Mumbai’s stock market wrapped up Tuesday on a positive note, with the Sensex gaining 173.81 points or 0.21% to settle at 83,450.96. The Nifty too advanced by 42.65 points or 0.17%, closing at 25,725.40. This modest uptick came amid a broadly positive session across market segments.
Large-cap stocks led the charge, but mid-cap and small-cap indices outperformed with sharper gains. The Nifty Midcap 100 index rose 224.90 points or 0.37% to 59,881.70, while the Nifty Smallcap 100 climbed 95.80 points or 0.56% to 17,146.70. Investors cheered the resilience shown by public sector banks, which spearheaded the rally.
Sector-wise, PSU banks, India Defence, IT, FMCG, media, consumer durables, auto, pharma, PSE, healthcare, infra, and services all ended in positive territory. However, metals, commodities, realty, oil & gas, and financial services faced selling pressure and closed lower.
In the Sensex pack, standout performers included ITC, BEL, L&T, Infosys, Asian Paints, Titan, HCL Tech, Sun Pharma, Indigo, SBI, TCS, Power Grid, and HDFC Bank. On the flip side, Eternal, Tata Steel, Trent, M&M, Bajaj Finserv, Bharti Airtel, Axis Bank, Kotak Mahindra Bank, and HUL were among the notable losers.
Senior Technical Analyst at LKP Securities, Rupak De, highlighted the Bank Nifty’s stellar performance, maintaining gains from the previous session. ‘The index remains above its 50-DMA, reinforcing the bullish trend. RSI signals strengthening momentum,’ he noted.
De forecasts a positive short-term outlook, with potential upside to 62,200. Immediate support rests at 60,400, offering a safety net against any pullbacks. The market opened weakly in red, with Sensex down 175 points or 0.21% at 83,098 and Nifty off 78 points or 0.31% at 25,572 by 9:23 AM, but buyers stepped in to drive the recovery.
This session underscores steady investor confidence despite global headwinds, setting the stage for continued vigilance on banking and defensive sectors.