GIFT Nifty traded up merely 4 points, or 0.02%, at 19,815, indicating a tepid opening for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously on Monday, the NSE Nifty 50 slipped 0.10% to settle at 19,731.75, while the BSE Sensex shed 115.81 points to 66,166.93. 

“Markets mostly wavered in Monday’s trade amidst volatility and ended in the red for the third straight session. Cautious mood prevailed in the wake of the intensifying Israel-Hamas conflict, and the geopolitical turmoil had an outsized effect on U.S. crude futures which soared to $87.69 per barrel. If today’s uninspiring session is any indication, then the market will waver and trade choppy in Tuesday’s session as well. Technically, the confirmation of strength for Nifty only above its biggest hurdles at the 19,887 mark, while the index has the biggest support at the 19,509 mark,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.

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