Image Source : FILE Bombay Stock Exchange Limited (Now BSE Ltd.).
The benchmark indices, Sensex and Nifty, extended their gains for a second consecutive session on Tuesday, driven by a rally in US markets and fresh foreign fund inflows. The BSE Sensex rose 361.75 points, or 0.44%, closing at 81,921.29, buoyed by strong performances in IT, telecom, and banking stocks. During the session, the index reached an intraday high of 82,196.55, up 637.01 points.
The NSE Nifty gained 104.70 points, or 0.42%, to end at 25,041.10.
Top gainers and losers
Among the top gainers in the 30-stock Sensex were NTPC, HCL Technologies, Bharti Airtel, Tech Mahindra, and Axis Bank. In contrast, Bajaj Finserv, Bajaj Finance, Hindustan Unilever, Mahindra & Mahindra, and Tata Motors were among the notable losers.
Global market influence
Asian markets showed mixed results, with Shanghai and Hong Kong closing higher, while Seoul and Tokyo finished lower. European markets were trading mixed as well, and US markets had a strong finish on Monday.
Foreign Institutional Investors (FIIs) purchased equities worth Rs 1,176.55 crore on Monday, while Domestic Institutional Investors (DIIs) bought shares worth Rs 1,757.02 crore. Meanwhile, global oil benchmark Brent crude fell 1.39% to $70.84 per barrel.
Analyst commentary
“With an overnight rebound on Wall Street, strong net buying from both FIIs and DIIs, and lower oil prices, bullish traders are likely to continue seeking bargains,” said Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd.
On Monday, the Sensex had already gained 375.61 points, or 0.46%, to close at 81,559.54, while Nifty had risen by 84.25 points, or 0.34%, to 24,936.40 after three straight days of decline.
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