The Sensex and Nifty both closed the day with modest gains, demonstrating the market’s resiliency. As they navigated through the uncertainties of the world, investors remained cautiously optimistic.
At the time of market closing, the Sensex was up by 3.94 points, reaching 65,220.03, while the Nifty gained 2.85 points, closing at 19,396.45.
This positive trend was reflected in the market breadth among Nifty companies, with 38 advances and 13 declines.
Among the top gainers in Nifty companies were Adani Enterprises, HDFC Life, Tata Motors, NTPC, and SBI Life, which saw notable increases in their stock prices.
Conversely, Jio Financial Services, Reliance, Nestle India, Hindustan Unilever, and TCS experienced losses, landing them among the top losers for the day.
Profit Idea’s founder and managing director, Varun Aggarwal, provided his analysis of the day’s market activity. “Indian markets consolidated today along expected lines,” he said. The global markets are consolidating and choosing their course as events unfold due to a lot of uncertainty. “Bias remains bullish on Nifty with upside potential levels towards 20160 remains intact as long as we are above 18887,” said Aggarwal, reiterating his bullish outlook for the Nifty and highlighting the potential for gains on the upside.
Sectoral change is apparent, and certain IT, pharmaceutical, and FMCG stocks appear to have good upside potential. The Indian stock market maintains its resiliency, offering opportunities for both cautious consolidation and potential gains in a variety of sectors, while investors continue to closely monitor global events and economic indicators.
