Indian Markets Try to Bounce Back Amid Uncertainty and Technical Signals

After a significant decline on Monday, Indian stock markets opened with slight gains on Tuesday. Experts remain cautious due to underlying bearish momentum and the potential impact of policy changes. Investors are advised to pay close attention to key levels for signs of market direction.

Indian stock markets showed modest recovery on Tuesday, following a steep decline on Monday as both major indices opened in the green. The Nifty 50 began at 23,679.90, gaining 63.85 points. Meanwhile, the BSE Sensex opened with an increase of 54.81 points, indicating cautious optimism.

Market experts attributed Monday's downturn to panic selling spurred by HMPV case fears. Ajay Bagga, a noted Banking and Market Expert, emphasized the need for strong economic signals such as a favorable budget and rate cuts to bolster sentiment. He further mentioned that the market's outlook remains 'cloudy', pending further policy clarity.

Sector-wise analysis revealed marginal gains, with Nifty Consumer Durables and Nifty Oil and Gas leading the charge. Top gainers in the Nifty index included ONGC and Tata Consumers, while NTPC and Axis Bank were notable losers. Analysts are advising investors to stay watchful of technical indicators showing mixed signals amid ongoing market volatility.

(With inputs from agencies.)