Sensex Today: Sensex Jumps Over 600 Points, Nifty Tops 24,200 on IT and Banking Rally
Digital Desk
Domestic equities rebound after previous session's decline; Asian markets trade mixed while foreign investors remain net sellers
Indian benchmark equity indices opened sharply higher on Tuesday, with the BSE Sensex gaining more than 600 points and the NSE Nifty advancing around 200 points, driven by strong buying in information technology and banking stocks.
During early trade, the Sensex was trading above 77,400, while the Nifty crossed the 24,200 mark, recovering from losses recorded in the previous session.
IT and banking stocks drive gains
The rally was led by buying interest in IT and banking counters, which emerged as the top-performing sectors in morning trade. The broad-based recovery helped lift overall market sentiment despite mixed global cues.
Market participants were also closely tracking foreign institutional investment trends and developments in international markets.
Asian markets show mixed trend
Major Asian indices traded on a mixed note during the session.
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Hang Seng (Hong Kong): Up 1.67%
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Nikkei (Japan): Down 1.08%
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Kospi (South Korea): Down 7.68%
The mixed performance reflected investor caution amid global economic and geopolitical developments.
Wall Street ends mixed
US markets closed mixed overnight.
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Dow Jones: Gained 537 points (+1.03%)
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S&P 500: Rose 16 points (+0.21%)
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Nasdaq Composite: Declined 55 points (-0.22%)
The positive finish in the Dow and S&P 500 offered some support to investor sentiment, although weakness in technology stocks weighed on the Nasdaq.
FIIs continue selling, DIIs provide support
Institutional investment data continued to show contrasting trends.
Over the past seven trading sessions:
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Foreign Institutional Investors (FIIs/FPI): Net sellers of approximately ₹7,825 crore
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Domestic Institutional Investors (DIIs): Net buyers of around ₹12,394 crore
On a 30-day basis, FIIs have remained net sellers, while domestic investors have continued to offset foreign outflows through sustained buying.
Market rebounds after Monday's decline
The gains come a day after domestic equities ended marginally lower.
On July 28, the:
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Sensex closed 69 points lower at 76,765
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Nifty slipped 10 points to settle at 23,985
Tuesday's recovery indicates renewed buying interest, particularly in heavyweight sectors, as investors await further domestic earnings announcements and global market cues.
