Source Reuters
Indian equity markets closed higher on Tuesday, extending their recent gains as strong buying interest in information technology and metal stocks powered a broad-based rally across sectors.
The benchmark BSE Sensex advanced over 400 points during the session to settle firmly in the green, while the NSE Nifty 50 climbed past the 22,000-mark. Gains were widespread, with most sectoral indices ending higher, reflecting improved investor sentiment.
IT stocks emerged as the top performers, buoyed by optimism over stable global demand and a softer rupee, which tends to support export-oriented companies. Heavyweights such as Infosys, TCS, and HCL Technologies recorded notable gains, contributing significantly to the benchmarks’ upward movement.
Metal stocks also witnessed strong buying, tracking firm global commodity prices and expectations of sustained demand from key sectors such as infrastructure and manufacturing. Shares of Tata Steel, JSW Steel, and Hindalco Industries rose sharply, further supporting the rally.
Banking and financial stocks traded mixed but provided underlying stability to the market. Select private lenders and non-banking financial companies posted modest gains, while some public sector banks saw profit booking after recent advances.
Mid-cap and small-cap stocks largely mirrored the positive trend in frontline indices, indicating broad market participation. Realty, auto, and capital goods stocks also ended higher, aided by expectations of steady economic growth and continued government spending.
Market participants remained cautiously optimistic ahead of key global cues, including movements in US bond yields and upcoming economic data from major economies. Domestically, investors are also closely tracking corporate updates and macroeconomic indicators for further direction.
Analysts said sustained buying in IT and metal stocks, coupled with improving risk appetite, helped Indian equities outperform several global peers. However, they cautioned that volatility may persist in the near term amid global uncertainties.
Overall, the session underscored a constructive undertone in the markets, with sector-wide participation reinforcing confidence in the ongoing recovery of Indian equities.
