Sensex rose 47 points, Nifty closed above 24,200 as IT and banking stocks led a recovery from morning losses. INFY scored Moderate 57 on AlphaScala, HDB Mixed 48.
Indian equity benchmarks erased early losses and closed higher Tuesday, with the Sensex rising 47 points and the Nifty settling above the 24,200 mark. The recovery came as buying in IT and banking stocks offset weakness in other sectors.
Infosys Ltd and Wipro Ltd were among the gainers in the technology space, while HDFC Bank Ltd contributed to the banking rally. The Nifty IT index climbed more than 1%, tracking positive cues from global peers.
Traders said the market shrugged off early selling pressure linked to mixed global signals and domestic macro concerns. The session saw a broad-based recovery in the final hours, with advances outpacing declines on the BSE.
Among the trending stocks, SBI, Axis Bank, NTPC, and the two IT majors saw elevated trading volumes. The broader market also firmed up, with the BSE midcap and smallcap indices closing in the green.
On the AlphaScala platform, INFY carries a Moderate score of 57/100, while HDB scores Mixed at 48/100 and WIT scores Mixed at 46/100. The IT sector's relative strength Tuesday aligns with INFY's higher score among the three.
Market participants now await global cues and domestic economic data for directional triggers. The Nifty's ability to hold above 24,200 will be watched in the coming sessions.
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