Nifty close to 25,900, with Sensex rising over 300 points, driven by Infosys and HDFC Bank
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Summary: All 13 of the National Stock Exchange's sector gauges were showing signs of buying, with the Nifty IT index leading the way with a 0.6% increase in trading.
The Indian equity benchmarks rose on Tuesday despite mixed signals from Asian markets, due to gains in Infosys, HDFC Bank, Reliance Industries, Larsen & Toubro, Mahindra & Mahindra, and ICICI Bank. The Sensex rose by 348 points, and the Nifty 50 index reached an intraday high of 25,905.
As of 9:20 a.m., the Nifty 50 index went up 80 points to 25,890 and the Sensex went up 298 points to 84,598.
Asian markets were trading mostly down. The Nikkei in Japan increased by 1.51 percent, the KOSPI in South Korea was down 2.11 percent, the Taiwan weight decreased by 2.62 percent, and the Straits Times in Singapore decreased by 0.22 percent. Due to a holiday, China's stock exchanges were closed for a week.
After a slight decline, the S&P 500 surged to a new high finish on Monday night, led by Federal Reserve Chair Jerome Powell, who stated that the US central bank is not in a rush to continue cutting interest rates.
Additionally, the Dow closed at an all-time high. The quarter and the month saw improvements for the three main US stock indexes.
At home, buying was visible across all sectors in all markets, as shown by the increases in nine of the thirteen sector indicators compiled by the National Stock Exchange, led by the 0.6% rise in the Nifty IT index. Nifty Bank, Auto, Financial Services, PSU Bank, and Private Bank all enjoyed increases in their respective indexes of 0.3-0.6%.
However, shares in the metal, FMCG, media, and healthcare industries were under selling pressure.
The Nifty Midcap 100 index decreased by 0.02 percent, while the Nifty Smallcap 100 index increased by 0.47 percent, resulting in a mixed trading session for mid- and small-cap equities.
The largest Nifty gainer was Tech Mahindra, whose shares increased 3.72% to Rs 1,635. The following companies increased: Hero MotoCorp, Axis Bank, Kotak Mahindra Bank, Larsen & Toubro, State Bank of India, Infosys, Wipro, Coal India, Mahindra & Mahindra, and Axis Bank.
On the other hand, some companies like Asian Paints, JSW Steel, Hindalco, Maruti Suzuki, Hindustan Unilever, Titan, Tata Steel, and Bajaj Finance suffered losses. There was a good overall market breadth, with 2,027 shares rising and 900 shares falling on the BSE.
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