The Indian stock market experienced a mixed day, with the Sensex ending slightly lower at 74,102.32, down by 0.02%, while the Nifty managed a modest rise to 22,497.90, gaining 0.17%. Global uncertainties, particularly surrounding Trump’s tariff policies, influenced the market’s initial downturn. However, a partial recovery was seen later in the day, leading to a flat close.

Market Performance Overview

Despite the rocky start, the indices displayed a degree of resilience, fluctuating throughout the day before stabilizing near their opening levels.

• Sensex: Closed at 74,102.32 (down 0.02%)
• Nifty: Closed at 22,497.90 (up 0.17%)

Shrikant Chouhan, Head of Equity Research at Kotak Securities, commented, “Today’s performance showed a slight rebound from earlier lows, with the Nifty rising by 38 points and the Sensex up by 13 points. The Realty index stood out, gaining an impressive 3.75%, while both the Private Banks and Capital Market indices saw declines of over 1%.”

Technical Insights and Market Outlook

Looking ahead, Chouhan noted, “Given the weak global sentiment, our market opened lower, but buying interest at reduced prices helped it recover. As long as the market remains above 22,300 and 73,700, the short-term outlook stays positive. We anticipate potential retests of 22,600-22,650 and 74,500-74,700. However, if it dips below 22,300 and 73,700, we may see a shift in sentiment, leading traders to consider exiting their long positions.”

IndusInd Bank Faces Major Setback

In a significant turn of events, IndusInd Bank experienced a shocking 27% drop, marking its steepest single-day decline since November 2020. The bank’s shares started at Rs 810.45 and continued to plummet, closing at a staggering loss.

IT Sector Experiences Volatility

The IT sector felt the impact of global sell-offs, particularly after a notable drop in US tech stocks. Major player Infosys, along with M&M, Bajaj Finserv, and Power Grid, struggled under pressure. While a few IT stocks managed to recover by day’s end, the overall sector remained in the red.

Positive Performers: Trent, BPCL, and Sun Pharma Shine

On a more positive note, Trent emerged as the leading performer, skyrocketing over 4%. Other stocks like BPCL, Sun Pharma, ICICI Bank, and BEL also finished the day on a high note, contributing to a mixed overall market sentiment.

Global Influences on Market Sentiment

The Indian markets were notably affected by a significant overnight decline in US indices, as investors faced fears of a potential recession and rising trade tensions. While the IT sector struggled initially, some stocks demonstrated resilience, although the broader market sentiment remained cautious.

Currency Update: Rupee Gains Ground

In currency news, the Indian rupee appreciated slightly on Tuesday, gaining 12 paise to settle at 87.21 per dollar, compared to the previous day’s closing rate.

With global markets in flux, investors are encouraged to stay informed and cautious as they navigate the evolving landscape.