Stock market soars amid India-US trade talks and Fed rate cut hopes; Sensex up 595 points. |
Mumbai: The Indian stock market saw a strong rally on Tuesday, lifted by renewed optimism over India-US trade negotiations and increasing expectations of a US Federal Reserve interest rate cut. Investors welcomed the positive sentiment, leading to widespread buying across major sectors, with the Sensex jumping 594.95 points to close at 82,380.69, and the Nifty gaining 169.90 points to end at 25,239.10.
The session began on a cautious note, but quickly picked up momentum as investor sentiment improved on the back of strong global cues and value buying, particularly in auto, IT, and banking stocks.
Key Gainers: Auto, IT, Banking Stocks Lead the Charge
Among the top performers from the Sensex basket were Kotak Bank, Mahindra & Mahindra, L&T, Maruti Suzuki, Tata Steel, Axis Bank, TCS, SBI, and PowerGrid. Auto and consumer durable stocks outperformed, driven by optimism around upcoming GST rate revisions and expected festive season demand.
However, Bajaj FinServ and Asian Paints emerged as the biggest losers during the session, underperforming amid an otherwise bullish market.
Sectoral Indices Reflect Market Strength
Most sectoral indices ended in the green. Nifty Auto climbed 385 points (1.44 percent), Nifty IT rose 310 points (0.86 percent), Nifty Fin Services added 102 points (0.39 percent), and Nifty Bank increased 259 points (0.47 percent). The only laggard was Nifty FMCG, which ended in the red due to profit booking.
Midcaps, Smallcaps Follow Uptrend; Rupee Gains
The broader markets mirrored the positive trend. Nifty Small Cap 100 rose by 171 points (0.95 percent), Midcap 100 advanced 313 points (0.54 percent), and Nifty 100 gained 170 points (0.66 percent).
The Indian rupee also strengthened, trading 0.13 percent higher at ₹88.05, supported by the Fed’s rate cut signals and improving India-US trade relations.
With strong macro fundamentals and festive season tailwinds, analysts expect the markets to remain buoyant in the near term.
