For the second straight session, the domestic main equity indices continued to rise, with benchmark indices closing more than 2% higher overall. After US President Donald Trump suspended tariffs, including those on India, for ninety days, the markets recovered. Additionally, the US administration is considering lowering 10% tariffs on cars and auto parts.
Indian indices, which were mostly headed by banking giants like HDFC Bank, ICICI Bank, and Axis Bank, outpaced the global markets, which were also robust today. In today’s transaction, Reliance was one of the top five movers as well. Additionally, all of the losses since April 2 have been virtually eliminated by Indian standards.
To end Tuesday at 23,328.55, the Nifty 50 gained 500 points. The Nifty 50 ended the week above 23,300. In the end, the BSE Sensex gained 1,577.63 points, or 2.10%, to 76,734.89. In the larger markets, small- and mid-cap stocks ended the day higher, reflecting the mood of the market as a whole. To reach 16.13, the India VIX volatility index had a dramatic 19.80% cooling.
Due to the fact that 2,547 of the 3,009 equities that were traded saw gains, while 377 saw declines, the overall market breadth continued to favor bulls.
A further uptrend from the current levels is supported by the uptrend continuation formation that the market is holding on daily charts. Although we believe that the market is now in a bullish phase, we may observe some profit booking at higher levels as a result of the short-term overbought conditions. Key resistance levels for traders would be 23,400 and 23,500, while critical support zones maybe 23,200–23,135
