Sensex and Nifty surged on strong banking, financial, and auto stocks.
Sensex and Nifty surged on strong banking, financial, and auto stocks. Global equities trend was positive, with mixed Asian markets and European gains.
On Tuesday, benchmark indices Sensex and Nifty surged, driven by strong buying in banking, financial, and auto stocks, amid a generally positive global equity trend.
The 30-share BSE Sensex rose by 378.18 points, or 0.47%, closing at 80,802.86. During the day, it reached a peak of 518.28 points, or 0.64%, at 80,942.96.
The NSE Nifty, marking its fourth consecutive day of gains, increased by 126.20 points, or 0.51%, to 24,698.85.
Among the 30 Sensex companies, major gainers included Bajaj Finserv, IndusInd Bank, Tech Mahindra, Bajaj Finance, Kotak Mahindra Bank, Axis Bank, NTPC, and Sun Pharma. In contrast, Bharti Airtel, ITC, Adani Ports, JSW Steel, and Tata Motors lagged.
Asian markets showed mixed results, with Seoul and Tokyo closing higher, while Shanghai and Hong Kong ended lower.
European markets were trading up, and US markets ended positively on Monday. Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, noted that the strength and rally on Dalal Street are supported by steady SIP flows from retail investors. He added that global factors, particularly the July FOMC (Federal Open Market Committee) meeting minutes due Wednesday, will be closely monitored.
Foreign Institutional Investors (FIIs) sold equities worth Rs 2,667.46 crore on Monday, while Domestic Institutional Investors (DIIs) purchased equities worth Rs 1,802.92 crore. Global oil benchmark Brent crude fell by 0.72% to USD 77.10 per barrel. On Monday, the BSE benchmark dropped slightly by 12.16 points, or 0.02%, to 80,424.68, while the NSE Nifty rose by 31.50 points, or 0.13%, to 24,572.65 in volatile trading.
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