Sensex Settles 370 Points Higher, Nifty Above 24,950; Tata Motors Up 3% | Markets News
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Equity benchmarks BSE Sensex and NSE Nifty50 began Tuesday’s session on a muted note, with no major market-moving cues
Stock Market Today
Sensex Today: Equity indices extended their winning streak for the fourth consecutive session on Tuesday, supported by strong gains in Reliance Industries and auto stocks.
The BSE Sensex opened marginally higher at 81,319 and climbed to an intraday high of 81,756, before closing at 81,644, up 371 points (0.5%). With this, the index has added 1,409 points over the last four sessions.
The NSE Nifty 50 once again tested the 25,000 mark, hitting a high of 25,013, before settling at 24,981, up 104 points.
Tata Motors was the top Sensex performer, gaining 3.5%, while Adani Ports and Reliance Industries rose 3% each. Reliance alone contributed 229 points to the Sensex’s rally.
Broader markets outshone benchmarks, with the BSE Midcap and Smallcap indices advancing 1% each.
On the sectoral front, BSE Auto, Energy, Oil & Gas, and Telecom indices gained over 1%, while the BSE IPO index surged more than 2%, with several stocks hitting record highs.
Vinod Nair, Head of Research at Geojit Financial Services, said: “The market continued its renewed momentum, buoyed by expectations of GST rationalisation and a recent credit rating upgrade for India. Optimism was further supported by signs of easing geopolitical tensions between Russia and Ukraine, shifting the outlook from consolidation to a constructive stance. However, the uptrend may face resistance until greater clarity emerges on US-India trade negotiations. Notably, small- and mid-cap stocks outperformed, with autos leading the rally, aided by hopes that China may address rare earth magnet supply concerns.”
Global Cues
Asian markets were trading lower on Tuesday, following overnight weakness on Wall Street. Japan’s Nikkei 225 was down 0.14%, while South Korea’s KOSPI slipped 0.54%.
After his White House meeting, Zelensky signaled readiness to meet Russian President Vladimir Putin directly in a bid to end the conflict.
In the US, equity markets ended largely flat as investors awaited major retail earnings and Federal Reserve Chair Jerome Powell’s speech at the annual Jackson Hole summit. The S&P 500 closed marginally lower, while the Dow Jones Industrial Average dipped 0.07%.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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