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The Indian stock market closed on a positive note Tuesday, with both benchmark indices registering significant gains driven by a strong performance in the banking and financial sectors. The BSE Sensex climbed 378.18 points, or 0.47 per cent, to close at 80,802.86, while the Nifty 50 advanced 126.20 points, or 0.51 per cent, to end at 24,698.85.
The day began on an optimistic note, with the Sensex opening at 80,722.54 and the Nifty at 24,648.90. Market sentiment remained buoyant throughout the session, with indices comfortably trading above key resistance levels.
Shrikant Chouhan, Head of Equity Research at Kotak Securities, said, “Today, the benchmark indices continued positive momentum... Technically, after a positive opening, the market traded comfortably above the 24650/80600 resistance mark, which is largely positive.”
Among the top gainers on the NSE, SBI Life led the pack with a remarkable 5.48 per cent increase, followed by HDFC Life (3.48 per cent), Bajaj Finserv (3.41 per cent), IndusInd Bank (2.55 per cent), and Shriram Finance (2.39 per cent). On the BSE Sensex, Bajaj Finserv was the top performer, surging 3.26 per cent.
However, some stocks faced selling pressure. The top losers on the NSE included Bharti Airtel (-1.41 per cent), ONGC (-1.40 per cent), Apollo Hospital (-1.11 per cent), Adani Enterprises (-1.02 per cent), and Cipla (-0.80 per cent). On the Sensex, Bharti Airtel was the biggest laggard, declining 1.30 per cent.
Market breadth was positive, with 2,375 stocks advancing compared to 1,557 declines on the BSE. 104 stocks remained unchanged. The market saw 291 stocks hitting 52-week highs, while 21 touched 52-week lows. 393 stocks reached the upper circuit limit, and 192 hit the lower circuit.
Chouhan added, “We are of the view that the larger market texture is bullish but buying on dips and sell on rallies would be the ideal strategy for day traders.”
The broader market also showed strength, with 4,036 stocks traded during the session. The positive sentiment was further reflected in the number of stocks reaching new highs, significantly outnumbering those hitting lows.
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