Indian equities remained volatile throughout Tuesday’s session, with the Nifty 50 oscillating between 25,520 and 25,255. The Sensex, which at one point rose over 200 points, ended with a modest gain of 91 points at 83,697. The Nifty settled 29 points higher at 25,546.
Broader markets underperformed, with the Midcap and Smallcap indices snapping their recent winning streaks. The Midcap index slipped 23 points to close at 59,719, ending a seven-day rally.
Among key movers, Gabriel India surged 20% to hit the upper circuit after announcing a restructuring plan. Apollo Hospitals also gained 3.5%, topping the Nifty gainers list, as investors cheered its restructuring exercise.
In the auto space, Bajaj Auto reported weaker-than-expected June sales, weighing on sentiment. Tata Motors closed lower, while M&M and Eicher Motors ended in the green.
Reliance Industries advanced nearly 2% to a nine-month high after a positive brokerage note. Meanwhile, Karur Vysya Bank gained over 2% following a strong Q1 update.
The Nifty PSU Bank index extended its positive run, closing higher for the sixth straight day, though the index had briefly snapped its rally during intraday trade.
Other notable movers:
- Dixon Technologies dropped nearly 2% after Morgan Stanley downgraded the stock.
- NMDC fell almost 3% after announcing price cuts for lumps and fines.
- Sigachi Industries extended its decline, losing 17% over two sessions after a fire at its Telangana plant.
Today’s moves came amid the weekly expiry of Sensex contracts, a factor that often drives intraday volatility. Market breadth was evenly balanced, with the advance-decline ratio at 1:1.
Looking ahead, Monday’s high of 25,662 and low of 25,474 will serve as key technical levels for the Nifty. Any fresh developments in India-US trade talks could also act as a catalyst in the coming sessions.
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