Sensex ends 544 points higher, Nifty nears 24,000; HUL up 2%
The S&P BSE Sensex climbed 544.15 points, or 0.71%, to settle at 76,808.48, while the NSE Nifty50 gained 135.25 points, or 0.57%, to close at 23,989.15, just shy of the crucial 24,000 mark.
Stock markets extended their winning streak for the third straight session on Tuesday, as easing tensions between the United States and Iran and a sharp decline in crude oil prices lifted investor sentiment. The continued fall in oil prices, along with signs of returning foreign investor interest, helped Sensex and Nifty close higher.
The S&P BSE Sensex climbed 544.15 points, or 0.71%, to settle at 76,808.48, while the NSE Nifty50 gained 135.25 points, or 0.57%, to close at 23,989.15, just shy of the crucial 24,000 mark.
Over the last three trading sessions, the Sensex has surged 4%, while the Nifty has gained 3.6%.
The latest rally on Dalal Street came after a preliminary peace agreement between the US and Iran reduced concerns over a prolonged conflict in West Asia and potential disruptions to global oil supplies.
Brent crude prices fell below the $82 mark, declining 2.57% to $81.03 per barrel, while WTI crude slipped 2.71% to $78.56 per barrel.
Lower crude prices are considered a major positive for India, which imports nearly 85% of its oil needs, as they ease inflationary pressure, support the rupee and improve the country's current account outlook.
Global sentiment was also supportive, with Asian markets gaining around 0.8% during the day.
The rally was broad-based, with 11 out of 16 major sectoral indices ending in the green.
Nifty Realty emerged as the top sectoral performer, jumping 2.26%, followed by Nifty IT, which gained 1.78%, Nifty Media, up 1.40%, Nifty Consumer Durables, which rose 1.28%, and Nifty FMCG, which advanced 1.22%.
Oil & gas stocks also participated in the rally, with the Nifty Oil & Gas index gaining 1.02%. On the other hand, metal stocks were the biggest laggards, with the Nifty Metal index declining 1.55% due to a pullback in global metal prices.
Among Sensex stocks, HCLTech was the top gainer, rising 3.59%, followed by Bajaj Finserv, which climbed 2.13%, NTPC, up 2.10%, Hindustan Unilever, which gained 2.10%, TCS, up 1.72%, and Bajaj Finance, which rose 1.70%.
Other major gainers included Reliance Industries, up 1.59%, Tech Mahindra, which advanced 1.45%, ITC, which climbed 1.32%, and Titan, up 1.20%.
Among the laggards, IndiGo fell 0.86%, UltraTech Cement declined 0.82%, Maruti slipped 0.81%, Tata Steel lost 0.71%, BEL fell 0.51%, and SBI declined 0.49%.
The positive sentiment was visible across the broader market as well.
The Nifty Midcap 50 index rose 0.60%, while Nifty Midcap 100 gained 0.41%. The Nifty Smallcap 100 climbed 0.42%, indicating continued participation from mid- and small-cap stocks.
Meanwhile, India VIX, the market’s fear gauge, dropped 6.89% to 13.36, signalling easing volatility and improving investor confidence.
In another positive development, foreign portfolio investors (FPIs) turned net buyers on Monday after 13 consecutive sessions of selling, with net inflows of $21.2 million. This has raised hopes that sustained selling pressure from overseas investors may begin to ease.
Vinod Nair, Head of Research at Geojit Investments Limited, said domestic markets continued their recovery momentum due to easing geopolitical tensions and softer crude prices.
“The rally was broad-based, with notable gains in IT, realty, FMCG, and oil & gas sectors. Metal stocks, however, lagged behind, weighed down by a sharp pullback in global metal prices as supply-side concerns began to subside,” he said.
He added that investors will now closely monitor the upcoming US Federal Reserve policy meeting, where interest rates are expected to remain unchanged. However, the central bank’s commentary on future rate decisions will be a key trigger for global markets.
While the sharp recovery suggests that the panic caused by the West Asia conflict has eased, investors will continue to track developments around the US-Iran peace process, movement in crude oil prices, FPI flows and the US Fed’s policy guidance.
The sustainability of lower oil prices and a return of foreign inflows will play a crucial role in deciding whether the current market rally has more room to run.
(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)
Stock markets extended their winning streak for the third straight session on Tuesday, as easing tensions between the United States and Iran and a sharp decline in crude oil prices lifted investor sentiment. The continued fall in oil prices, along with signs of returning foreign investor interest, helped Sensex and Nifty close higher.
The S&P BSE Sensex climbed 544.15 points, or 0.71%, to settle at 76,808.48, while the NSE Nifty50 gained 135.25 points, or 0.57%, to close at 23,989.15, just shy of the crucial 24,000 mark.
Over the last three trading sessions, the Sensex has surged 4%, while the Nifty has gained 3.6%.
The latest rally on Dalal Street came after a preliminary peace agreement between the US and Iran reduced concerns over a prolonged conflict in West Asia and potential disruptions to global oil supplies.
Brent crude prices fell below the $82 mark, declining 2.57% to $81.03 per barrel, while WTI crude slipped 2.71% to $78.56 per barrel.
Lower crude prices are considered a major positive for India, which imports nearly 85% of its oil needs, as they ease inflationary pressure, support the rupee and improve the country's current account outlook.
Global sentiment was also supportive, with Asian markets gaining around 0.8% during the day.
The rally was broad-based, with 11 out of 16 major sectoral indices ending in the green.
Nifty Realty emerged as the top sectoral performer, jumping 2.26%, followed by Nifty IT, which gained 1.78%, Nifty Media, up 1.40%, Nifty Consumer Durables, which rose 1.28%, and Nifty FMCG, which advanced 1.22%.
Oil & gas stocks also participated in the rally, with the Nifty Oil & Gas index gaining 1.02%. On the other hand, metal stocks were the biggest laggards, with the Nifty Metal index declining 1.55% due to a pullback in global metal prices.
Among Sensex stocks, HCLTech was the top gainer, rising 3.59%, followed by Bajaj Finserv, which climbed 2.13%, NTPC, up 2.10%, Hindustan Unilever, which gained 2.10%, TCS, up 1.72%, and Bajaj Finance, which rose 1.70%.
Other major gainers included Reliance Industries, up 1.59%, Tech Mahindra, which advanced 1.45%, ITC, which climbed 1.32%, and Titan, up 1.20%.
Among the laggards, IndiGo fell 0.86%, UltraTech Cement declined 0.82%, Maruti slipped 0.81%, Tata Steel lost 0.71%, BEL fell 0.51%, and SBI declined 0.49%.
The positive sentiment was visible across the broader market as well.
The Nifty Midcap 50 index rose 0.60%, while Nifty Midcap 100 gained 0.41%. The Nifty Smallcap 100 climbed 0.42%, indicating continued participation from mid- and small-cap stocks.
Meanwhile, India VIX, the market’s fear gauge, dropped 6.89% to 13.36, signalling easing volatility and improving investor confidence.
In another positive development, foreign portfolio investors (FPIs) turned net buyers on Monday after 13 consecutive sessions of selling, with net inflows of $21.2 million. This has raised hopes that sustained selling pressure from overseas investors may begin to ease.
Vinod Nair, Head of Research at Geojit Investments Limited, said domestic markets continued their recovery momentum due to easing geopolitical tensions and softer crude prices.
“The rally was broad-based, with notable gains in IT, realty, FMCG, and oil & gas sectors. Metal stocks, however, lagged behind, weighed down by a sharp pullback in global metal prices as supply-side concerns began to subside,” he said.
He added that investors will now closely monitor the upcoming US Federal Reserve policy meeting, where interest rates are expected to remain unchanged. However, the central bank’s commentary on future rate decisions will be a key trigger for global markets.
While the sharp recovery suggests that the panic caused by the West Asia conflict has eased, investors will continue to track developments around the US-Iran peace process, movement in crude oil prices, FPI flows and the US Fed’s policy guidance.
The sustainability of lower oil prices and a return of foreign inflows will play a crucial role in deciding whether the current market rally has more room to run.
(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)
