Indian stock markets rallied on Tuesday afternoon, with the benchmark Sensex surging over 500 points, driven by gains in IT stocks and positive global cues. The Sensex was trading at 82,095.97, up 536.43 points or 0.66 per cent from its previous close, while the Nifty50 index climbed 162.25 points or 0.65 per cent to 25,098.65.
IT stocks emerged as the top performers, with Coforge leading the Nifty IT pack, surging 5.07 per cent. Other major gainers in the sector included LTIMindtree (3.66 per cent), Mphasis (3.09 per cent), LTTS (2.28 per cent), and Persistent Systems (1.98 per cent).
Among the top gainers on the NSE as of noon, Divi’s Lab rose 3.42 per cent, followed by LTIMindtree at 2.90 per cent. Infosys, Bharti Airtel, and Power Grid also saw significant gains of 1.67 per cent, 1.54 per cent, and 1.51 per cent respectively.
However, some stocks faced selling pressure. HDFC Life was the top loser, declining 3.75 per cent, followed by Bajaj Finserv (-2.15 per cent), Shriram Finance (-2 per cent), SBI Life (-1.97 per cent), and Bajaj Finance (-1.63 per cent). .
Market breadth remained positive, with 2,618 stocks advancing against 1,225 declines on the BSE. One hundred twenty-two stocks remained unchanged. Notably, 247 stocks hit their 52-week highs, while only 27 touched their 52-week lows.
Shrey Jain, Founder and CEO of SAS Online, commented on the market situation: “Today, key equity benchmark indices, Sensex and Nifty, are trading higher, buoyed by a rally in global markets and fresh foreign fund inflows…”
He added, “Looking ahead, we anticipate that Nifty will maintain support around the 24,800 level, with resistance likely emerging at 25,100. Bank Nifty has shown notable outperformance compared to Nifty, with private sector banks among the top gainers…”
Jain further stated, “Overall market sentiment is neutral to positive, suggesting trading opportunities on both sides. Given the current conditions, it may also be wise to consider booking profits at higher levels.”
The market showed signs of strength, with 308 stocks hitting their upper circuit limits and 221 stocks touching their lower circuits. As the trading session progresses, investors will be closely watching global cues and sector-specific movements for further direction.