Markets Rally in Early Trade: Sensex Gains 300 Points, Nifty Rises on Blue-Chip Buying and Global Cues
With market resilience evident, the focus remains on sustaining gains and identifying opportunities in blue-chip and mid-cap stocks.
Mumbai: Indian equity markets began Tuesday’s trading session on a positive note, with benchmark indices Sensex and Nifty showing strong gains.
Supported by buying in blue-chip stocks like HDFC Bank, State Bank of India (SBI), and Adani Ports, along with firm global market trends, investor sentiment remained optimistic.
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Market Highlights: Sensex and Nifty Performance
- BSE Sensex: The benchmark Sensex climbed 300.98 points or 0.37% to 80,549.06 during early trade.
- NSE Nifty: The broader Nifty advanced by 101.85 points or 0.42%, reaching 24,377.90.
Top Gainers and Losers
Biggest Gainers
From the 30-share Sensex pack, the following stocks led the rally:
- Adani Ports
- State Bank of India (SBI)
- HDFC Bank
- JSW Steel
- IndusInd Bank
- Bajaj Finance
Top Laggards
Not all stocks participated in the rally. Some of the key underperformers included:
- ITC
- Bharti Airtel
- Sun Pharma
- Power Grid
Global Markets Boost Sentiment
Asian Markets
Key Asian indices were trading higher, reflecting strong momentum:
- Seoul
- Tokyo
- Shanghai
- Hong Kong
US Markets
Wall Street closed mostly in positive territory on Monday, providing a positive cue for global equity markets.
Institutional Activity: FIIs vs. DIIs
- Foreign Institutional Investors (FIIs): FIIs were net sellers, offloading equities worth Rs 238.28 crore on Monday.
- Domestic Institutional Investors (DIIs): DIIs were net buyers, acquiring shares worth Rs 3,588.66 crore, as per exchange data.
Expert Insights
“The market’s resilience is underscored by its ability to recover quickly. Strong performance from heavyweight stocks like Reliance and HDFC Bank is bolstering the overall market sentiment. Global cues are also playing a supportive role in this rally,” said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
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Crude Oil Update
Global oil benchmark Brent crude rose by 0.13% to USD 71.92 per barrel, reflecting stable energy market conditions.
Mondayโs Market Recap
On Monday, Indian markets recovered from early losses to close on a strong note:
- Sensex: Gained 445.29 points or 0.56% to settle at 80,248.08.
- Nifty: Surged 144.95 points or 0.60% to close at 24,276.05.
Key Takeaways
- Blue-Chip Momentum: Heavyweights like SBI and HDFC Bank continue to drive market gains, ensuring stability.
- Institutional Support: DIIs remain committed buyers, offsetting FII outflows.
- Global Influence: Positive trends in Asian and US markets are boosting investor confidence in Indian equities.
- Crude Prices Stable: Slight uptick in Brent crude oil prices reflects steady energy dynamics, easing inflation concerns.
Whatโs Next for the Markets?
As Indian equities maintain their upward momentum, investors are keeping an eye on global developments, sectoral performance, and domestic macroeconomic indicators. With market resilience evident, the focus remains on sustaining gains and identifying opportunities in blue-chip and mid-cap stocks.
Stay updated with the latest stock market trends and insights as Sensex and Nifty continue to chart their trajectory in response to global and domestic factors.
