Sensex Gains 200 Points, Nifty Crosses 24,500; IT and Banking Stocks Lead Market Rally
Digital Desk
Indian benchmark equity indices opened on a positive note on Tuesday, with the BSE Sensex gaining over 200 points and the NSE Nifty 50 climbing around 50 points, supported by buying in information technology (IT) and banking stocks.
During early trade, the Sensex was trading near the 78,500 mark, while the Nifty was hovering around 24,500, extending the momentum from the previous trading session.
IT and Banking Stocks in Focus
Market sentiment remained positive in the opening session, with investors showing strong interest in IT and banking shares. Buying in heavyweight stocks from these sectors helped benchmark indices maintain gains despite mixed global cues.
Broader market trends were also supported by continued domestic institutional participation and selective buying across key sectors.
Asian Markets Trade Lower
Most major Asian markets were trading in the red on Tuesday.
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South Korea's Kospi declined around 5.95%.
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Japan's Nikkei slipped about 1.27%.
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Hong Kong's Hang Seng was also trading lower by nearly 0.35%.
The weak performance across Asian markets reflected cautious investor sentiment amid global economic concerns.
Wall Street Ended Higher
Despite weakness in Asian equities, U.S. markets closed with gains in the previous session.
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The Dow Jones Industrial Average advanced 156 points (0.29%).
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The Nasdaq Composite gained 288 points (1.12%).
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The S&P 500 rose 54 points (0.72%).
The positive close on Wall Street provided some support to investor sentiment in domestic markets.
Institutional Investors Continue Buying
According to the latest provisional data, Domestic Institutional Investors (DIIs) remained strong buyers, purchasing equities worth approximately โน3,792 crore in the previous session.
Meanwhile, Foreign Institutional Investors (FIIs/FPI) also remained net buyers, with purchases worth around โน243 crore, indicating continued foreign participation after recent volatility.
Previous Session Ended Strong
On July 6, Indian equity markets closed firmly in positive territory.
The Sensex settled 521 points higher at 78,285, while the Nifty gained 160 points to close at 24,430, driven by broad-based buying across sectors.
Market participants will continue to monitor global cues, institutional investment trends, corporate developments and upcoming macroeconomic data for further direction during the trading week.
