Indian stock market closed in the green on Tuesday, with Sensex and Nifty recording marginal gains while broader markets outperformed sharply. This came as India VIX, which measures volatility in the market, falling nearly 9% to 15.56.
"Domestic markets are witnessing a mild recovery after the recent sharp decline, supported by a pause in Iran-Israel tensions and softer crude prices. However, sentiment remains fragile, with continued FII outflows and higher bond yields highlighting persistent concerns around evolving global macro dynamics. Focus is now on the upcoming US inflation data, which will be key in shaping expectations on Fed policy and global liquidity, especially given resilient US economic data. In the near term, markets are likely to remain volatile and range-bound, with investors staying cautious until clearer global cues emerge, even as Q4FY26 earnings were slightly better while the outlook for Q1FY27 remains weak,” said Vinod Nair, Head of Research at Geojit Investments.
Here's how analysts read the market pulse
"Nifty witnessed a recovery after forming an inverted hammer candlestick near its key support zone of 23,150–23,200, indicating buying interest at lower levels. Follow-through strength in the subsequent session suggests the index may extend its pullback towards the 23,350–23,400 zone in the coming sessions. However, the broader trend remains weak as the index continues to trade below its 20-day and 50-day SMAs while maintaining a lower-high and lower-low structure. RSI is placed at 39.6, reflecting subdued momentum. Hence, a level-based trading approach is preferred,” said Vatsal Bhuva, Technical Analyst at LKP Securities.
US Stocks
US markets dropped lower on Tuesday after opening in the green, led by a fall in tech and chip stocks, as Nasdaq droppe over 2%. Indexes swung lower as companies selling computer chips, memory and other building blocks of the AI boom broke from early gains to losses.
The weakness for AI stocks drowned out the benefit Wall Street got from easing oil prices. The price for a barrel of Brent crude oil dropped 3.3% to $91.12 after briefly topping $98 the day before.
European Markets
Global equities pared earlier gains on Tuesday as it saw little support from Wall Street where investors waited anxiously for inflation data while the dollar dipped with oil prices on hopes for easing Middle East tensions after Iran and Israel halted attacks on each other.
Tech View
According to Vatsal Bhuva from LKP Securities, Nifty 50 can find support at 23,000–23,100, while resistance is placed at 23,350–23,400. “A bullish confirmation would emerge only after Nifty reclaims its 20-day SMA and sustains above the 24,500 level,” he added.
“On the daily chart, the index formed a Dragonfly Doji, a pattern that is generally considered a bullish reversal signal. As long as the Nifty sustains above the 23,100 level, a follow-through move towards 23,400 is likely, with 23,500 acting as the next immediate resistance. Meanwhile, the volatility index, INDIAVIX, cooled off by 8% to 15.50, and any further decline in volatility could provide additional comfort to the bulls,” said Nilesh Jain, VP- Head of Technical and Derivative research at Centrum Finverse.
Most active stocks in terms of turnover
Reliance Industries (Rs 2,987 crore), HDFC Bank (Rs 2,846 crore), ICICI Bank (Rs 2,844 crore), Ola Electric Mobility (Rs 2,354 crore), SBI (Rs 2,210 crore), Bharti Airtel (Rs 1,873 crore) and Data Patterns (Rs 1,830 crore) were among the most active stocks on NSE 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: 95.82 crore), Ola Electric (Traded shares: 49.48 crore), Yes Bank (Traded shares: 10.05 crore), JP Power (Traded shares: 6.99 crore), HFCL (Traded shares: 6.67 crore), Suzlon Energy (Traded shares: 6.48 crore) and Canara Bank (Traded shares: 5.77 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Data Patterns (India), L&T Tech, PI Industries, Caplin Point, Cera Sanitary, Ola Electric Mobility and Concord Biotech were among the stocks that witnessed strong buying interest from market participants.
52-week high
Among the ones which hit their 52-week highs on NSE included Data Patterns (India), J&K Bank, RBL Bank, Syrma SGS, Federal Bank, Aster DM Health and Adani Green.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Tata Technologies, Schneider, Zee Entertainment Enterprises, Balrampur Chini, Krishna Institute of Medical Sciences, NLC India and Zensar Tech.
52-week low
Among the ones which hit their 52-week lows on NSE included Zensar Tech, Dalmia Bharat, Ramco Cements, Bayer Cropsciences, Wipro, TCS and Reliance Industries (RIL).
Sentiment meter favours bulls
Out of the 3,396 stocks that traded on the NSE on June 9, Tuesday, 2,380 stocks witnessed advances, 904 saw declines while 112 stocks remained unchanged.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
