Dalal Street Closes Higher As Sensex Ends Trade At 75,997, Nifty Tests 23,560

The Indian benchmark indices closed higher on Tuesday as the Sensex ended trade over 494 points higher at 75,997.26 and the Nifty ended at 23,558.80 or closed 150 points higher at 3:30 PM.

In the 30-share BSE Sensex, among the top gainers were stocks such as Eternal, Tata Steel, Mahindra and Mahindra, Bharat Electronics and Larsen and Toubro. Meanwhile, the laggards included stocks like Bajaj Finserv, Titan, the State Bank of India, Hindustan Unilever and HCLTech.

In the broader markets, the Nifty Midcap 50 and the Nifty Midcap 150 index gained 1.03 per cent as volatility remained high. Sectorally, the Nifty Metal jumped 2.82 per cent and the Nifty IT index fell 0.97 per cent.

Previously, during the early morning session, the BSE Sensex opened trading a little over 75,700, climbing almost 200 points, while the NSE Nifty50 started the day marginally higher above 23,400, as of 9:15 AM.

Markets Rebound After Three-Day Sell-Off

Benchmark indices staged a recovery on Monday as investors returned to blue-chip stocks at lower levels following a recent correction.

The 30-share BSE Sensex rose 938.93 points, or 1.26 per cent, to close at 75,502.85. During the session, it touched an intra-day high of 75,805.27 and a low of 73,949.76.

The Nifty 50 gained 257.70 points, or 1.11 per cent, to settle at 23,408.80.

Value Buying Lifts Large-Cap Stocks

Market participants attributed the rebound to value buying in select large-cap counters after the sharp losses seen in recent sessions.

The recovery was led by gains in domestically focused sectors, with banking, auto and FMCG stocks witnessing renewed investor interest as market participants accumulated quality names at relatively attractive valuations.

Relief Rally Amid Ongoing Caution

Analysts described Monday’s upmove as a relief rally following the recent sell-off, with investors selectively deploying capital in beaten-down stocks.

“The equity market staged a late-session rebound, supported by value buying in domestically oriented sectors such as auto, banking and FMCG,” said Vinod Nair, Head of Research at Geojit Investments Limited.

He added that near-term sentiment would remain sensitive to developments in the Strait of Hormuz, noting that any easing of supply chain disruptions could lend further support to markets.

Geopolitical Risks, Oil Prices Weigh On Sentiment

Ajit Mishra, SVP, Research at Religare Broking Ltd, said that despite the recovery, the broader mood remains cautious.

“Markets started the week on a volatile note and gained over a per cent, snapping their recent losing streak, supported by bargain buying. However, the overall mood remained cautious amid persistent geopolitical tensions in the Middle East and elevated crude oil prices, which continue to raise concerns over inflation and India’s import bill. In addition, continued foreign institutional investor outflows and currency volatility are keeping risk appetite in check,” he said.