Stock markets end higher, marking third consecutive day of consolidation

At the end of the trading, Nifty50 closed at 23,311.80, up over 98 points or 0.42 per cent, while BSE Sensex ended at 77,042.82, up about 318 points or 0.42 per cent.

The session began with an upside gap, followed by a range-bound movement, ending at 23,311.80 level.Sectoral performance remained mixed, with metals and energy showing a decent recovery, while FMCG and pharma sectors closed lower. Broader indices outperformed, registering gains between 1.1 per cent and 1.8 per cent.

"Markets will react to the earnings reports of major index constituents such as Reliance, Infosys, and Axis Bank in early trades. While recent index movements have lacked clear direction, the resilience of the banking sector, which carries significant weight, is a positive sign. Amid these mixed signals, participants should prioritize selective stock picking and robust risk management strategies," stated Ajit Mishra - SVP, Research, Religare Broking Ltd.

VLA Ambala, Co-Founder of Stock Market Today stated that the market is looking forward to the upcoming Union Budget for FY25-26, with stock-specific action dominating the session.

Notably, railways and PSUs became the focus in today's session, driven by expectations that Indian Railway's capital spending might increase by 15-20 per cent, potentially rising from Rs. 2.65 lakh crore in FY25 to over Rs. 3 lakh crore in FY26.

"India's total capital expenditure for FY25 is estimated at Rs 11.1 lakh crore, up from Rs. 10 lakh crore in FY24, with public investment in railways seen as crucial for attracting private investment and boosting economic growth," she added.

According to market analysts, the ceasefire between Israel and Hamas, coupled with the release of hostages, is viewed as a big step towards mitigating international tension.

"This move indicates global stability in the future with safe trade routes. As a major importer of oil, India was going through a lot of challenges in calming the crude oil prices. This deal could potentially lower crude oil prices and help stabilize INR valuation to some extent," Ambala added.

She further added that amid these major developments, Nifty formed a bearish Marobozu candlestick pattern during the session and is likely to expect a support level between 23,250 and 23,150.

During the trading today, the stocks of PSU bank, power, metals were seen rallying.

In today's trade, about the stocks of 2669 companies advanced, 1132 stocks declined, and 101 stocks remanied unchanged.

The market gainers were HDFC Life, Shriram Finance, SBI Life Insurance, Bharat Electronics, Adani Ports while the stocks of Trent, Tata Consumer, Dr Reddy's Labs, HCL Tech, Wipro remained the major losers on national Stock Exchange.

On the sectoral front, except Consumer Durables, IT, FMCG, pharma, all other sectoral indices eneded in the green territary. The sectoral indices of metal, media, oil & gas, PSU bank, realty, auto were up between 0.5-2.5 per cent. (ANI)