Markets Closing: Sensex Ends In Red, Nifty Closes Below 22,600

Within the Nifty index, several prominent companies, including Hindalco, Tata Steel, Coal India, JSW Steel, and Adani Ports were among the top gainers. On the other hand, Nestle India, Hero Motocorp, Maruti, ICICI Bank and Indusind Bank were among the top losers.
Stock Market Closing

Stock Market Closing (Image Source: iStockphoto)

On Tuesday, the BSE Sensex, comprising 30 key stocks, experienced a decline of 52.63 points, equivalent to 0.07 percent, closing at 73,953.31. Meanwhile, the Nifty, a benchmark index for NSE, gained 27.05 points, or 0.12 percent, concluding at 22,529.05.
Within the Nifty index, several prominent companies, including Hindalco, Tata Steel, Coal India, JSW Steel, and Adani Ports were among the top gainers. On the other hand, Nestle India, Hero Motocorp, Maruti, ICICI Bank and Indusind Bank were among the top losers.
Rupak De, Senior Technical Analyst, LKP Securities said, "The index remained within the range of 22,400 and 22,600. Strong put writing at 22,400 and 22,500 might provide support to the Nifty. On the higher end, a decisive move above 22,600 might induce a rally towards 22,800 in the near term. Till then the index might continue consolidating as long as it remains within the range of 22,400 to 22,600."
Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) divested equities amounting to Rs 92.95 crore and Rs 152.87 crore respectively on the previous trading day, as indicated by exchange data.
Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities said, "The BankNifty index failed to surpass the mark of 48,400, where the 20DMA is placed. A break above this level will lead to a fresh move on the upside. The lower-end support is placed at 48,000, where the highest open interest is built up on the put side."
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