NEW DELHI: Indian equity markets gained ground on Tuesday, with the BSE Sensex rising by 148.80 points, or 0.19%, at 79,644.95, while the Nifty50 advanced 69.05 points, or 0.29%, at 24,210.35.
The upward trend followed a cautious start to the week on Monday when global cues, foreign institutional investor (FII) selling, and muted quarterly earnings reports kept gains limited.
On Monday, the BSE Sensex had ended almost flat at 79,496.15 with a minimal gain of 9.83 points. Nifty50 closed slightly lower by 6.90 points at 24,141.30 after a volatile session where both indices saw mid-session highs but remained under pressure due to cautious investor sentiment.
Among Tuesday’s top gainers were Tata Motors, Asian Paints, LIC, and Biocon, reflecting strong investor interest. As key earnings reports from major firms, including Oil and Natural Gas Corporation, Britannia Industries, Hindalco Industries, Shree Cement, and Bank of India, are awaited, investors remain vigilant, with Gift Nifty hovering around 24,130, suggesting cautious optimism.
Analysts point to market consolidation as a likely trend in the near term. Deepak Jasani, Head of Retail Research at HDFC Securities, remarked, “Nifty on the weekly chart formed a small negative candle with long upper and lower shadows, signaling a high wave pattern. The short-term trend remains choppy, with consolidation likely to persist with a weak bias.”
