Sensex settles at 76,917.85 as four-session rally lifts indices to day's high
Indian equities closed at their highest levels of the day on Tuesday, with the Sensex adding 1,225.07 points, or 1.62%, to settle at 76,917.85 and the Nifty gaining 370.05 points, or 1.58%, to 23,810.85 — a fourth straight session of gains. The advance came as crude oil eased from recent peaks and foreign fund inflows picked up.
Ponmudi R, chief executive of Enrich Money, said the rally may give way to consolidation as investors lock in profits, with WTI crude stabilised around $96–$97 a barrel easing some concerns over imported inflation and India's external balances. GIFT Nifty was trading near 23,718, down about 40 points or 0.17%, pointing to a negative opening on Wednesday.
On the technicals, Sachin Gupta of Choice Equity Broking put immediate Sensex support at 76,000–76,300 and resistance at 77,000–77,200, with a decisive break above 77,200 opening the door to further upside. He cautioned that the RSI is approaching overbought territory and the index is trading above its upper Bollinger Band, so intermittent profit-booking cannot be ruled out.
Osho Krishan of Angel One said the Nifty has retraced nearly 61.80% of its recent decline and reclaimed its 20, 50 and 100 EMAs in succession, with the 200-day SMA now the next hurdle. Abroad, the Dow closed nearly 200 points lower while the Nasdaq 100 finished 0.7% higher, and investors were awaiting US midterm election results. South Korea's Kospi rose 2.82% to 5,808.25, Japan's Nikkei 225 fell 1.1% to 62,386.83 and Taiwan's Taiex gained 0.38% to 43,473.97.
