Mumbai (Maharashtra) [India] August 7 : Indian equity indices ended marginally higher after a choppy trading session, as investors weighed global headwinds against domestic resilience.
At the end of today's trading session, the Sensex was up 79.27 points or 0.10 per cent at 80,623.26, while the Nifty 50 at the National Stock Exchange (NSE) ended at 24,596.15, up 21.95 points.
In the Nifty 50 basket, Hero MotoCorp and Tech Mahindra emerged as the top gainers, reflecting strength in the auto and IT segments. On the flip side, Adani Enterprises and Adani Ports were among the top laggards, dragging on the broader index.
Sectorally, the market breadth was largely positive. Barring Nifty Oil & Gas and Nifty Realty, all other sectoral indices ended in the green. Nifty Media and Nifty IT led the gains, supported by renewed investor interest.
"Early jitters from Donald Trump's renewed tariff rhetoricwhich proposed a 25 per cent additional levy on Indian importswere largely absorbed by the market. Sectors with high U.S. export exposure like textiles, jewellery, and auto ancillaries remained under pressure, but a late-session rebound in banking and FMCG helped offset broader losses," said Vikram Kasat, Head - Advisory, PL Capital.
"With Nifty holding above the 24,500 mark, momentum remains positive in the short term, but global cues will dominate sentiment," he said.
Sudeep Shah, Head - Technical and Derivatives Research, SBI Securities, said as long as Nifty trades above the 24450 mark, the momentum is likely to remain positive.
"Going ahead, the support zone of 24480-24450 will be crucial for the index. As long as Nifty trades above the 24450 mark, the momentum is likely to remain positive, paving the way for a further pullback rally towards 24700, and eventually 24850 levels," said Sudeep Shah, Head - Technical and Derivatives Research, SBI Securities.
In the begining of the trading today, selling pressure was seen in Indian markets after US President Donald Trump announced an additional 25 per cent tariff on Indian goods.
With this new move, Indian exports to the United States have now become 50 per cent more expensive. The news triggered concerns among investors, leading to a sell-off across major indices.
SBI Securities, in a market note said that a lack of clarity around trade negotiations between India and the United States is adding to market nervousness.
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