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The Indian equity market remains range-bound, with Nifty facing support at 24,600–24,800 and resistance near 25,000. Momentum is weak despite positive cues. Traders are advised to focus on select sectors and resilient stocks like AB Capital and Adani Ports, using appropriate stop losses for short-term trades.
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Indian equities closed higher on Tuesday, fueled by Infosys’ share buyback announcement, which boosted IT stocks. Optimism surrounding potential GST cuts and growing expectations of a U.S. interest rate reduction further supported market sentiment. The Sensex and Nifty both gained, with IT and consumer discretionary sectors leading the advance.
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The rupee weakened by 3 paise to close at 88.12 against the US dollar due to persistent foreign fund outflows and concerns over potential US tariffs on India. Global trade uncertainties and remarks from a White House trade advisor further pressured the rupee.
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Data from the quarter reveals a worrying trend: most retail-favourite stocks have delivered negative returns despite their popularity. However, Tata Motors broke the pattern with a 4.5% gain in Q2FY26, while Tata Steel also managed a 5.7% rise, making them the only two gainers among the top ten.
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Market expert Gautam Shah believes Indian equities are nearing a breakout after months of stagnation. With strong government reforms, supportive liquidity, and key resistance at 24,850, Nifty could soon test 25,000 and aim for lifetime highs of 26,200.
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