Markets extend rally; Sensex soars over 700 points on strong global cues
Equity benchmarks extended their upward momentum on Tuesday, with the Sensex climbing over 700 points in midday trading as positive global sentiment and robust domestic indicators fueled investor confidence.
The BSE Sensex surged 703.21 points or 0.95 per cent to 74,873.16 by 12:35 PM, building on momentum from a strong opening at 74,608.66. Similarly, the Nifty 50 index gained 217.95 points or 0.97 per cent to reach 22,726.70, approaching the crucial 22,700 resistance level identified by technical analysts.
Broader markets outperformed the benchmarks with the Nifty Next 50 jumping 1.64 per cent to 60,381.20 and the Nifty Midcap Select rising 1.50 per cent to 11,056.65. The banking and financial sectors showed considerable strength, with Nifty Bank advancing 1.34 per cent to 49,002.80 and Nifty Financial Services gaining 1.21 per cent to 23,812.90.
Market breadth remained decisively positive with 2,720 stocks advancing against 1,123 declines on the BSE, while 155 remained unchanged. The session saw 54 stocks hitting 52-week highs, though 241 touched their 52-week lows. Circuit filters were triggered for 188 stocks on the upper side and 255 on the lower side.
Hindalco led the gainers on the NSE, rising 2.42 per cent to ₹697.20 with a volume of 30.58 lakh shares. Other top performers included Tata Motors (+2.38 per cent), Asian Paint (+2.26 per cent), M&M (+2.20 per cent), and Shriram Finance (+2.15 per cent).
Among laggards, Bajaj Finserv declined the most, falling 1.82 per cent to ₹1,837.60. Other major losers included Bharti Airtel (-0.62 per cent), Tech Mahindra (-0.50 per cent), Reliance Industries (-0.20 per cent), and IndusInd Bank (-0.13 per cent).
“Sensex rebounded strongly, driven by positive global cues, heavy buying in banking and financial stocks, and robust domestic macroeconomic indicators,” said Ram Medury, Founder and CEO of Maxiom Wealth, commenting on the day’s performance. “India’s steady GDP growth of 6.2 per cent and controlled inflation at 3.61 per cent reinforced investor confidence, ensuring economic stability.”
Tuesday’s rally continues the positive momentum from Monday when the Sensex had gained 556.87 points and Nifty rose 173.15 points, as global markets rallied on easing inflation concerns and receding tariff fears.
Investors now await the US Federal Reserve’s upcoming policy decision and developments in US-Russia talks on Ukraine, which could significantly influence market direction in the coming sessions.
