Indian Stock Markets Inch Upward, Set Sights on Future Gains

The Indian stock markets ended their day on a positive note, barely rising above yesterday's closing levels. This follows a brief pause in a four-session winning streak. By the end of trading, the Nifty index had climbed 15.30 points, reaching 25,532.35, while the BSE's Sensex increased by 33.24 points, culminating at 83,639.70.

"Nifty has closed above the previous day's low," explained Praveen Dwarakanath, Vice President of Hedged.in, indicating that the previous sell-off was merely a profit-booking pause amidst a continuing rally. He pointed to smaller time frame momentum indicators, which suggest an upward trend could persist.

The day's trading saw Apollo Hospitals, Bharat Electronics Ltd (BEL), and Reliance Industries emerge as top gainers. Conversely, Nestle India and Axis Bank were among the major losers. Sector-wise, Nifty PSU Bank and Nifty Oil & Gas performed positively, while Nifty Media, FMCG, and Financial Services ended in the red.

Among the 3,020 stocks that changed hands, 1,491 advanced, 1,452 ended in decline, and 77 remained unchanged. VLA Ambala, co-founder of Stock Market Today, anticipates India's trade deals could influence specific sectors but not the overall market index.

For upcoming sessions, Ambala advises traders to focus on sectors like agriculture, gems, auto, textiles, electronics, pharma, renewables, handicrafts, and energy to identify opportunities. Additionally, gold saw modest gains, with prices rising by 1.58% to USD 3,359.25 in Comex and 1.29% to Rs 97,305 in MCX as of 15:46 IST.

(With inputs from agencies.)