Indian Equity Markets Extend Winning Streak to Three Sessions
Indian equity markets maintained their upward trajectory for the third consecutive trading session on Tuesday, propelled by encouraging global market trends and growing optimism surrounding a potential trade agreement between India and the United States. However, the gains were somewhat restrained as investors opted to secure profits at elevated price levels.
Benchmark Indices Register Modest Gains
The benchmark BSE Sensex concluded the session with an increase of 208.17 points, equivalent to 0.25 percent, settling at 84,273.92. Throughout the trading day, the index experienced a more substantial surge, climbing as much as 417.2 points to reach an intraday peak of 84,482.95. Similarly, the broader NSE Nifty closed in positive territory, advancing by 67.85 points, or 0.26 percent, to finish at 25,935.15. The Nifty also touched a session high of 25,989.45 during the day.
Top Performers and Underperformers
Nifty 50 Top Gainers:
- Eternal: +5.18% (Rs 303.80)
- Tata Steel: +2.98% (Rs 208.01)
- ONGC: +2.09% (Rs 272.15)
- Bajaj Auto: +1.92% (Rs 9,774)
- Mahindra & Mahindra: +1.84% (Rs 3,676)
Nifty 50 Top Losers:
- HCL Technologies: -1.81% (Rs 1,573)
- Bajaj Finance: -1.79% (Rs 965.60)
- Dr. Reddy's Laboratories: -1.53% (Rs 1,256)
- Shriram Finance: -1.33% (Rs 1,049)
- Bharti Airtel: -1.32% (Rs 2,011)
Sensex Top Gainers:
- Eternal: +5.18% (Rs 303.80)
- Tata Steel: +2.98% (Rs 208.01)
- Mahindra & Mahindra: +1.84% (Rs 3,676)
- Power Grid Corporation: +1.59% (Rs 294.35)
- Tech Mahindra: +1.42% (Rs 1,645)
Sensex Top Losers:
- HCL Technologies: -1.81% (Rs 1,573)
- Bajaj Finance: -1.79% (Rs 965.60)
- Bharti Airtel: -1.32% (Rs 2,011)
- Asian Paints: -0.99% (Rs 2,394)
- HDFC Bank: -0.52% (Rs 932.40)
Market Dynamics and Expert Commentary
Significant buying interest was observed in several heavyweight stocks, including Eternal, Tata Steel, Mahindra & Mahindra, Power Grid, Tech Mahindra, NTPC, Larsen & Toubro, Tata Consultancy Services, Maruti Suzuki India, Axis Bank, Titan, and Hindustan Unilever, all of which ended among the top gainers on the Sensex. Conversely, selling pressure impacted stocks such as HCL Technologies, Bajaj Finance, Bharti Airtel, Asian Paints, HDFC Bank, UltraTech Cement, Adani Ports, and ITC, leading to their decline.
Vinod Nair, Head of Research at Geojit Investments Ltd, provided insights into the market trend, noting that domestic equities continued their upward momentum, supported by favorable global cues and progress on the US trade agreement. "Domestic equities continued their upward momentum, supported by the US trade agreement and positive cues from key Asian markets. A strong resurgence in FII inflows, coupled with rupee appreciation, is further bolstering investor sentiment, although intermittent profit-booking was visible across sectors," Nair stated.
He further elaborated that with concerns over tariffs easing, market attention is now shifting towards quarterly earnings for directional cues. "The near-term market trajectory is expected to hinge on Q3 earnings, which have been mixed and below expectations so far," Nair noted, adding that investors are evaluating the combined impact of recent fiscal and monetary measures on future earnings growth.
Global Market Context
Asian markets concluded Tuesday's session on a firm note, with Japan's Nikkei 225, Hong Kong's Hang Seng, South Korea's Kospi, and China's Shanghai Composite all closing higher. European markets were predominantly trading in positive territory during mid-session, while US stocks ended higher overnight. In the commodities market, Brent crude experienced a slight decline of 0.20 percent, settling at $68.89 per barrel.
The positive momentum on Tuesday followed a robust performance on Monday, where the Sensex surged by 485.35 points to close at 84,065.75, and the Nifty jumped 173.60 points to end at 25,867.30, setting a favorable tone for the subsequent session's gains.
