The Indian stock market experienced a bullish surge, buoyed by positive global sentiments following a tariff reprieve from Trump. On Tuesday, both major indices, the Nifty 50 and BSE Sensex, saw significant gains, marking a second consecutive day of upward movement. The Nifty 50 index opened at 23,368, reaching an intraday high, and closed at 23,348, reflecting a remarkable gain of 519 points. Over the past two sessions, this benchmark index has accumulated a total increase of 949 points.
Market Highlights
- The BSE Sensex started at 76,852 and ended the day at 76,792, an impressive rise of 1,634 points.
- In just two sessions, the Sensex has surged by 2,945 points.
- The Bank Nifty index also demonstrated robust performance, opening at 52,299 and closing at 52,379, gaining 1,377 points in the process.
Broad Market Participation
This rally on Dalal Street was not limited to the top indices. The broader market also witnessed strong buying activity. Notably, the BSE Small-cap index increased by approximately 3.20%, while the Mid-cap index rose nearly 3% during Tuesday’s trading.
Expert Insights on Market Outlook
Siddhartha Khemka, Head of Research at Motilal Oswal Wealth Management, shared his perspective on the market’s momentum. He stated, “We anticipate that the positive trends will persist, driven by expectations of global trade resolutions and easing US tariffs.” He also noted that individual stocks or sectors may react based on quarterly results and management insights.
When discussing the Nifty 50’s future, Nagaraj Shetti, a Senior Technical Research Analyst at HDFC Securities, remarked, “The Nifty 50’s upward trajectory remains strong. Upcoming targets to monitor are approximately 23,650 and 23,870 within the next week or two. Immediate support is positioned at 23,200.”
Bank Nifty Analysis
Hrishikesh Yedve, AVP of Technical and Derivatives Research at Asit C. Mehta, provided an analysis of the Bank Nifty index. He noted, “The Bank Nifty displayed a gap-up opening, maintaining its bullish momentum and closing at 52,380. It has successfully crossed the significant resistance level of 52,000, indicating strength. This breakout level will serve as immediate support, and as long as it stays above, we could see a rally towards 52,700 to 52,800.”
Stocks to Watch Under ₹100
For investors looking for affordable stocks, several experts recommend the following four picks under ₹100:
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Confidence Petroleum India: Entry at ₹52 to ₹53.25, with targets of ₹54.50, ₹56, and ₹58. Suggested stop loss at ₹50.80.
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Paramount Communications: Buy within the range of ₹50 to ₹51.25, targeting ₹52.50, ₹54, and ₹55. Stop loss set at ₹49.
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Canara Bank: Look to buy at ₹92, targeting ₹94.20, with a stop loss at ₹92.
- SBFC: Recommended buy at ₹94, with a target of ₹98 and a stop loss at ₹92 (closing basis).
In summary, the Indian stock market is on an upward trend, fueled by favorable global sentiments and robust investor participation. Keep a close eye on these stocks under ₹100 for potential intraday gains.
