe stronger quarterly earnings could support sentiment, although global uncertainty and elevated crude prices may restrict gains. Traders are advised to monitor key technical levels amid continued market volatility.
