The Indian market ended in the green on Tuesday, extending their rally, lifted by heavyweights Reliance Industries and Bharti Airtel, as optimism over potential goods-and-services tax (GST) reforms and tentative signs of progress in Russia-Ukraine peace talks buoyed sentiment.
The S&P BSE Sensex climbed 370.64 points, or 0.46%, to close at 81,644.39, while the NSE Nifty 50 added 103.70 points, or 0.42%, to finish at 24,980.65, just shy of the 25,000 mark. Both benchmarks had gained around 1% in the previous session.
Here’s how analysts read the market pulse:
The national market continued the renewed momentum, buoyed by expectations of GST rationalisation and a recent upgrade in India’s credit rating, said Vinod Nair, Head of Research at Geojit Investments, adding that additional optimism came from signs of easing geopolitical tensions between Russia and Ukraine, “shifting the near-term outlook from consolidation to a more constructive stance.
“However, the uptrend may face resistance until greater clarity emerges on US-India trade negotiations. Notably, small- and mid-cap stocks outperformed, with auto stocks leading gains, driven by hopes that China may address supply concerns related to rare earth magnets,” said Nair.
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Also read | 5 Wall Street moguls who dismissed Bitcoin as a fad — Guess what they’re saying now!US marketsThe blue-chip Dow was just shy of a record high on Tuesday as Home Depot shares gained after the retailer kept its annual forecasts intact, while the S&P 500 and the Nasdaq were subdued ahead of a Federal Reserve conference later in the week.Home Depot rose 4.6% despite missing quarterly results estimates, while rival home-improvement chain Lowe’s gained 2.7% in early trading. Earnings from Lowe’s and big-box retailers Walmart and Target later this week are now in focus as investors await more insight on the health of the American consumer.Consumer spending accounts for around 70% of the total U.S. economy and traders are keen to know the impact U.S. tariffs have had on corporate forecasts and individual expenditure. Last week, data showed the levies dented consumer confidence in July.European stocksEuropean stocks rose and oil edged down on Tuesday as traders assessed the implications of the previous day’s talks at the White House on the war in Ukraine, and looked ahead to a key meeting of central bankers.
U.S. President Donald Trump told President Volodymyr Zelenskiy on Monday that the United States would help guarantee Ukraine’s security in any deal to end Russia’s war there, though the extent of any assistance was not immediately clear.
Uncertainty about what it all might mean kept investors cautious but Europe’s broad STOXX600 index rose 0.5%, outperforming Asian stocks, which fell slightly. U.S. futures which were broadly flat.
Tech ViewThe Nifty remained in strength following a positive start, reaching 25000 on the higher end, where it found an initial level of resistance, said Rupak De, Senior Technical Analyst at LKP Securities, adding that the RSI indicator is in a classic bullish crossover, indicating strong positive momentum.
“Going forward, the index might remain strong; the strength increases above 25000. On the lower end, support is placed at 24800. Positive sentiment remains intact as long as it remains above,” said De.
Most active stocks in terms of turnoverOla Electric Mobility (Rs 2,582 crore), RIL (Rs 2,033 crore), Tata Motors (Rs 1,351 crore), Maruti Suzuki (Rs 1,284 crore), HDFC Bank (Rs 1,232 crore), Eternal (Rs 1,163 crore) and Bharti Airtel (Rs 1,094 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.Most active stocks in volume termsOla Electric Mobility (Traded shares: 58.31 crore), Vodafone Idea (Traded shares: 35.30 crore), Suzlon Energy (Traded shares: 10.03 crore), YES Bank (Traded shares: 4.60 crore), Motherson Sumi Wiring India (Traded shares: 4.33 crore), Ashok Leyland (Traded shares: 4.03 crore) and Eternal (Traded shares: 3.66 crore) were among the most actively traded stocks in volume terms on NSE.Stocks showing buying interestShares of Raymond Lifestyle, Ola Electric Mobility, Devyani International, Raymond, Hyundai Motor India, Godawari Power and Vardhman Textiles were among the stocks that witnessed strong buying interest from market participants.
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52 Week highOver 143 stocks hit their 52 week highs today while 65 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Maruti Suzuki.
Stocks seeing selling pressureStocks which witnessed significant selling pressure were Bajaj Holdings, Cholamandalam Financial Holdings, Neuland Labs, Bharat Dynamics, Intellect Design, Schneider and Lemon Tree Hotels.Sentiment meter bullishThe market sentiments were bullish. Out of the 4,232 stocks that traded on the BSE on Tuesday, 1,437 stocks witnessed declines, 2,631 saw advances, while 164 stocks remained unchanged.
Also read | Bajaj Finance shares up 30% in 2025 so far. Can GST reform tailwinds push the stock past Rs 1,000?
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)