The benchmark equity indices ended Tuesday's trading session in the positive territory. The NSE Nifty 50 gained 34.60 points or 0.14% to settle at 25,052.35, while the BSE Sensex jumped 73.80 points or 0.09% to 81,785.56. The broader indices ended in mixed territory, with gain led by Large-cap stocks. IT and Pharma stocks outperformed among the other sectoral indices while Media and PSU Banks stocks shed.Sectoral Index Bank Nifty index ended lower by 134.90 points or 0.26% to settle at 51,143.85. The Nifty Midcap 100 fell by 73.85 points, or 0.12%, ending the day's trading at 59,146.40. In the broader markets, small-cap and mid-cap stocks finished in the red. Also ReadRIL AGM Tomorrow! From Reliance Retail IPO to Leadership Transitions; Here are top 5 things to know ahead of RIL’s 47th AGM Top Movers for the day LTIMindtree, Wipro, Divis Labs, Bharti Airtel, and Infosys were the top gainers on the NSE Nifty 50, while the laggards includes Maruti Suzuki India, Asian Paints, Adani Enterprises, Shriram Finance, and Britannia Industries. The Indian Volatility Index (India VIX) closed up by 2.32 % at 13.95. Experts on Today's Market Performance "A consolidation in the US 10yr bond yield and an inflow of FIIs kept the domestic market sentiment optimistic. However, valuation remains a near-term deterrent, which will be further tested based on the upcoming India Q1 FY25 GDP data this week," said Vinod Nair, Head of Research at Geojit Financial Services Nair also said that On the other hand, investors are giving more emphasis to defensive bets, which is evident with the outperformance in IT and pharma stocks. Also ReadPremier Energies IPO Day 2: Check subscription status and other key details Commenting on the same Rupak De, Senior Technical Analyst, LKP Securities said that The Nifty continues to exhibit confusion at higher levels, as the index closed flat with wicks on both the upper and lower sides, indicating extended indecisiveness. This is highlighted by two consecutive doji-like candles following the recent rally on the daily timeframe. De also added that A decisive move above 25,100, or a close above this level, could confirm a further rally in the market. Otherwise, Nifty may slip lower, as the absence of sustained buying might trigger selling pressure. The immediate support is placed at 24,800. Bank Nifty Commenting on the Bank Nifty today Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas said that The Bank Nifty has been underperforming on the back of subdued price action in the key heavyweights of the index. In terms of levels, 50950 – 50850 shall act as a crucial support zone while 51500 – 51600 is the immediate hurdle zone.
