New Delhi: In what is being seen as a sustained enhancement, the Indian equity benchmarks Sensex and Nifty notched up gains for the third consecutive session on Tuesday. The climb was powered by advances in the telecommunications, technology, and consumer durable sectors, finding further support from a robust trend in global markets.
The trading day saw the BSE Sensex rise by over 400 points, before concluding the session 89.83 points higher, a modest increase of 0.12 percent to close at 73,738.45. The impressive intra-day peak reached 74,059.89, up by 411.27 points, which reflects a 0.55 percent increment.
The broader NSE Nifty, paralleling the surge and subsequently relinquishing most of its initial gains, wrapped up at 22,368—up by 31.60 points or 0.14 percent. These figures were underpinned by the considerable elevation during the day, where the Nifty scaled up by 111.15 points, or 0.49 percent, to 22,447.55.
However, a significant drag came from heavy selling pressure in Reliance Industries, a substantial index heavyweight, predominantly owing to profit-booking activity. Subsequently, Reliance shares dipped over one percent, ending the trade at Rs 2,918.50 per share.
The ensemble of Sensex gainers featured prominent names including Bharti Airtel, Nestle, Maruti, Tata Motors, HCL Technologies, NTPC, Asian Paints, and State Bank of India. Each of these entities contributed to the upward trajectory of the market indicators.
Conversely, a faction of stocks, namely Sun Pharma, Reliance Industries, Mahindra & Mahindra, JSW Steel, Tech Mahindra, and Bajaj Finance, were oriented on the losing spectrum.
Furthermore, Asian Markets exhibited a mixed bag with Tokyo and Hong Kong closing higher, while Seoul and Shanghai bared losses. In sync with the uplifted mood, European markets operated in the green, and Wall Street concluded Monday’s session on a positive note.
Global oil benchmark Brent crude saw a price uptick of 0.41 percent, reaching USD 87.36 per barrel, reflecting broader economic sentiments.
It was discerned from exchange data that Foreign Institutional Investors (FIIs) liquidated equities to the tune of Rs 2,915.23 crore on Monday, marking a resumption of selling after a brief hiatus.
The preceding day had witnessed considerable momentum where the BSE benchmark surged 560.29 points or 0.77 percent to settle at 73,648.62, while the NSE Nifty experienced a boost of 189.40 points, equating to an augmentation of 0.86 percent, thus finalizing at 22,336.40.
The financial cosmos remained attentive to this ebb and flow while indices remained susceptible to the heavyweights’ market movements and global cues. Keeping in view the relentless overseas fund outflows, market participants remain cautiously optimistic about the continuity of the domestic rally amid external volatility.
The intertwining of international and national dynamics is indicative of the intricate fabric that connects economies, and the local markets’ perseverance suggests a robust confidence within the investor community, who seem to underscore the potential and resilience of the Indian markets against the backdrop of a fluid global economic landscape.
