Domestic equities closed higher on Tuesday, supported by positive Asian cues and a sharp drop in crude oil prices following improved traffic at the Strait of Hormuz. According to reports from The Economic Times, the rally was further boosted by growing expectations of an imminent India-US trade deal. Bond yields also sharply declined, supported by fresh capital inflows following recent debt market policy reforms. The S&P BSE Smallcap index closed at 46,825.31, down 2.19% for the day, while the S&P BSE Sensex ended at 76,728.37 with a marginal decline of 0.48%.
Finolex Cables has exhibited a strong bullish setup as the stock has rebounded sharply from its recent consolidation and is approaching a crucial resistance zone near its previous swing high. As reported by The Economic Times, the price is trading well above its key short-term, medium-term, and long-term moving averages, reflecting sustained buying interest and a strong underlying trend. Virat Jagad, Sr Technical Research Analyst at Bonanza Portfolio, recommends buying the stock with a buying zone of ₹570, stop-loss at ₹524, and target of ₹660.
Zydus Wellness has exhibited a strong bullish setup as the stock has delivered a decisive breakout above its long-term resistance zone, confirming the continuation of its primary uptrend. According to The Economic Times, the price is trading above all key short-term, medium-term, and long-term moving averages, reflecting sustained buying interest and robust trend strength. The stock emerged as a top performer in the BSE Small-Cap segment, trading at ₹570.30 with a gain of 10.49% and high volume of 2,321.29 thousand shares. The recommendation includes a buying zone of ₹1,180, stop-loss at ₹1,114, and target of ₹1,297.
The BSE Small-Cap index witnessed mixed performance with RAMCO SYSTEMS leading the gainers with a surge of 11.86% to ₹793.90, followed by Zydus Wellness which gained 10.49% to ₹570.30. Other notable performers included Keystone Realtors (10.23% to ₹423.45), Premier Exploration (9.28% to ₹808.15), and Schneider Electric Infrastructure (9.26% to ₹1,458.45). On the downside, Netweb Technologies declined 9.9% to ₹3,548.30 and Dhani Services fell 8.6% to ₹429.19, reflecting selective buying interest in specific sectors.
