Indian stock market benchmarks, the Sensex and the Nifty 50, ended slightly higher on Tuesday, July 1, thanks to gains in shares of BEL, Reliance Industries and HDFC Bank, amid mixed global cues.
The Sensex ended the day 91 points, or 0.11 per cent, higher at 83,697.29, while the Nifty 50 settled at 25,541.80, up 25 points, or 0.10 per cent.
The mid and small-cap segments ended lower. The BSE Midcap and Smallcap indices slipped 0.07 per cent and 0.18 per cent, respectively.
Indian stock market: 10 key highlights from the day
1. What moved the Indian stock market today?
Domestic market benchmarks ended slightly up as gains in shares of select heavyweights such as Reliance, HDFC Bank and BEL were largely offset by losses in shares of ICICI Bank, Axis Bank and TCS.
Investors remained cautious, seeking clarity on India-US trade negotiations. While both countries have been claiming that a deal could be finalised soon, there is no clarity on how the negotiations are shaping up.
Moreover, global cues were also weak ahead of a vote over US President Donald Trump’s tax bill.
Technically, the Nifty 50 is trading near the upper Bollinger band, indicating strength in the move upside.
According to Praveen Dwarakanath, Vice President of Hedged.in, the index has support at the 25,200 level and resistance at the 25,900 level.
“The smaller timeframe momentum indicators are sloping upside, indicating a further rally from the current levels. The Keltner channel upper band level is placed at 25,430, which can act as an immediate bounce level in case of a move down,” said Dwarakanath.
(This is a developing story. Please check back for fresh updates.)
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Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
