Markets were holding ground at midday on Tuesday, with the Nifty 50 trading at 24,033.95, up a marginal 2.25 points or 0.01 per cent, as of 12.32 pm IST. The Sensex was at 76,379.59, down 109.37 points or 0.14 per cent, as of 12.34 pm.
The session follows Monday’s 1,073-point Sensex surge and reflects a consolidation phase, with broader market breadth remaining positive — 2,354 stocks advancing against 1,627 declining on the BSE, with 208 unchanged. As many as 173 stocks hit the upper circuit while 124 hit the lower circuit. A total of 127 stocks touched 52-week highs against 33 at 52-week lows.
The muted midday tone comes despite broadly constructive geopolitical signals. Reports of fresh US military strikes on select targets in Iran initially kept traders on edge, but comments from U.S. President Donald Trump indicating progress in ongoing peace negotiations helped steady sentiment. Markets have largely interpreted the strikes as a calibrated response rather than a signal of broader escalation.
Crude oil prices were stabilising in the $90–$92 per barrel range following the recent sharp correction, providing continued relief on the inflation and import cost front for the Indian economy. On MCX, June crude oil futures were trading in the ₹8,700–₹8,750 zone after opening with a gap up. USD/INR was holding above the ₹95.40 mark, recovering from a recent historic intraday low near ₹96.90, though persistent dollar strength continues to exert mild pressure on the rupee.
Among Nifty 50 gainers, led the pack, rising 2.96 per cent to ₹384.30 from a previous close of ₹373.25. Adani Enterprises surged 2.90 per cent to ₹2,932.20 against a previous close of ₹2,849.70. Coal India extended its morning gains, climbing 2.24 per cent to ₹468.25 from its previous close of ₹458.00. Bajaj Auto added 1.14 per cent to ₹10,610.50 from ₹10,491.00, while ONGC edged up 1.02 per cent to ₹287.85 from ₹284.95. The gains in Coal India and ONGC reflect continued investor interest in PSU energy names, which have benefited from the recent stabilisation in crude prices and improving sentiment in the broader public sector space.
On the losing side, healthcare and private banking stocks faced selling pressure. Apollo Hospitals was the top loser, falling 1.24 per cent to ₹8,299.50 from its previous close of ₹8,404.00. Kotak Mahindra Bank dropped 1.18 per cent to ₹388.20 from ₹392.85, while Axis Bank slipped 0.88 per cent to ₹1,299.60 from ₹1,311.20. ITC declined 0.74 per cent to ₹301.70 from ₹303.95, and SBI Life Insurance fell 0.64 per cent to ₹1,889.70 from ₹1,901.90.
Bank Nifty, which closed at 55,293.65 on Monday with a gain of 1,238 points, was attempting to hold above the 55,378 zone in midday trade, with the 55,600 mark serving as an immediate hurdle for further upside. Weakness in Kotak Mahindra Bank and Axis Bank was capping momentum in the banking index even as overall sentiment in the sector remained cautiously positive.
On the commodities front, COMEX Gold was trading in the $4,530–$4,560 range with a cautious bias, while MCX Gold was holding above ₹1,58,000. COMEX Silver was maintaining ground above the $77 mark, and MCX Silver was trading above ₹2,73,000, both opening with mild gap-downs. Safe-haven demand and geopolitical developments continue to set the direction for precious metals.
With the monthly Nifty F&O expiry underway and the BSE expiry due on Wednesday, expiry-driven positioning is expected to dominate the second half of the session, with the risk of sharp intraday reversals as institutions rebalance derivative exposure ahead of settlement.