sensex-and-nifty-extend-gains-for-third-consecutive-day

Benchmark equity indices in India continued their winning streak for the third consecutive day on Tuesday, buoyed by robust global market trends and positive sentiment among investors.

 

In early trade, the 30-share BSE Sensex surged 411.27 points to reach 74,059.89, while the NSE Nifty advanced 111.15 points to touch 22,447.55.

 

Several key stocks contributed to the rally, with Bharti Airtel, Titan Company, HCL Technologies, Mahindra & Mahindra, Bajaj Finserv, and Tata Motors emerging as major gainers. However, Power Grid, Larsen & Toubro, JSW Steel, and Axis Bank experienced some downward pressure.

 

The positive momentum in Indian markets mirrored the trend in Asian markets, where Seoul, Tokyo, and Hong Kong were trading in the green, while Shanghai saw a slight dip.

 

Wall Street closed on a positive note on Monday, adding to the overall optimistic sentiment in global markets.

 

Global oil benchmark Brent crude also witnessed an uptick, climbing 0.38 per cent to USD 87.33 a barrel, further contributing to the positive market sentiment.

 

V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, remarked, "The undercurrent of bullishness in this market has been reinforced by the market action over the last two trading days, with the Nifty spiking by 486 points from Friday's lows. External factors such as high bond yields in the US and geopolitical concerns in the Middle East have not dampened the underlying bullish trend."

 

Despite the positive momentum, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,915.23 crore on Monday after a day's pause, according to exchange data.