Mumbai: Indian stock markets ended on a robust note on Tuesday, with both the Sensex and Nifty registering substantial gains.
The Sensex surged by 1,131.31 points, or 1.53 per cent, to close at 75,301.26, while the Nifty advanced 325.55 points, or 1.45 per cent, to settle at 22,834.30.
During the session, the Sensex reached an intra-day high of 75,385.76, while the Nifty fluctuated between 22,599.20 and 22,845.95. This marked the second consecutive session of strong gains for the benchmark indices.
“The rally was largely driven by realty, automobile, metal, and banking stocks, which significantly contributed to the market’s rise,” said Sundar Kewat of the Institutional Equity Desk.
From an options perspective, Kewat highlighted that the highest open interest on the call side was seen at 23,000 and 23,500, while put-side open interest was concentrated at 22,500 and 22,700.
He further noted that softer-than-expected US retail sales data had fuelled expectations that the Federal Reserve might consider interest rate cuts later this year.
The broad-based rally, with 2,715 stocks advancing, 1,153 declining, and 117 remaining unchanged, reflected continued investor confidence, pushing the markets to higher levels.
Among the top gainers on the Nifty were ICICI Bank, Mahindra & Mahindra (M&M), Shriram Finance, Larsen & Toubro (L&T), and Tata Motors. Conversely, Bajaj Finserv, Bharti Airtel, and Tech Mahindra were among the few stocks that ended lower.
Sectoral indices performed well, with all sectors closing in positive territory. Gains of 2-3 per cent were recorded in the auto, capital goods, consumer durables, metal, power, realty, and media sectors.
Broader markets also witnessed strong momentum, with smallcap stocks leading the rally. The Nifty Smallcap100 index surged 2.71 per cent, while the Nifty Midcap100 index gained 2.10 per cent.
Sectoral indices on the NSE also closed in positive territory, with gains of up to 3.62 per cent. Meanwhile, the Indian rupee strengthened against the US dollar, appreciating by 23 paise to close at 86.56 per dollar, compared to the previous close of 86.79.
