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The short-term outlook for Nifty remains weak, with a decisive drop below 24,000-23,900 potentially pushing Nifty down to the next support level of 23,625. Immediate resistance is at 24,190, according to Nagaraj Shetti of HDFC Securities. Open Interest (OI) data indicates the highest OI on the call side is at the 24,300 and 24,500 strike prices, while on the put side, it is concentrated at the 23,500 strike price.

Gold and silver have shown resilience, closing higher last week despite some late-week profit-taking driven by a weaker jobs report. The precious metals benefited from geopolitical tensions in the Middle East, heightened risk aversion, and dovish Federal Reserve expectations.

TBO stands out as one of the few established internet companies with a history of robust and consistent profitable growth, and exceptionally high return ratios. It achieved a GTV CAGR of 25% from FY17 to FY24 and has been profitable since FY16, with a PAT exceeding Rs 200 crore in FY24. Notably, this growth was fueled by strong internal accruals, with only Rs 60 crore raised from external funds pre-IPO.

The S&P BSE Sensex closed at 78,593 while the Nifty50 settled at 23,992 on Tuesday. Sectorally, buying was seen in FMCG, IT and realty stocks while consumer durables, telecom, banks and PSU stocks saw selling pressure.

The Nifty Pharma index closed 0.09 per cent down at 21562.55.

Tata Power today reported a consolidated net profit of Rs 1,189 crore for the quarter ended June 30, 2024, which was up by over 4% from Rs 1,141 crore reported by the company in the year ago period.

​So, I think that macro spasm which market in the West are going through, I think that will unwind and it will pave way for a better macro. I think the other two parts which is valuation and economic growth those are more durable in nature and the pain could persist.

Even a healthy Tuesday rebound in equities is unlikely to temper the broad unease growing across financial markets. Investors that buy and sell based on quantitative measures, such as volatility, have offloaded $130 billion of stock bets the past few weeks and that process may accelerate in the days and week ahead.

But as far as the Indian markets are concerned, it is an extremely strong market, minus the fact that the US could be going into a slowdown and it is difficult to kind of gauge the extent of the slowdown as yet but it is certainly going into a slowdown and which is going to trigger interest rate cuts from the Federal Reserve. So, minus that concern which will probably impact global-facing sectors, India is in a bull market, stay invested in India.