The Indian stock market started on a strong note on Tuesday, supported by positive global trends and buying interest in the realty and media sectors.
Market Performance
At around 9:27 AM, the BSE Sensex was trading 448.91 points or 0.61% higher at 74,618.86, while the NSE Nifty gained 140.15 points or 0.62% to trade at 22,648.90.
The Nifty Bank index was up 407.25 points or 0.84% at 48,761.40, while the Nifty Midcap 100 climbed 333.05 points or 0.69% to 48,794.85. The Nifty Smallcap 100 also gained 142.55 points or 0.95% to reach 15,110.95.
Market analysts predict that after the positive opening, the Nifty may find support at 22,450, followed by 22,350 and 22,300 levels. On the upside, 22,700 is seen as immediate resistance, followed by 22,750 and 22,800.
Expert Take on Market Sentiment
Vikram Kasat, Head of Advisory at PL Capital – Prabhudas Lilladher, noted that despite the strong market performance, investor sentiment remains cautious due to geopolitical uncertainties, particularly the escalating trade tensions following new tariffs imposed by US President Donald Trump.
“This geopolitical uncertainty tempered overall market optimism,” said Kasat.
Top Gainers and Losers
Among the top gainers in the Sensex pack were:
- ICICI Bank
- M&M
- Axis Bank
- Tata Steel
- Tata Motors
- Bajaj Finserv
- Hindustan Unilever Limited
- Zomato
However, some stocks traded in the red, including:
- HCL Tech
- Sun Pharma
- TCS
- Tech Mahindra
Global Market Overview
In the previous session, major US stock indices surged, with:
- Dow Jones rising 0.85% to 41,841.63
- S&P 500 gaining 0.64% to settle at 5,675.12
- Nasdaq adding 0.31% to close at 17,808.66
In Asian markets, Jakarta traded lower, while Japan, Seoul, China, and Hong Kong markets were in the green.
FII and DII Activity
Foreign Institutional Investors (FIIs) continued their selling spree in March, offloading ₹4,488.45 crore worth of equities on March 17. However, Domestic Institutional Investors (DIIs) countered this trend, purchasing equities worth ₹6,000.60 crore on the same day. The Indian stock market remains volatile, influenced by global economic conditions, geopolitical risks, and sector-specific developments. Analysts suggest investors monitor key support and resistance levels while keeping an eye on global market trends and institutional activity.
