However, the market was not able to continue with the morning gains and slipped into minor weakness from the highs in the early part of Tuesday’s trading session.
Profit-booking dragged Nifty down to an intraday low of 24,290. The index finally ended the day with the gains of 7 points to close at 24,335.
Though the market ended flat in a rangebound session, the Nifty held 24,300 levels.
Initial gains were driven by improving US trade negotiations and strong institutional buying. Both, FIIs and DIIs turned net buyers in the last two trading sessions.
The mid and small-cap indices managed to close marginally higher, gaining 0.27% and 0.37%, respectively.
Sectorally, IT, Consumer Durables, and Oil & Gas stocks were the top performers, while Pharma, Metal, and Healthcare sectors experienced the most significant declines.
Reliance Industries continued to be a major contributor to the Nifty’s gains, adding ₹1.5 lakh crore in market capitalisation over two sessions, its biggest two-day gain in four years.
Trent was the top Nifty gainer, rising up to 6% on a big beat in margin. Trent’s EBITDA grew by 37% from the same quarter last year to ₹656 crore.
Buying continued in defence sector. Most sectoral stocks moved higher, up 3-10%, driven by heightened geopolitical tensions and the finalisation of a ₹64,000 crore Inter-Governmental Agreement between India and France for 26 Rafale-M fighter jets for the Indian Navy.
Investors will keep an eye on shares of Bajaj Finance, one of India’s leading non-bank lender, which reported its March quarter results on Tuesday. Apart from its results, the company also announced 4:1 bonus issue, ₹56 per share as dividend and stock split.
Looking ahead, progress on the US trade deal is expected to provide near-term support, while the ongoing earnings season may lead to stock specific movements, said Siddhartha Khemka of Motilal Oswal.
Meanwhile, both domestic and foreign investors were net buyers in the cash market on Tuesday.
What do the Nifty 50 charts indicate?
The Nifty is in continuation of an uptrend, as it is placed above all key moving averages. Nandish Shah of HDFC Securities sees resistance for the index at 24,545, which happens to be 61.8% retracement of the entire fall seen from 26,277 to 21743. On the downside, the 24,150 level is likely to act as immediate support for the Nifty.
LKP Securities’ Rupak De expects consolidation to continue in the short term, especially as the index has yet to give a decisive breakout above 24,550.
“On the lower end, support is placed at 24,250; a breach below this level could trigger increased selling pressure in the market,” De added.
The Nifty is expected to resume its upside momentum after a small consolidation or minor dip, said Nagaraj Shetti of HDFC Securities.
“Immediate support is placed at 24,150 levels. A decisive move above the resistance of 24,450 could open next upside target of 24,850 levels in the near term,”Shetti added.
What do the Nifty Bank charts indicate?
The Nifty Bank index remains locked in a sideways-to-cautious setup, with sellers successfully capping upside moves while buyers maintain their ground at lower levels.
“As the index consolidates near resistance but continues to respect support zones, the breakout direction — whether upward or downward — will dictate the near-term trend. So long as the index stays above the 54,300–54,500 support zone, the broader chart structure remains positive,” said Dhupesh Dhameja of SAMCO Securities.
Dhameja added that a sustained breakout above 56,100 could unlock fresh upside potential, pushing the index toward the 56,700 mark. However, in the absence of a breakout, range-bound movement is expected to persist. A breakdown below key support could invite a mild corrective dip towards 53,800.
Here are the stocks to watch ahead of Wednesday’s trading session:
–IndusInd Bank CEO Sumant Kathpalia resigns from the bank with immediate effect on the back of discrepancies in the derivatives portfolio. He says, “I undertake moral responsibility, given the various acts of commission/omission that have been brought to my notice.”
–Bajaj Finance reported its March quarter earnings, in which it witnessed double digut growth both in profit amd NII. Besides, it announced four bonus shares to its shareholders for every one share held as on the record date. Thr firm also approved a 1:1 stock split split, where one share of ₹2 will be split into two shares of ₹1 each. Bajaj Finance’s board has also approved a dividend of ₹44 per share as the final dividend for financial year 2025, which is the highest on record. Additionally, it has also announced a special dividend of ₹12 per share, as a result of the one-time gain it had by selling some stake in its subsidiary Bajaj Housing Finance through via its IPO last year.
–BPCL reported a net profit of ₹3,214 crore for the March quarter, well above CNBC-TV18 poll estimate of ₹2,700 crore.
–CEAT reported a mixed set of numbers for the quarter ended March 2025, with net profit declining despite healthy growth in revenue. The tyre maker’s net profit dropped 8.4% year-on-year to ₹99.5 crore, while revenue rose 14% to ₹3,420.6 crore.
–Fedbank Financial reported Q4 earnings, in which net profit rose 6% to ₹71.7 crore. NII was up 34.6% to ₹283.3 crore.
–IndiaMART InterMESH posted a 49.3% quarter-on-quarter rise in consolidated net profit at ₹180.6 crore for the March quarter, compared to ₹121 crore in the December quarter.
–Bajaj Finserv reported profit growth of 14% at ₹2,416.6 crore, compared to ₹2,118.5 crore (YoY). Revenue up 14.2% to ₹36,595 crore.
–Prestige Estates gets Real Estate Regulatory Authority (RERA) approval & has launched the residential project ‘The Prestige City – Indirapuram’ in NCR. Gross Development Value (GDV) of the project is over ₹9,000 crore.
