Sensex Jumps 383 Points, Nifty Ends Above 23,480 As IT Stocks Lead Strong Market Recovery
· Free Press Journal
Mumbai: Indian equity markets snapped a four-session losing streak on Tuesday and finished in positive territory after a strong recovery from the day's lows.
The Sensex climbed 383 points to close at 74,650, while the Nifty advanced 101 points to settle at 23,484. Both benchmark indices recovered more than 1 percent from their intraday lows as buying emerged in key sectors.
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IT Stocks Drive the Rally
Information technology shares were the biggest contributors to the market rebound.
The Nifty IT index extended its winning streak to a third straight session, with all constituent stocks ending in the green. Major IT companies including TCS, Infosys and HCLTech attracted strong buying interest and featured among the top gainers on the Nifty.
The strength in IT stocks helped improve overall market sentiment and supported benchmark indices throughout the second half of the trading session.
Broader Markets Also Stay Positive
The positive trend was visible across broader market segments as well.
The Nifty Bank index gained 72 points to close at 53,715, while the Nifty Midcap 100 index rose 114 points to 60,942.
Sensex Ends 114 Points Lower After Late Banking Sell-Off, IT Stocks Continue Strong Rally For Second DayMarket breadth remained healthy, indicating broader participation from investors. On the NSE, advancing stocks outnumbered declining stocks, with the advance-decline ratio standing at approximately 3:2.
Stocks That Made Headlines
Among individual stocks, Groww gained more than 2 percent after receiving regulatory approval from SEBI for State Street's AMC stake acquisition.
NMDC rose around 3 percent after reporting a 20 percent increase in iron ore production during May. Hero MotoCorp also ended higher following encouraging monthly sales numbers.
Meanwhile, Maruti Suzuki recovered more than 3 percent from its intraday lows after management shared positive views on demand in the entry-level vehicle segment.
Markets Rally For Second Straight Week, Nifty Closes At 24,353 And Sensex Jumps 505 Points To 78,493NHPC, Force Motors Under Pressure
Some stocks, however, remained under selling pressure.
NHPC declined more than 6 percent after the government launched an Offer for Sale (OFS) to dilute up to a 6 percent stake in the company.
Force Motors fell nearly 6 percent after reporting a 15 percent decline in vehicle sales for May, which weighed on investor sentiment.
Overall, the session reflected improving confidence among investors, with strong buying in technology stocks helping markets end the day on a positive note.