The benchmark equity indices snapped the three-day losing streak and ended with gains on Tuesday. This comes after the Asian markets rebounded after a historic loss, led by gains in Japan.
The NSE Nifty 50 ended 374.25 points or 1.69% higher at 22,535.85, while the BSE Sensex closed 1,089.18 points or 1.49% higher at 74,227. Intraday, Nifty 50 rose as much as 2.42% to 22,697.20. This is the highest percentage gain since Nov. 22, 2024. Sensex was up 1,721.49 points to 74,859.39, highest percentage gains since June 3, 2024.
"The combination of oversold condition and a strong recovery in global equities helped the Index begin the session on a positive note. Despite a short dip during the opening trade, Nifty50 managed to extend its gains," said Aditya Gaggar Director of Progressive Shares.
Infosys Ltd., Reliance Industries Ltd., Larsen & Toubro Ltd., Bharti Airtel Ltd. and ICICI Bank Ltd. added to the index the most. On the other hand, Power Grid Ltd. weighed on the Nifty 50.
On the NSE, all of the 14 sectors rose with Nifty Media and Nifty PSU Bank leading the gains. Nifty Media and Nifty PSU Bank, Nifty Bank and Nifty Pharma snapped their two-day losing streak. Nifty Oil and Gas, Nifty Auto, Nifty Metal and Nifty Realty snapped their three-day losing streak.
On the BSE, all of the 21 sectors rose with BSE Consumer Durables and BSE Telecommunications leading the gains.
The broader markets also ended higher, with the BSE MidCap ending with gains of 1.87% and the SmallCap index rising 2.18%.
The market breadth was skewed in the favour of buyers, as 872 stocks declined, 3,092 advanced and 119 remained unchanged on the BSE.
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