Sensex ends 208 points higher, Nifty above 25,900; Eternal gains 5%
The S&P BSE Sensex was up 208.17 points to close at 84,273.92, while the NSE Nifty50 gained 67.85 points to end at 25,935.15.
Benchmark stock market indices closed higher on Tuesday, posting gains for the second straight time as auto stocks gained along with media sector shares as market sentiment improved over FIIs resuming buying.
The S&P BSE Sensex was up 208.17 points to close at 84,273.92, while the NSE Nifty50 gained 67.85 points to end at 25,935.15.
Vinod Nair, Head of Research, Geojit Investments Limited, said that equities continued their upward momentum, supported by the US trade agreement and positive cues from key Asian markets.
"A strong resurgence in FII inflows, coupled with rupee appreciation, is further bolstering the investor sentiment, although intermittent profit-booking was visible across sectors. With tariff-related concerns largely easing, the near-term market trajectory will hinge on Q3 earnings, which have been mixed and below expectations so far," he added.
Eternal Ltd topped the Sensex gainers, rising 5.19%. It was followed by Tata Steel Ltd, which gained 2.89%. Mahindra and Mahindra Ltd moved up 1.79%, while Power Grid Corporation of India Ltd rose 1.69%. Tech Mahindra Ltd also ended higher, adding 1.66%.
On the losing side, HCL Technologies Ltd saw the biggest fall, slipping 1.86%. Bajaj Finance Ltd declined 1.80%, Bharti Airtel Ltd was down 1.36%, Asian Paints Ltd fell 0.77%, and HDFC Bank Ltd ended lower by 0.55%.
Gaurav Garg, Research Analyst at Lemonn Markets Desk, said that the rally was driven by a mix of positive developments, increased domestic mutual fund ownership, and block deal activity.
"On the currency front, the rupee strengthened by 18 paise to close at 90.58 against the US dollar. Overall, the market tone remained constructive, with selective buying in index heavyweights and continued risk-on sentiment," he added.
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