The Indian stock market closed higher on Tuesday, with the benchmark Nifty 50 index hitting a record closing high. The Sensex ended at 83,079.66, up 90.88 points or 0.11%, while the Nifty closed at 25,418.55, up 34.80 points or 0.14%.
The market was lifted by gains in heavyweight stocks like Hero MotoCorp, Bajaj Auto, and Bharti Airtel. Hero MotoCorp was the top gainer on the NSE, rising 3.25%, followed by Bajaj Auto (2.02%) and Bharti Airtel (1.68%).On the other hand, Tata Motors, Eicher Motors, and Adani Ports were among the top losers, declining 1.36%, 1%, and 0.98%, respectively.
Indian Stock Market Sector-wise Performance
Among the sectoral indices, Nifty Private Bank, Nifty FMCG, and Nifty IT gained 0.2-0.4 percent, making them the day‘s top performers. Meanwhile, the early trade gains in Nifty Healthcare and Nifty Pharma were erased, with both indices ending in the red.
Key Developments
- Jupiter Wagons Limited announced the transformation of its subsidiary, changing the company’s name from Bonatrans India Private Limited to Jupiter Tatravagonka Railwheel Factory Private Limited. The stock declined 3.10% to trade at ₹528.30 on the NSE.
- Life Insurance Corporation Of India (LICI) decreased its shareholding in equity shares of DCM Shriram Industries Ltd from 6.675% to 4.659%. Both LICI and DCM Shriram traded flat on the NSE.
- IndusInd Bank received a penalty of ₹2,950 from the Reserve Bank of India for discrepancies pointed out by RBI Chandigarh in Soiled Note Remittance (SNR) sent by Chandigarh Currency Chest. The bank’s shares traded flat at ₹1,469.15 on the NSE.
- GTPL Hathway received two orders from the Office of the Principal Commissioner of Customs, Ahmedabad, imposing penalties and redemption fines. The stock declined 2.07% to trade at ₹171.86 on the NSE.
Indian Stock Market Outlook for Tomorrow
Analysts suggest that the Nifty faces support at 24,800 and resistance at 25,200, with potential further declines if key levels are breached. Caution is advised for traders, as the 24,753 level is expected to offer short-term support in the Nifty.
Investors will be closely watching the U.S. inflation data, which could impact the market‘s performance on Thursday. The domestic equity indices fell on Wednesday as investors took profits before the data release
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
