The NSE Nifty was down by 0.05 per cent or 12.20 points to 22,449.80, while the BSE Sensex was at 73,958.3, down by 0.08 per cent or 56.25 points.

A total of 3,224 stocks were actively traded, 2,374 advanced, while 737 declined and 113 stocks remained unchanged, where 82 stocks hit a 52-week high and 14 stocks hit a 52- week low at 9.30 am on Tuesday.

Major gainers on the NSE at 9.30 am include, BPCL (1.92%), Bajaj Auto (1.91%), Adani Ports (1.87%), IndusInd Bank (1.25%), and Coal India (1.12%).

Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, “A distinct feature of a bull market is its ability to set new highs. This was evident yesterday when the Nifty set a new intraday high. In this bullish scenario characterised by strong momentum and supported by a sustained gush of capital flows into the market, every dip will be bought, imparting resilience to the market.

Since the global construct is slightly negative as evidenced by the rising dollar and rising US bond yields (the 10-year is at 4.3 per cent), the FPIs may be tempted to sell. But FPI selling does not have a major impact on the market since DIIs, HNIs and retail investors are calling the shots now.

Even while riding the bull, investors should know that liquidity is overwhelming fundamentals in many pockets of the broader market. This calls for caution.”

Major losers include, ICICI Bank (-0.89%), Wipro (-0.87%), TCS (-0.87%), Cipla (-0.81%), Bajaj Finance (-0.76%)

The BSE Smallcap was up by 0.79 per cent, and the Midcap was up by 0.43 per cent, indicating gains.

Related Topics