Mumbai: The BSE benchmark Sensex surged 1,131 points to reclaim the 75,000 mark on Tuesday, extending its previous session’s rally. The NSE Nifty also gained 1.45 per cent amid widespread buying and strong global cues.
The 30-share Sensex jumped 1,131.31 points (1.53 per cent) to settle at 75,301.26 after touching an intraday high of 75,385.76. The broader Nifty 50 climbed 325.55 points (1.45 per cent) to 22,834.30, reflecting bullish sentiment across sectors.
Key Gainers and Laggards
Several blue-chip stocks saw significant gains, with Zomato leading the charge, rising over 7 per cent. Other top performers included ICICI Bank, Mahindra & Mahindra, Tata Motors, L&T, Asian Paints, Titan, Kotak Mahindra Bank, and SBI.
However, some stocks lagged behind, including Bajaj Finserv, Bharti Airtel, Tech Mahindra, and Reliance Industries. Bajaj Finserv shares fell over 1 per cent after announcing plans to acquire a 26 per cent stake from Allianz SE in its insurance ventures, Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance.
Global and Domestic Market Trends
Asian markets, including Seoul, Tokyo, Shanghai, and Hong Kong, ended in positive territory. European markets were also trading higher, mirroring overnight gains in US equities.
According to Vinod Nair, Head of Research at Geojit Financial Services, global optimism fueled the rally. “Improved US and China retail sales data boosted investor confidence. Additionally, a weaker dollar index and lower crude prices provided further support,” he noted.
Despite this rally, foreign institutional investors (FIIs) remained net sellers, offloading Rs 4,488.45 crore worth of equities on Monday. On the other hand, domestic institutional investors (DIIs) bought stocks worth Rs 6,000.60 crore, helping sustain the market momentum.
Oil Prices and Future Outlook
Brent crude, a key factor influencing global markets, rose 1.48 per cent to $72.12 per barrel. Analysts believe that a revival in domestic earnings, coupled with favorable global trends, could continue supporting Indian equities.
However, concerns persist over continued FII outflows, higher risk-free rates, and global trade uncertainties, particularly in China-related tariffs. These factors may temper investor enthusiasm in the near term.
Market Recap
On Monday, the Sensex had already snapped a five-day losing streak, gaining 341.04 points (0.46 per cent) to settle at 74,169.95. The Nifty had risen by 111.55 points (0.50 per cent) to 22,508.75.
Tuesday’s rally marked a strong recovery, with market sentiment buoyed by global optimism and domestic institutional buying, signaling renewed investor confidence in Indian equities.
