Mumbai: Indian stock markets continued their upward journey for the fourth straight session on Tuesday, supported by easing crude oil prices and positive global cues. The BSE Sensex surged 509.73 points (0.69%) to close at 74,616.58, while the Nifty 50 gained 155.40 points (0.68%) to end at 23,123.65.
During the day, markets remained volatile. The Sensex moved in a wide range of over 1,400 points, hitting a high of 74,686.32 and a low of 73,282.41 before settling higher.
IT Stocks Lead the Recovery
The key support for markets came from strong buying in IT stocks, which helped indices recover from early losses. Major gainers included Tata Consultancy Services, HCL Tech, Infosys, Bharti Airtel, Sun Pharma, and Hindustan Unilever.
Experts believe IT stocks acted as a “defensive shield” for investors during uncertain times, especially when global concerns remain.
Some Stocks Lag Behind
Not all stocks participated in the rally. InterGlobe Aviation, Adani Ports, Mahindra & Mahindra, and Titan were among the major losers of the day, limiting the overall gains in the market.
Global Support and Oil Price Relief
A key positive trigger was the fall in crude oil prices. Brent crude dropped 0.71% to around USD 109 per barrel, giving relief to markets like India that depend heavily on oil imports.
Global markets also supported sentiment. Asian indices such as Japan’s Nikkei 225, South Korea’s Kospi, and China’s Shanghai Composite ended higher. European markets were also trading in the green, while US markets had closed positively on Monday.
FII Selling Continues
Foreign Institutional Investors (FIIs) continued to sell Indian equities, offloading stocks worth Rs 8,167 crore on Monday. However, Domestic Institutional Investors (DIIs) almost matched this by buying shares worth Rs 8,088 crore, helping stabilize the market.
What Analysts Say?
Market experts say the rally was driven more by short-covering and selective buying rather than strong overall confidence. Still, the steady rise over four days shows improving investor sentiment.
