Tuesday’s benchmark stock market indices reached new heights, but volatility remained a significant factor throughout the session despite the Middle East’s growing geopolitical tensions. The NSE Nifty50 rose by 29.15 points to settle at 25,968.20 at 10:05 AM, while the S&P BSE Sensex gained 80.74 points to reach 85,009.35. The majority of the broader market indices were trading in positive territory, which added to the overall gains on Dalal Street.
Nifty Bank, Nifty Financial Services, and Nifty IT were among the important sectoral indices that faltered and saw losses. Tata Steel, Hindalco, Power Grid, JSW Steel, and M&M were among the top performers on the Nifty50; the largest laggards were LTIM, HUL, Bajaj Finance, Kotak Mahindra Bank, and Ultratech Cement.
Sameet Chavan, Head of Research, Technical, and Derivatives at Angel One, commented on the market sentiment, saying, “Despite rising concerns from global markets, domestic equities continued their gravity-defying rally at the start of the expiry week. Broader market participation added to the bullish sentiment.”
Chavan issued an advisory, asking investors to regularly consider booking profits as the monthly expiry approaches and the markets overbought territory. “While select sectors show promise, a stock-specific approach remains crucial amid the heightened volatility. Staying attuned to global developments will be key to navigating these choppy waters,” he added.
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