Indian stock market rallies for the second consecutive day as Sensex jumps 1,225 points to 76,918 and Nifty gains 370.5 points to 23,810 ahead of Diwali.
Mumbai: India's stock markets continued their strong upward momentum for the second consecutive trading session, bringing cheer to investors ahead of the festive season. The BSE Sensex surged 1,225.07 points on Tuesday to close at 76,918, while the NSE Nifty gained 370.5 points to settle at 23,810. The rally followed Monday's sharp gains, when the Sensex had climbed nearly 1,000 points shortly after trading began.
Together, the two sessions added more than 2,400 points to the benchmark indices, significantly improving investor sentiment ahead of Diwali. Market analysts attributed the rally primarily to declining crude oil prices, which have raised expectations of lower import costs for India, a major oil-importing economy. Cheaper crude could help reduce the country's import bill, ease pressure on the trade deficit and inflation, and improve the broader economic outlook. Lower energy and transportation costs could also benefit companies across several industries by reducing operating expenses and supporting profit margins.
Expectations surrounding a favourable approach to long-term capital gains (LTCG) taxation have also contributed to improving investor confidence and encouraging fresh buying. Foreign institutional investors (FIIs) further strengthened the market's upward momentum through substantial purchases. According to market data, foreign investors and institutions bought shares worth Rs 3,117.99 crore on Monday. In contrast, domestic institutional investors (DIIs) remained net sellers, offloading equities worth Rs 406.61 crore during the session.
Sectoral buying in FMCG, financial services and real estate stocks contributed significantly to Tuesday's gains. Among the 30 Sensex constituents, Hindustan Unilever (HUL), Bharti Airtel and HDFC Bank emerged as the major gainers. However, Power Grid, State Bank of India (SBI) and Infosys failed to participate in the broader rally and remained among the notable laggards. The sharp recovery over two consecutive sessions has brought renewed optimism to Dalal Street, with investors closely watching global crude oil movements and foreign investment flows for further market direction.
Mumbai: India's stock markets continued their strong upward momentum for the second consecutive trading session, bringing cheer to investors ahead of the festive season. The BSE Sensex surged 1,225.07 points on Tuesday to close at 76,918, while the NSE Nifty gained 370.5 points to settle at 23,810. The rally followed Monday's sharp gains, when the Sensex had climbed nearly 1,000 points shortly after trading began.
Together, the two sessions added more than 2,400 points to the benchmark indices, significantly improving investor sentiment ahead of Diwali. Market analysts attributed the rally primarily to declining crude oil prices, which have raised expectations of lower import costs for India, a major oil-importing economy. Cheaper crude could help reduce the country's import bill, ease pressure on the trade deficit and inflation, and improve the broader economic outlook. Lower energy and transportation costs could also benefit companies across several industries by reducing operating expenses and supporting profit margins.
Expectations surrounding a favourable approach to long-term capital gains (LTCG) taxation have also contributed to improving investor confidence and encouraging fresh buying. Foreign institutional investors (FIIs) further strengthened the market's upward momentum through substantial purchases. According to market data, foreign investors and institutions bought shares worth Rs 3,117.99 crore on Monday. In contrast, domestic institutional investors (DIIs) remained net sellers, offloading equities worth Rs 406.61 crore during the session.
Sectoral buying in FMCG, financial services and real estate stocks contributed significantly to Tuesday's gains. Among the 30 Sensex constituents, Hindustan Unilever (HUL), Bharti Airtel and HDFC Bank emerged as the major gainers. However, Power Grid, State Bank of India (SBI) and Infosys failed to participate in the broader rally and remained among the notable laggards. The sharp recovery over two consecutive sessions has brought renewed optimism to Dalal Street, with investors closely watching global crude oil movements and foreign investment flows for further market direction.
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