Benchmark indices closed significantly higher on Tuesday, buoyed by positive global cues and anticipation of a rate cut by the Reserve Bank of India (RBI).
The S&P BSE Sensex rose by 1,089.18 points to settle at 74,227.08, while the NSE Nifty50 jumped 374.25 points to end at 22,535.85.
Aditya Gaggar of Progressive Shares attributed the rise to oversold conditions and a global equity rebound. Vinod Nair from Geojit Investments highlighted strong domestic demand and favorable trade talks with the U.S. as key factors, along with a focus on the RBI's policy meeting, where a 25-basis point rate cut is being anticipated.
On the Sensex, Titan led the rally with a 3.29% gain, followed by Bajaj Finance (+3.21%), SBI (+3.00%), L&T (+2.94%), and Bajaj Finserv (+2.75%). Power Grid Corporation was the only stock to close in the red, slipping just 0.14%.
All NSE Nifty sectoral indices ended in the green:
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Nifty Media surged 4.72%, the day’s best performer.
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Nifty PSU Bank rose 2.64%, Nifty Consumer Durables gained 2.59%, and Nifty Realty climbed 2.47%.
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Nifty Oil & Gas (+2.20%), Nifty Financial Services (+2.16%), Nifty Smallcap 100 (+2.13%), and Nifty Midcap 100 (+2.11%) followed closely.
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Gains were also seen in Nifty FMCG (+1.99%), Nifty Pharma (+1.91%), Nifty Auto (+1.83%), Nifty IT (+1.76%), and Nifty Metal (+1.52%).
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Nifty Healthcare added 1.65% and Nifty Private Bank saw a 1.27% rise.
The India VIX, a key volatility indicator, dropped sharply by 10.31%, reversing its over 60% spike from the previous session, indicating reduced market anxiety.
