Energy, auto, FMCG, and textile stocks led the gains. Retail sentiment shifted to bullish on Stocktwits.
Indian equity markets ended higher on Tuesday as optimism over a potential resolution of the Russia-Ukraine conflict kept investor sentiment upbeat. And while the Nifty index breached the 25,000 level, it failed to close above it.
On Tuesday, the Sensex closed 370 points higher at 81,644, while the Nifty 50 ended up 103 points at 24,980. Broader markets outperformed, with the Nifty Midcap index rising 1% and the Smallcap index ending 0.7% higher.
And the retail investor sentiment surrounding the Nifty 50 moved from ‘neutral’ to ‘bullish’ by market close on Stocktwits.
Stock Moves
Sectorally, barring pharmaceuticals, the rest of the indices ended in the green, led by energy, auto, and FMCG.
Tata Motors (+3.6%) ended as the top Nifty gainer following news that China reportedly removed export curbs on fertilizers, rare earth magnets, minerals, and tunnel boring machines. Other auto stocks such as Maruti rose 1%, while Motherson Sumi surged 6%.
Reliance shares ended 3% higher after Jio hiked entry tariffs, and its FMCG arm expanded into beverages with a joint venture with Naturedge Beverages.
Cotton textile stocks such as Welspun Living (+4%), Vardhman Textiles (+6%), Ambika Cotton (+7%) rose after the government paused the 11% import duty on raw cotton for 42 days, effective August 19 to September 30.
Sarda Energy gained 2% after winning the bid for the Senduri Coal Mine in Madhya Pradesh.
AB Capital, L&T Finance, JSW Steel, Force Motors and Belrise were among the 70 stocks that hit fresh 52-week highs.
Stock Calls
Analyst Front Wave Research flagged breakout potential in VA Tech Wabag after months of consolidation (₹1,300–1,700 zone) as its orderbook continues to expand, driven by new domestic infra wins & international projects. A decisive close above ₹1,650 could trigger a rally toward the ₹2,000+ zone over the coming quarters.
Analyst Rakesh Singhal said Just Dial stock was trading near the support zone of ₹815-₹820. Keep a stop loss below ₹790 on a closing basis. He expects the stock to recover and test ₹950, ₹990 in the next three to six months.
On Ola Electric, Singhal said that the stock is near its support zone of ₹39-₹40, with a stop loss below ₹38 on a closing basis. The stock can recover and touch ₹44.5, ₹48 in the next three to six months with a good risk-reward.
Markets: What Next?
Globally, European markets traded higher, while US stock futures indicate a cautious start on Wall Street.
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