Volatility struck the D-Street once again on Tuesday. The domestic key equity indices ended on a lower note, rising from its day’s lows. The NSE Nifty 50 closed the session 62.10 points or 0.27% at 22,897.40, while the BSE Sensex declined 130.68 points or 0.17% to end the day at 75,866.18
The Nifty Consumer Durables and FMCG saw the deep cuts. The Nifty Consumer Durables closed the session at 1.36% lower while the Nifty FMCG ended at 0.88% lower.
The banking index, Nifty Bank declined 196.25 points or 0.40% to close at 49,062.65. Following the overall trend, the broader indices fell on Tuesday, the Nifty Midcap 100 finished 608.65 points, or 1.22%, lower at 49,241.20.
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Sectoral Index
In the broader markets, small- and mid-cap stocks closed the day on a negative note. The volatility index India VIX cooled down 0.36% to 15.67 level.
IndusInd Bank (2.49%) was the major loser in the Nifty 50, followed by Trent (2.17%), BEL (1.89%), UltraTech Cement (1.80%), and M&M (1.80%). Meanwhile, NTPC, Tech Mahindra, Wipro, ONGC, and Apollo Hospitals were the top five gainers in the Nifty 50.
“The index has formed a high wave candle with a long lower shadow, indicating buying interest around the January lows. Over the last two sessions, it has been consolidating within a broad range of 22,700–23,000. If the index breaks above 23,000, it could lead to a pullback towards the 20-day EMA, which is around 23,230. However, if it falls below 22,700, it would suggest further downside towards the 22,500,” said Bajaj Broking.
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