Mumbai: The benchmark BSE Sensex soared over 900 points on Tuesday morning, reclaiming the 75,000 mark, driven by a positive global market trend and strong buying in banking stocks. The 30-share Sensex surged 901.43 points to reach 75,071.38, while the NSE Nifty climbed 265.9 points to 22,774.65, extending the previous session’s rally.
Bank Stocks Lead Gains, Bajaj Finserv Declines
Among the Sensex constituents, Zomato, ICICI Bank, Asian Paints, Larsen & Toubro, Mahindra & Mahindra, Tata Motors, NTPC, Adani Ports, and Hindustan Unilever emerged as the top gainers. Meanwhile, Bajaj Finserv, Bajaj Finance, Reliance Industries, and IndusInd Bank were among the laggards.
Bajaj Finserv shares declined 2 per cent after the company announced that it had signed Share Purchase Agreements to acquire a 26 per cent stake owned by Germany’s Allianz SE in its insurance subsidiaries—Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance.
Positive Global Cues Drive Sentiment
Asian markets traded in the green, with Seoul, Tokyo, Shanghai, and Hong Kong posting gains. Wall Street had also ended higher on Monday, providing further support to Indian equities.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted that the market may have bottomed out, though intermittent corrections cannot be ruled out. He highlighted strong domestic economic indicators, such as:
– GDP growth rebounding to 6.2 per cent in Q3 FY25
– Industrial production (IIP) showing an uptick
– Gross tax collections rising
– Trade deficit declining
CPI inflation easing to 3.6 per cent
However, he cautioned that while these domestic factors are positive, global challenges such as tariff wars could limit further sustained upside.
FIIs Remain Net Sellers, Crude Oil Gains
Foreign Institutional Investors (FIIs) continued selling pressure, offloading equities worth Rs 4,488.45 crore on Monday. In contrast, Domestic Institutional Investors (DIIs) purchased Rs 6,000.60 crore worth of stocks, as per exchange data.
Meanwhile, Brent crude oil rose 0.32 per cent to $71.33 per barrel, which could impact inflation and market sentiment in the coming sessions.
Previous Session Recap
On Monday, the Sensex ended its five-day losing streak, gaining 341.04 points (0.46 per cent) to close at 74,169.95. The Nifty rose by 111.55 points (0.50 per cent), settling at 22,508.75.
With strong buying activity and favorable macroeconomic trends, investors remain cautiously optimistic about the market’s trajectory in the near term.
