Indian equity markets continued their winning streak on Tuesday, with benchmark indices Sensex and Nifty registering strong gains for the fourth consecutive trading session. Positive corporate earnings, improving investor sentiment and a shift in global investment trends boosted buying activity across domestic markets.
The BSE Sensex surged 1,225.07 points, or 1.62 per cent, to close at 76,917.85. Meanwhile, the NSE Nifty 50 climbed 370.05 points, or 1.58 per cent, to settle at 23,810.85.
FMCG Stocks Lead Market Rally
Among the Nifty constituents, BSE, Nestle India and Tata Consumer Products emerged as the top gainers. FMCG stocks led the sectoral rally, with the Nifty FMCG index rising nearly 3 per cent as investors showed renewed interest in consumer goods companies amid optimism over earnings growth and demand prospects.
Broader markets also ended in positive territory. The Nifty Midcap 100 advanced 1.06 per cent, while the Nifty Smallcap 100 gained 0.31 per cent.
However, PSU banking stocks remained under pressure. The Nifty PSU Bank index emerged as the worst-performing sector during the session, closing lower despite the broader market rally.
Nifty Faces Resistance at 23,900
Market analysts said the ongoing recovery in benchmark indices remains encouraging. However, the Nifty could face immediate resistance in the 23,800–23,900 range.
On the downside, the 23,200–23,500 zone is expected to provide immediate support if the market witnesses a correction.
Experts advised investors to focus on stocks showing relative strength while maintaining prudent overnight risk management amid uncertainties surrounding global economic developments.
Rupee Gains Against the Dollar
Meanwhile, the Indian rupee strengthened by around 0.15 per cent to trade at 94.74 against the US dollar. Cooling commodity prices eased concerns over India’s import bill, providing some support to the domestic currency.
Analysts said the rupee’s future movement would depend on global dollar trends, commodity prices and foreign fund flows. Expectations of improved capital inflows could also support the domestic currency.
Overall, strong corporate earnings, stable domestic economic conditions and changing global investment preferences continued to support Indian equity markets, helping benchmark indices extend their winning streak for the fourth consecutive session.
