The Indian stock market recorded gains on Tuesday, with Sensex and Nifty erasing all morning losses to sharply swing into the green as market witnessed strong volatility on first expiry day since the launch of closing auction session (CAS). Sensex gained nearly 287 points to close at 77,656 while Nifty 50 gained 115 points to end the session at 24,334 on Tuesday.

Broader markets remained mixed, with Nifty Smallcap 100 closing in the red and Nifty Midcap 100 in the green. Here's how analysts read the market pulseThe much-anticipated US sanctions against Iran fell short of market expectations, causing crude oil prices and bond yields to moderate from their recent peaks, said Vinod Nair, Head of Research, Geojit Investments.

He noted that this relief in energy costs aided a moderately positive close today on the monthly expiry day. Outperforming the broader market, healthcare and financial sectors gained as investors rotated into defensive and domestic-oriented sectors with signs of some stability in the domestic bond market.

Market participants are now awaiting upcoming inflation data and comments from the Fed Chair later this week for better clarity on the inflation and interest rate outlook, he said. However, near-term cautiousness is expected to continue for Indian equities as unresolved US-Iran tensions keep oil prices and bond yields relatively elevated, leaving investors sensitive to sudden shifts in the Middle East geopolitical landscape, according to the analyst.

Tech viewNifty remained sideways to negative for most of the session until the last hour, when the index rose from the ashes and moved deep into positive territory, said Rupak De, Senior Technical Analyst at LKP Securities. He noted that a strong CAS closing added some more points to the positive finish.

“The index climbed back above the 20 EMA after a few days of underperformance. The RSI has entered a bullish cross over, indicating that momentum is improving.

In the short term, the trend may remain strong, with the possibility of further upside. On the higher side, resistance is placed at 24,400/24,480.

On the lower side, immediate support is placed at 24,240,” according to the analyst. Most active stocks in terms of turnoverFACT (Rs 3,053 crore), Hindustan Copper (Rs 2,391 crore), Vodafone Idea (Rs 2,286 crore), Paytm (Rs 1,696 crore), SAIL (Rs 1,271 crore), HDFC Bank (Rs 1,270 crore), and ICICI Bank (Rs 1,134 crore) were among the most active stocks on NSE in value terms.