Mumbai
On Tuesday, Indian equity indices closed nearly unchanged after hitting new all-time highs, driven by positive global market sentiment. The Sensex ended down by 14 points at 84,914, while the Nifty rose slightly by one point to settle at 25,940. During the day, both indices reached their highest levels, with the Sensex at 85,163 and the Nifty at 26,011.
However, banking stocks faced selling pressure, causing the Nifty Bank index to fall by 137 points, or 0.25%, to close at 53,968. The Nifty midcap 100 index gained 138 points, up 0.23%, reaching 60,850, while the Nifty smallcap 100 index decreased by 108 points, or 0.56%, to finish at 19,440.
Sector-wise, Auto, IT, pharma, metal, energy, infrastructure, and public sector enterprises saw notable gains, whereas PSU banks, financial services, FMCG, real estate, and private banks faced losses.
Analysts attribute the market rally to strong corporate earnings, resilient economic indicators, and increased foreign investment. They believe that for the upward trend to persist, the Nifty needs to break decisively above the 26,000 mark, with expected fluctuations between 25,800 and 26,000 in the near term.
