Indian stock markets closed sharply higher on Tuesday, with both the Sensex and Nifty delivering notable gains, driven by broad-based buying across sectors.
The Sensex jumped 1,131.31 points, or 1.53 per cent, to settle at 75,301.26, while the Nifty advanced 325.55 points, or 1.45 per cent, finishing the session at 22,834.30. During intraday trade, the Sensex touched a high of 75,385.76, and the Nifty oscillated between 22,599.20 and 22,845.95.
This marked the second consecutive session of strong performance for the benchmark indices, buoyed by sustained investor optimism.
According to Sundar Kewat from the Institutional Equity Desk, the rally was predominantly supported by gains in realty, automobile, metal, and banking stocks. “From an options data perspective, we noticed the highest open interest on the call side at 23,000 and 23,500 levels, while the put side showed concentration at 22,500 and 22,700,” Kewat noted.
Adding to the bullish sentiment was softer-than-expected US retail sales data, which spurred hopes that the Federal Reserve may consider cutting interest rates later this year. This global cue, combined with robust domestic fundamentals, contributed to the day’s strong momentum.
The overall market breadth remained firmly positive, with 2,715 stocks advancing, 1,153 declining, and 117 remaining unchanged. Leading the gains on the Nifty were stocks like ICICI Bank, Mahindra & Mahindra, Shriram Finance, Larsen & Toubro, and Tata Motors. However, Bajaj Finserv, Bharti Airtel, and Tech Mahindra were among the few counters that ended in the red.
Sectorally, all indices closed in positive territory. Notable gains were seen in auto, capital goods, consumer durables, metal, power, realty, and media stocks, which rose between 2 to 3 per cent.
The upbeat mood extended to the broader markets as well. The Nifty Smallcap100 index surged by 2.71 per cent, while the Nifty Midcap100 index climbed 2.10 per cent, reflecting strong participation from small- and mid-cap counters.
Additionally, the Indian rupee appreciated against the US dollar, strengthening by 23 paise to end at 86.56 per dollar, compared to the previous close of 86.79.
Investor confidence remained robust, lifting the markets to fresh highs and signalling positive sentiment across sectors.
—IANS
