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The NSE Nifty was up by 0.39 per cent or 85.80 points to 21,860.65 points, while the BSE Sensex was at 72,000.09, up by 0.37 per cent or 268.67 points.
A total of 3,193 stocks were actively traded, with 2,144 advancing, while 951 declined and 98 stocks remained unchanged, with 242 stocks hitting a 52-week high and 28 stocks hitting a 52-week low at 10 am on Tuesday.
Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, “The near-term market trend indicates exhaustion and there are no clear positive triggers that can take the market to sustained new highs immediately. An important event coming up is the RBI meeting on 8th. But no positive triggers like a rate cut are likely from the RBI meeting.The global market construct also is challenging with the 10-year bond yield rising again to 4.13 per cent and the dollar index rising to 104.50.
The positive takeaway is that the U.S. economy is doing surprisingly well and a sharp global slowdown triggered by a possible US recession is very unlikely. This, along with declining inflation in the US can support global equity markets. Investors may wait and watch for new trends to emerge while remaining invested in this bull market.”
Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher, said, “Nifty ended slightly on a weak note after witnessing some volatile session once again resisting near the 22,000 levels as mentioned earlier and it is important to cross the barrier zone for continuation of the further upward move. The support for the day is seen at 21,600 while the resistance would be at 21900.”
Major gainers on the BSE include Yes Bank, Triveni Turbine, Indian overseas Bank, Fortis healthcare, and UCO Bank, with gains ranging form 7 to 11 per cent.
Major losers include Best Agrolife, Suven pharmaceuticals, Rolex Rings, Prince Pipes and fittings, and Nbcc india, with losses ranging from 5 to 12 per cent.
BSE SmallCap was up by 1.18 per cent and MidCap up by 0.78 per cent, indicating gains.
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