The Indian benchmark indices closed higher on Tuesday, as the Sensex ended trade over 360 points higher at 83,899.78, and the Nifty closed at nearly 25,700 or 131 points higher.
In the 30-share BSE Sensex, the top gainers included stocks such as Bharat Electronics, Adani Ports, Mahindra & Mahindra, HCLTech and Eternal. Meanwhile, the laggards included PowerGrid, Kotak Bank, Tata Steel, Tata Motors Public Vehicles and Bajaj Finserv.
During early morning trade, the Sensex started trade over 125 points higher at 83,660.52, while the Nifty opened over 25,614, or more than 39 points higher.
Foreign Outflows
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,114.85 crore on Monday, while Domestic Institutional Investors (DIIs) remained net buyers, purchasing stocks valued at Rs 5,805.26 crore, according to exchange data.
US Markets Post Strong Gains
The S&P 500 rose 1.54 per cent and the Nasdaq 100 surged 2.20 per cent, marking their biggest single-day gains since May, said Devarsh Vakil, Head of Prime Research at HDFC Securities. Vakil also attributed the rally to progress in the US Senate towards passing legislation to end the record-long government shutdown.
Trump Hints at Tariff Reduction on India
Meanwhile, US President Donald Trump announced on Monday that the United States will soon reduce tariffs imposed on India, as both nations move closer to finalising a trade deal.
