Equity markets saw a continued uptrend in afternoon trade on Tuesday, with the BSE Sensex recording a gain of 844.71 points or 1.12 per cent to reach 76,210.88. This positive momentum was driven by the liquidity enhancement measures announced by the Reserve Bank of India earlier in the day.
The NSE Nifty also rose by 212.70 points or 0.93 per cent to 23,041.85, while the Bank Nifty surged by 1,090.40 points or 2.27 per cent to 49,155.05. The financial services sector led the rally, with the Nifty Financial Services index climbing 552.60 points or 2.47 per cent to 22,935.70.
Among the top gainers on the NSE were Shriram Finance, up by 5.04 per cent, followed by Axis Bank at 4.58 per cent and Bajaj Finance at 4.15 per cent. HDFC Bank and Tata Motors also showed strong performance, with gains of 3.18 per cent and 3.10 per cent respectively. On the other hand, Sun Pharma witnessed substantial selling pressure, dropping by 4.80 per cent, while Britannia declined by 2.06 per cent and NTPC fell by 1.91 per cent.
Market breadth remained negative, with 2,662 stocks declining compared to 1,192 advances on the BSE. The session saw 548 stocks hitting their 52-week lows, while only 46 stocks reached their 52-week highs. Additionally, 506 stocks hit their lower circuit limits as opposed to 94 stocks touching upper circuits.
The Nifty Midcap Select index showed a marginal decline of 11.30 points or 0.10 per cent to 11,710.90, indicating selective buying interest in the broader markets.
Despite continued selling by Foreign Institutional Investors (FIIs) amounting to ₹5,015 crore, Domestic Institutional Investors (DIIs) remained supportive with purchases worth ₹6,642 crore. Trading activity was mainly focused on financial stocks following the RBI’s announcement of ₹60,000 crore in government security purchases and a $5-billion USD/rupee swap auction. Market participants are closely watching global cues, upcoming Federal Reserve meeting outcomes, and quarterly results from major companies for further direction.
The upbeat movement in the market reflects the positive sentiment among investors, with financial services leading the way in today’s trading session.