MUMBAI— Indian equity markets ended Tuesday’s session in positive territory, buoyed by cautious optimism over an impending “mini” trade deal between India and the United States. The benchmark indices posted modest gains, with investors largely remaining on the sidelines amid uncertainty over the timing and details of the agreement.
The Sensex closed at 83,712.51, gaining 270.01 points or 0.32% from the previous close of 83,442.50. The 30-share index opened lower at 83,387.03 but rebounded to hit an intraday high of 83,812.31.
The Nifty 50 rose 61.20 points, or 0.24%, to settle at 25,522.50.
Analysts said the markets were range-bound throughout the day, awaiting definitive developments on the bilateral trade deal.
“While sentiment remains cautiously optimistic about a potential deal, the lack of formal confirmation has restrained fresh buying activity,” said Vinod Nair, Head of Research at Geojit Financial Services. He also noted that the U.S. decision to delay the imposition of 25% tariffs on key trade partners has prompted investors to take a more defensive stance.
Among the top gainers on the Sensex were Kotak Mahindra Bank, Adani Ports, NTPC, Bharat Electronics (BEL), Power Grid, Infosys, Tata Motors, and HDFC Bank. On the other hand, Mahindra & Mahindra, Reliance Industries, Bharti Airtel, TCS, HCL Technologies, and Sun Pharma closed in the red.
Of the Nifty50 constituents, 27 stocks advanced while 23 declined. In the broader market, the Nifty Midcap 100 and Nifty Smallcap 100 indices closed lower, while the Nifty 100 ended higher.
Most sectoral indices ended in positive territory. Nifty Financial Services gained 0.68%, Nifty Bank rose 0.54%, and Nifty IT added 0.30%.
“The index moved up after a period of consolidation on the hourly chart, improving short-term sentiment for bulls,” said Rupak De, Senior Technical Analyst at LKP Securities. “On the daily chart, the Nifty formed a green candle following a hammer and doji pattern, which often suggests a potential bullish move. Key support is seen at 25,400, with resistance at 25,600 and 25,750–25,800.”
Meanwhile, the Indian rupee strengthened, rising 0.20 or 0.23% to close at 85.65 against the U.S. dollar. Softer crude oil prices and a reduction in foreign institutional investor (FII) outflows contributed to the currency’s resilience.
Analysts expect the rupee to trade firmly in the near term, within a range of 85.25 to 86.00. (Source: IANS)
