Mumbai, April 29 (IANS) Domestic equity benchmark indices went through a volatile session on Tuesday, with stock-specific activity taking the spotlight, amid geo-political tensions.
Sensex opened on a positive note of almost 180 points at 80,396 and surged to an intra-day high of 80,661. However, the index quickly erased its gains, dipping into the negative zone and reaching a low of 80,122, which was 539 points down from its highest point of the day.
Despite this, Sensex made a recovery and closed 70 points or 0.1 per cent higher at 80,288.
Similarly, Nifty opened on a positive note at 24,370 and touched an intra-day high of 24,457 during the early hours of trade.
However, the index faced selling pressure at higher levels and slipped to an intra-day low of 24,290. The index finished the trading session with a marginal gain of seven points at 24,336.
Investors maintained a cautious stance amid uncertainty surrounding the potential impact of US President Donald Trump’s tariffs, said Sundar Kewat of Ashika Institutional Equity.
He added that, market participants are closely monitoring upcoming corporate earnings and key economic data from Wall Street to assess the broader implications of these trade measures on corporate performance and economic momentum.
Major gainers included Tech Mahindra, Eternal (formerly known as Zomato), HCL Technologies, Bajaj Finserv, Infosys, and TCS, all rising by 1 to 2 per cent.
On the downside, UltraTech Cement and Sun Pharma saw a decline of 2 per cent each, with Kotak Mahindra Bank, NTPC, SBI, and Nestle India also facing losses.
In the broader market, the BSE MidCap index increased by 0.2 per cent, and the SmallCap index added 0.1 per cent.
Sector-wise, the BSE IT and Capital Goods indices rose by 1 per cent each, while the Metal index dropped by 1 per cent, and both the Power and Bankex indices declined by 0.5 per cent.
Hrishikesh Yedve from Asit C. Mehta Investment Intermediates Ltd. (a Pantomath Group Company) said that technically, the Nifty index formed a shooting star candle on the daily chart, signalling selling pressure at higher levels, with 24,460 acting as a short-term hurdle.
“Sustaining above this level could lead to a rally toward 24,800–24,850. On the downside, key support lies at the 200-Day Simple Moving Average around 24,050, followed by 23,850. Traders should monitor these levels for potential trading opportunities,” he mentioned.
–IANS
pk/na
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