Stock market today: The Indian stock market witnessed a strong rally on Tuesday, with BSE Sensex and Nifty50 benchmark indices posting significant gains. The Sensex, comprising 30 blue-chip stocks, surged 378.18 points or 0.47 per cent to close at 80,802.86. During intraday trading, the index reached a high of 80,942.96, up 518.28 points or 0.64 per cent.
The broader Nifty index also experienced a robust performance, rising for the fourth straight session.It gained 126.20 points or 0.51 per cent to end the day at 24,698.85.
The rally was driven by strong buying activity in banking, financial, and auto stocks. Among the top performers on the Sensex were Bajaj Finserv, IndusInd Bank, Tech Mahindra, Bajaj Finance, Kotak Mahindra Bank, Axis Bank, NTPC, and Sun Pharma. However, some stocks, such as Bharti Airtel, ITC, Adani Ports, JSW Steel, and Tata Motors, ended the day as laggards.
Global markets presented a mixed picture, with Asian markets like Seoul and Tokyo closing higher, while Shanghai and Hong Kong ended lower. European markets were trading in positive territory, and the US markets had closed higher on Monday.
Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, attributed the strength of the Indian stock market to consistent SIP inflows from retail investors. He also highlighted the importance of global factors, particularly the upcoming release of the July FOMC meeting minutes on Wednesday, which investors will be closely monitoring.
Foreign Institutional Investors (FIIs) were net sellers on Monday, offloading equities worth Rs 2,667.46 crore. In contrast, Domestic Institutional Investors (DIIs) were net buyers, purchasing equities worth Rs 1,802.92 crore.
The global oil benchmark, Brent crude, experienced a slight decline of 0.72 per cent, settling at USD 77.10 a barrel.
On Monday, the BSE benchmark had slipped 12.16 points or 0.02 per cent to close at 80,424.68 in a range-bound trade. The NSE Nifty, on the other hand, had edged up 31.50 points or 0.13 per cent to 24,572.65 amid volatile trading conditions.
The broader Nifty index also experienced a robust performance, rising for the fourth straight session.It gained 126.20 points or 0.51 per cent to end the day at 24,698.85.
The rally was driven by strong buying activity in banking, financial, and auto stocks. Among the top performers on the Sensex were Bajaj Finserv, IndusInd Bank, Tech Mahindra, Bajaj Finance, Kotak Mahindra Bank, Axis Bank, NTPC, and Sun Pharma. However, some stocks, such as Bharti Airtel, ITC, Adani Ports, JSW Steel, and Tata Motors, ended the day as laggards.
Global markets presented a mixed picture, with Asian markets like Seoul and Tokyo closing higher, while Shanghai and Hong Kong ended lower. European markets were trading in positive territory, and the US markets had closed higher on Monday.
Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, attributed the strength of the Indian stock market to consistent SIP inflows from retail investors. He also highlighted the importance of global factors, particularly the upcoming release of the July FOMC meeting minutes on Wednesday, which investors will be closely monitoring.
Foreign Institutional Investors (FIIs) were net sellers on Monday, offloading equities worth Rs 2,667.46 crore. In contrast, Domestic Institutional Investors (DIIs) were net buyers, purchasing equities worth Rs 1,802.92 crore.
The global oil benchmark, Brent crude, experienced a slight decline of 0.72 per cent, settling at USD 77.10 a barrel.
On Monday, the BSE benchmark had slipped 12.16 points or 0.02 per cent to close at 80,424.68 in a range-bound trade. The NSE Nifty, on the other hand, had edged up 31.50 points or 0.13 per cent to 24,572.65 amid volatile trading conditions.
