Stock market’s ‘sixer’ Closing, Sensex rises 173 points and closes in the green; Investors heaved a sigh of relief

Share Market Highlights: The Indian stock market closed in the green in Tuesday’s trading session. At the end of the day, Sensex was at 83,450.96, up 173.81 points or 0.21 percent, and Nifty was at 25,725.40, up 42.65 points or 0.17 percent. Along with largecap, midcap and smallcap also closed in the green. The Nifty Midcap 100 index was up 224.90 points or 0.37 per cent at 59,881.70 and the Nifty Smallcap 100 index was at 17,146.70, up 95.80 points or 0.56 per cent.

PSU banks did the work of boosting the market. Whereas, India Defence, IT, FMCG, Media, Consumer Durables, Auto, Pharma, PSE, Healthcare, Infra and Services were in the green. Metal, Commodities, Realty, Oil&Gas and Financial Services closed under pressure.

Today’s Top Gainers and Losers

ITC, BEL, L&T, Infosys, Asian Paints, Titan, HCL Tech, Sun Pharma, Indigo, SBI, TCS, Power Grid and HDFC Bank were the gainers in the Sensex pack. Eternal, Tata Steel, Trent, M&M, Bajaj Finserv, Bharti Airtel, Axis Bank, Kotak Mahindra Bank and HUL were the losers.

Great rise in Bank Nifty

Rupak De, Senior Technical Analyst, LKP Securities, said that Bank Nifty recorded strong gains during the session and maintained the previous day’s gains. The index remains above its 50 DMA, further strengthening the positive trend. The RSI is also showing bullish signals, indicating strength in momentum.

He further said that the trend is likely to remain positive in the short term, and a rise to 62,200 may be recorded. On the other hand, immediate support lies at 60,400, which may act as a safety net in case of any interim downside.

Market starts in red mark

indian stock market Started the trading session in the red. At 9:23 am, the Sensex was at 83,098, down 175 points or 0.21 per cent, and the Nifty was at 25,572, down 78 points or 0.31 per cent.

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Impact of India-US trade deal

18% US tariff is likely to be implemented on Indian goods from this week. According to the Commerce Secretary, the Indian team will go to America next week to finalize the trade deal. It is expected that the deal can be signed in March. In case of implementation of tariffs, instability in the export-oriented sector may increase.