Indian benchmark indices closed higher for the second consecutive session on Tuesday, buoyed by gains in auto and media stocks and renewed buying by foreign institutional investors (FIIs). The S&P BSE Sensex climbed 208.17 points to finish at 84,273.92, while the NSE Nifty50 gained 67.85 points, closing at 25,935.15.
Equity markets were supported by positive developments, including the US trade agreement and encouraging cues from key Asian markets. Vinod Nair, Head of Research at Geojit Investments, noted that FII inflows, coupled with rupee appreciation, bolstered investor sentiment. However, intermittent profit-booking across sectors highlighted caution ahead of Q3 earnings, which have so far been mixed and below expectations.
Top gainers on the Sensex included Eternal Ltd (+5.19%), Tata Steel (+2.89%), Mahindra & Mahindra (+1.79%), Power Grid Corp (+1.69%), and Tech Mahindra (+1.66%). Meanwhile, HCL Technologies (-1.86%), Bajaj Finance (-1.80%), Bharti Airtel (-1.36%), Asian Paints (-0.77%), and HDFC Bank (-0.55%) led the losers.
Gaurav Garg of Lemonn Markets highlighted that domestic mutual fund buying, block deals, and a stronger rupee, which closed 18 paise higher at 90.58 against the US dollar, contributed to the positive market tone. Overall, selective buying in heavyweight stocks and sustained risk-on sentiment kept the market trajectory constructive.
Investors will continue to monitor earnings results and global developments to gauge near-term market momentum.
