Stock market today: Domestic benchmark equity indices, the Sensex and the Nifty 50, ended Tuesday’s session higher amidst a choppy trading session led by gains in information technology (IT), auto, pharma, and realty stocks.
Investors have been focusing on important US and domestic economic data. The overall trend, according to analysts, is positive, with no negative developments anticipated for domestic markets and expectations that macroeconomic data points like the US GDP will be in favour of markets and take markets to new highs in the coming days.
The 30-share BSE Sensex ended higher by 305.09 points or 0.42% at 73,095.22 level while the Nifty 50 closed at 22,198.35 level, up 76.30 points or 0.34%. On the broader market front, the Nifty Midcap 100 closed 0.12% lower, and the Nifty SmallCap 100 closed 0.28% higher.
IT stocks gained by 0.72% following a 1.17% decline in the previous session led by Tata Consultancy Services, after UBS upgraded the company from “neutral” to “buy”.
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“The domestic market rebounded from yesterday’s loss amidst volatility, despite weak global cues. The hopes for a ceasefire in the Israel-Hamas war and the drop in crude oil prices supported the sentiment.
However, the mid & small caps underperformed. The market is looking ahead to key economic data, both domestic and global, with US inflation grabbing the most attention, as that will provide fresh signals on interest rate cuts,” said Vinod Nair, Head of Research, Geojit Financial Services.
(more to come)
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