The Indian benchmark indices ended in the green for the fifth consecutive closing session with the BSE Sensex closing at81,926.75 higher by 136.63 points and the NSE Nifty50 ending at 25,108.30 higher by 30.65 points on Tuesday.
During the opening session, the Indian markets continued to rally ahead on Tuesday. The BSE Sensex started trading above 81,900, jumping more than 100 points, while the NSE Nifty50 crossed 25,100 after climbing close to 50 points.
Among the top gainers in the markets today were Bharti Airtel, HCLTech, UltraTech Cement, PowerGrid and HDFC Bank and among the market laggards were stocks like TechMahindra, L&T, ITC, Adani Ports and Bajaj Finserv.
In the broader market indices, the Nifty Midcap 100 index was higher by 0.47 per cent and sectorally, the Nifty FMCG index dragged by 0.53 per cent while the Nifty Midsmall IT & Telecom index ended higher by 1.44 per cent.
What’s Fuelling The Rally?
According to Prashanth Tapse, Senior Vice President (Research) at Mehta Equities Ltd, “Liquidity tailwinds, global market resilience, and a dovish stance from central banks are fuelling the rally.” He added that the upbeat global cues have helped sustain optimism across equity markets.
Additionally, on the domestic front, data from exchanges showed that Foreign Institutional Investors (FIIs) offloaded equities worth Rs 313.77 crore on Monday, while Domestic Institutional Investors (DIIs) emerged strong buyers, picking up shares worth Rs 5,036.39 crore.
