India’s benchmark indices extended their rally, reaching record highs for the fourth consecutive session on Tuesday. The Nifty crossed the 26,000 mark for the first time, while the Sensex surged past 85,000.
At the close of trading, the Sensex settled at 84,914.04 points, a slight dip of 14.57 points or 0.017 percent, while the Nifty ended marginally higher at 25,940.40 points, gaining 1.35 points or 0.0052 percent.
Among the sectoral indices, Nifty Metal led the gains, surging 2.97 percent.
Rupak De, Senior Technical Analyst at LKP Securities, said, “For the rally to sustain, Nifty must decisively break above the 26,000 level. Until then, we expect range-bound movement, with the index fluctuating between 25,800 and 26,000 over the next few hours to a few days.”
The recent 50-basis-point rate cut by the U.S. Federal Reserve has boosted Indian markets. Lower U.S. interest rates tend to drive capital inflows into markets like India, offering higher returns.
Additionally, strong buying by foreign portfolio investors (FPIs) provided further support to the indices. Data from the National Securities Depository Limited (NSDL) shows FPIs have invested ₹48,872 crore in Indian stocks so far in September, marking the fourth consecutive month of net buying.
With limited domestic triggers, Indian markets are expected to mirror global trends in the coming days.
Shrikant Chouhan, Head of Equity Research at Kotak Securities, said, “While the short-term market outlook remains positive, the overbought conditions may lead to range-bound activity in the near future.”
(With ANI input)
