India’s Nifty 50 index trimmed early losses on Tuesday, trading near 25,500. Gains in IT and banking stocks helped offset pressure from Bajaj Finance and ONGC. Despite global uncertainty and foreign fund outflows, domestic sentiment remains stable. Investors await macro data and earnings for further direction.
India’s benchmark Nifty 50 index showed signs of resilience on Tuesday, trimming early losses and stabilizing around the 25,500 mark. After a weak start, the index bounced back as investor sentiment improved, supported by gains in IT, banking, and energy stocks.
Key highlights:
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Nifty 50 was last seen down just 0.1%, recovering from a deeper intraday dip earlier in the session.
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Sensex also pared losses, trading near 83,200 after falling over 300 points in early trade.
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Top gainers included HCL Tech, Infosys, ICICI Bank, and Bharat Electronics, reflecting strength in tech and financial sectors.
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Bajaj Finance and ONGC led the losers, dragging down the broader indices.
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Midcap and small-cap indices remained under pressure, down 0.6% and 0.3% respectively.
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Global cues were mixed, with Asian markets trading cautiously and U.S. futures indicating a flat open.
Market analysts suggest that while volatility persists due to foreign fund outflows and global uncertainty, domestic fundamentals remain strong. Investors are advised to stay selective and watch for cues from upcoming macroeconomic data and earnings reports.
Sources: Goodreturns, Moneycontrol