India’s benchmark indices rallied on Tuesday, with the BSE Sensex jumping 1,131 points to breach the 75,000 mark and the NSE Nifty climbing 1.45%, driven by widespread buying amid a bullish global trend.
Extending its previous session’s gains, the 30-share Sensex ended 1,131.31 points, or 1.53%, higher at 75,301.26, after touching an intraday high of 75,385.76. The Nifty 50 index surged 325.55 points, or 1.45%, to close at 22,834.30.
Among Sensex constituents, Zomato led the rally, rising over 7%. ICICI Bank, Mahindra & Mahindra, Tata Motors, Larsen & Toubro, Asian Paints, Titan, Kotak Mahindra Bank, and State Bank of India were among the top gainers. Bajaj Finserv, Bharti Airtel, Tech Mahindra, and Reliance Industries declined
Broader market indices outperformed, with the BSE Midcap and Smallcap indices closing over 2% higher.
Technical analysts noted that the Nifty broke out of a seven-session consolidation phase, moving above the key 21-day exponential moving average, signaling a bullish trend. According to Rupak De, senior technical analyst at LKP Securities, Nifty may move towards 23,150 in the short term, with support placed at 22,700.
Investor confidence was buoyed by improving retail sales data from the US and China. Vinod Nair, head of research at Geojit Financial Services, highlighted that declining crude prices and a weaker dollar index also supported the rally, though concerns over foreign institutional investor (FII) outflows and global tariff uncertainties remain.
Stock Highlights
- Five-Star Business Finance: Shares rose 2.83% to Rs 686 after the company’s board approved issuing Rs 4,000 crore worth of non-convertible debentures (NCDs) through private placement.
- Mastek: The stock surged 18.8% to Rs 2,511.9, snapping a five-day losing streak. The software firm’s stock had fallen over 12% in the last five sessions before rebounding.
Rupee Volatility
At the interbank foreign exchange, the rupee experienced high volatility, opening at 86.71 against the US dollar, reaching an intraday high of 86.54, and touching a low of 86.78. Outlook Analysts expect market momentum to continue, supported by a rebound in domestic earnings and improving global cues. However, FII outflows and macroeconomic uncertainties could keep investors cautious in the near term.
