Indian equity markets ended higher on Tuesday, with the Sensex and Nifty 50 gaining on the monthly expiry day as falling crude oil prices improved investor sentiment.
The Sensex climbed 287 points, or 0.37%, to close at 77,656, while the Nifty 50 gained 116 points, or 0.48%, to settle at 24,335.
Broader markets also witnessed buying interest. The Nifty Midcap 150 advanced 0.45%, while the Nifty Smallcap 250 declined 0.15%.
Why Did the Market Rise Today?
A decline in crude oil prices supported sentiment across Indian equities. Brent crude fell more than 3% to around $89 a barrel, its lowest level in a week.
The decline came amid profit booking in oil markets even as the US increased economic pressure on Iran and its trading partners. Tehran has warned of a strong response to the expanded US sanctions.
According to market analysts, the latest US sanctions were less severe than investors had initially feared, helping crude prices and bond yields retreat from recent highs.
“Lower energy costs supported a moderately positive market close,” said Vinod Nair, Head of Research at Geojit Investments.
However, Nair cautioned that unresolved US-Iran tensions could keep investors alert, with crude prices and long-term bond yields remaining sensitive to developments in the Middle East.
Heavyweights Support Sensex
Buying in select large-cap stocks helped lift the benchmark indices.
ICICI Bank, Infosys and SBI were among the biggest contributors to the Sensex's gains.
However, declines in HDFC Bank and Eternal limited the overall rise in the benchmark.
Vikram Kasat of PL Capital said the Nifty recovered from intraday weakness during the closing auction session and finished near the important 24,300 level, showing resilience despite geopolitical concerns and expiry-related volatility.
Nifty Top Gainers and Losers
Among Nifty constituents, Adani Enterprises, Max Healthcare Institute, Apollo Hospitals and InterGlobe Aviation (IndiGo) emerged as the leading gainers, rising around 2–4%.
On the other hand, HDFC Life Insurance, Cipla and ONGC were among the biggest losers, each declining more than 1%.
Sensex Top Gainers and Losers
IndiGo, Adani Ports and Infosys were among the strongest performers in the Sensex pack.
Eternal, HCL Technologies and Power Grid ended among the major laggards.
Sectoral Performance
Most sectoral indices on the NSE closed in positive territory.
Nifty Healthcare, Consumer Durables, Pharma and PSU Bank indices gained as much as 1%.
However, Private Bank, Metal and Nifty Bank indices ended marginally lower.
Nifty Technical Outlook
According to Ajit Mishra, SVP-Research at Religare Broking, the Nifty has once again tested trendline support around 24,100.
A decisive break below the 24,100–24,000 zone could push the index towards the 23,650–23,800 range.
On the upside, 24,400 is expected to act as the immediate resistance level.
Sudeep Shah of SBI Securities identified 24,200–24,170 as the immediate support zone. A break below 24,170 could drag the index towards 24,050.
On the higher side, 24,480–24,500 is likely to act as resistance. A sustained move above 24,500 could open the door for a move towards 24,650.
What Should Investors Watch?
Market participants are likely to closely monitor:
Crude oil price movements
US-Iran geopolitical developments
Foreign institutional investor activity
Global bond yields
Nifty's ability to sustain above 24,300
Upcoming corporate and economic data
Analysts recommend a stock-specific approach and disciplined risk management amid continued geopolitical uncertainty and market volatility.
