Mumbai, June 9: After experiencing significant declines for two consecutive sessions, the Indian stock market closed in positive territory on Tuesday. By the end of the trading day, the Sensex rose by 394.50 points, or 0.54%, to reach 73,918.76, while the Nifty increased by 119.10 points, or 0.52%, settling at 23,424.10.
The market rally was primarily driven by banking stocks, with the Nifty Bank closing up by 2.09%. Additionally, the Nifty India Defense, Nifty Realty, Nifty Financial Services, Nifty Auto, Nifty India Manufacturing, Nifty FMCG, and Nifty Services indices showed the most significant gains. Conversely, the Nifty IT and Nifty Media indices ended the day in the red.
Both mid-cap and small-cap stocks also saw positive movements alongside large-cap stocks. The Nifty Midcap 100 index surged by 809.80 points, or 1.35%, to close at 60,715.45, while the Nifty Smallcap 100 index rose by 300.15 points, or 1.69%, reaching 18,063.60.
Among the gainers in the Sensex pack were Indigo, SBI, ICICI Bank, Axis Bank, Bajaj Finance, Asian Paints, Trent, Maruti Suzuki, HUL, Kotak Mahindra Bank, M&M, Bajaj Finserv, Adani Ports, and UltraTech Cement. On the other hand, Titan, NTPC, Power Grid, Tech Mahindra, Bharti Airtel, Eternal, Infosys, Sam Pharma, HCL Tech, and Bharat Electronics were among the losers.
Market experts noted a slight recovery in domestic markets following significant declines. This rebound is attributed to the cessation of conflict between Iran and Israel and a decrease in crude oil prices.
Investor sentiment remains mixed due to ongoing selling by Foreign Institutional Investors (FIIs) and elevated bond yields. Analysts indicated that investors will be focusing on upcoming inflation data from the U.S., Federal Reserve policies, and global liquidity trends.
The Indian stock market opened positively, with both the Nifty and Sensex initially rising by 0.5%.
–
Leave a Comment