After strong budget announcements, Indian equities indexes wisely recovered from the day's lows and ended Tuesday flat. Sensex had dropped 73 points, or 0.09 percent, to close at 80,429, while Nifty had dropped 30 points, or 0.12 percent, to close at 24,479.
The Sensex reached a high of 80,766 points and a low of 79,224 points during the trading session. The Nifty reached a high point of 24,582 and a low point of 24,074. Titan, ITC, NTPC, Infosys, HCL Tech, HUL, and Sun Pharma were the biggest gainers in the Sensex pack. Top laggards were Power Grid, Axis Bank, HDFC Bank, SBI, L&T, and Bajaj Finance.
Comparing midcap and smallcap equities to largecap companies, a downward tendency was seen. The Nifty Smallcap 100 index finished at 18,400, down 162 points, or 0.88 percent, from the Nifty Midcap 100 index, which concluded at 56,285 after down 339 points, or 0.60 percent.
Choice Broking's Mandar Bhojane, a research analyst, stated: "We anticipate continued market volatility. Investors ought to have a trailing stop-loss on their holdings. Since the general trend is still positive, any decline will present a buying opportunity."
The biggest gainers among the sectors indexes were Auto, IT, FMCG, and Media, while the top laggards were PSU Bank, Fin Service, Metal, and Real Estate Index.
Senior Technical Analyst at LKP Securities Rupak De stated: "24,400 is the immediate support level on the bottom end. Strong call writing near 24,500 suggests that the market will continue to see strong selling pressure until the Nifty clearly breaks above 24,500. On the downside, a decline below 24,400 might lead to a drop in the direction of 24,200–24,400."
