The Indian stock market extended its winning streak for the sixth consecutive trading session on Tuesday, driven by strong performances in fast-moving consumer goods (FMCG) and private banking stocks.
The Sensex opened on a positive note, rising 320 points to touch 79,728. However, it briefly slipped into negative territory, hitting a low of 79,253 due to weak cues from overnight losses in the US markets. Despite the early dip, the index rebounded swiftly and traded in positive territory for the remainder of the session, eventually touching an intra-day high of 79,824. It closed at 79,596, up 187 points or 0.24%.
With Tuesday’s close, the Sensex has gained 5,749 points, or 7.8%, over the last six trading sessions, reflecting strong momentum in domestic equities.
The Nifty mirrored a similar trajectory. It fell to 24,072 in early trade but quickly recovered to reach an intra-day high of 24,243. The index ended the day 42 points or 0.2% higher at 24,167.
The rally coincided with a milestone for the National Stock Exchange (NSE), which marked its 29th anniversary on Tuesday.
Over the past six sessions, the Nifty has added 1,768 points, or 7.9%, underscoring sustained investor confidence despite global market uncertainties.
Market analysts attribute the ongoing uptrend to steady buying in select sectors, particularly FMCG and banking.
“For the Nifty, the highest open interest on the call side was observed at the 25,500 and 24,200 strike prices, while on the put side, it was concentrated at the 24,000 and 23,000 levels,” said Sundar Kewat of Ashika Institutional Equity. “The Put-Call Ratio (PCR) stood at 1.05, indicating a mildly bullish sentiment.”
The Bank Nifty was a key driver of the rally, buoyed by the Reserve Bank of India’s decision to relax final Liquidity Coverage Ratio (LCR) norms, effective from April 2026.
Beyond banking, sectors such as Realty, Consumer Durables, and FMCG also posted notable gains. The IT sector was the only major index to close in the red.
“Globally, US markets remained under pressure, weighed down by continued selling,” Kewat added.
— IANS
