Mumbai: Indian stock markets continued their upward trend on Tuesday. The Sensex and Nifty both closed higher for the third day in a row. Positive global signals and optimism around the India-US trade agreement supported market sentiment.
The BSE Sensex rose 208 points, or 0.25 percent, to close at 84,273. During the day, it touched an intraday high of 84,482.
The NSE Nifty gained nearly 68 points, or 0.26 percent, to close at 25,935. It touched an intraday high of 25,989 during trading hours.
Which stocks gained and which fell?
Many large companies supported the rally. Major gainers included Tata Steel, Mahindra & Mahindra, PowerGrid, Tech Mahindra, Larsen & Toubro, TCS, Maruti Suzuki, Axis Bank, Titan and Hindustan Unilever.
However, some stocks saw profit booking. HCL Tech, Bajaj Finance, Bharti Airtel, Asian Paints, HDFC Bank, UltraTech Cement, Adani Ports and ITC ended lower.
Why markets are rising?
Trade deal optimism: Investors are positive about the India-US trade agreement, which is expected to support exports and economic growth.
Foreign investor buying: Foreign Institutional Investors (FIIs) bought shares worth about ₹2,254 crore recently, supporting market momentum.
Global market support: Asian markets like Japan, Hong Kong, South Korea and China closed higher. European markets were also trading in positive territory.
Other global and domestic factors: The rupee strengthening against the US dollar is helping investor confidence. Meanwhile, crude oil prices remained stable, which is positive for India’s import bill.
Experts say tariff-related worries have reduced recently. However, market direction will now depend on corporate earnings and economic policy measures.
What investors are watching next?
Investors are closely watching Q3 corporate earnings and government policy support measures. Market experts believe earnings recovery will be important for sustaining the rally.
