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As the final market day of FY23-24 concluded, Indian markets experienced one of their best years, with the Nifty ranking among the top-performing markets in Asia, yielding nearly 29% USD return (second only to Japan). Conversely, China and Hong Kong faced significant underperformance.
On Tuesday, 1414 stocks advanced, 2545 declined and 141 remained unchanged, on the Bombay Stock Exchange (BSE) with an advance decline ratio of 0.55 indicating negative closing of stocks in broader markets.
From here on, if Nifty has to sustain at higher levels, contribution from the heavyweight banking space is a must. Since it is struggling around the bearish gap, it is better to wait for further clarification to project higher levels in Nifty, says Osho Krishan, Sr. Analyst - Technical & Derivative Research, Angel One.
Solara Active Pharma Sciences Q3 FY24 results: Revenue decreased by 36.99% YoY & loss at ₹275.34Cr
BSE's Sensex jumped 229.84 points, or 0.32 per cent, to settle at 71,336.80. NSE's Nifty50 rose 91.95 points, or 0.43 per cent, to end the day at 21,441.35 for the day.