Indian benchmark indices ended higher in a volatile session on Tuesday after trading in the red for most of the day, with the Nifty closing comfortably above the 23,480 mark on a late pullback led by heavyweight IT stocks. At close, the Sensex was up 382 points at 74,650, and the Nifty was up 101 points at 23,483.
Here's how analysts read the market pulse:
"With the earnings season largely concluded, investor focus has shifted to key macro factors including monsoon progress, inflation trends, RBI policy, and liquidity conditions. The monsoon is expected to advance into southern regions this week, providing near-term sentiment support. While rainfall is projected to be below the long-period average and emerging El Nino risks warrant monitoring, healthy reservoir levels, well above the 10-year average, offer a cushion against potential shortfalls," said Vinod Nair, Head of Research, Geojit Investments.
US markets
Wall Street stocks were mixed early Tuesday as oil prices pulled back while traders weighed the likelihood of a longer ceasefire in the Middle East war.
The tech-heavy Nasdaq Composite Index dipped 0.3 percent to 27,008.58.
US President Donald Trump earlier said that Iran talks were moving rapidly and that Israel and Hezbollah had agreed to stop fighting.
European Markets
Europe's STOXX 600 was up nearly 0.8% in morning trading, as a strong forecast from chipmaker STMicroelectronics lifted technology stocks.
Tech View
On the downside, immediate support is placed at 23,420. A breach below this level could trigger another decline towards 23,200. On the upside, resistance is positioned around 23,600.
Most active stocks in terms of turnover
Infosys (Rs 4,552 crore), HDFC Bank (Rs 3,525 crore), RIL (Rs 3,061 crore), TCS (Rs 2,735 crore), ICICI Bank (Rs 2,202 crore), BSE (Rs 2,198 crore) and BSE (Rs 2,198 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 54.15 crore), JP Power (Traded shares: 27.56 crore), NHPC (Traded shares: 21.24 crore), IFCI (Traded shares: 10.57 crore), Suzlon Energy (Traded shares: 10.34 share), NMDC (Traded shares: 10.21) were among the most actively traded stocks in volume terms on BSE.
Stocks showing buying interest
Newgen Software, Alkyl Amines, Concord Biotech, Acme Solar Holdings, JM Financial, Hexaware Technology and IFCI were among the stocks that witnessed strong buying interest from market participants.
52-week high
Among the ones which hit their 52 week highs included Acme Solar, IFCI, PTC Industries, HFCL, NMDC Steel and NMDC.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Wockhardt, NHPC, Force Motors, Orient Refractories, Schneider, New India Assurance and ABB Power.
Sentiment meter favours bears
Out of the 4,377 stocks that traded on the BSE on June 2, Tuesday, 2,244 stocks witnessed advances, 1,970 saw declines while 163 stocks remained unchanged.
