Indian equity markets closed in positive territory on Tuesday after witnessing strong buying activity during the final phase of trading.
The benchmark Sensex climbed 394.50 points, or 0.54 percent, to settle at 73,918.76. The Nifty 50 also advanced 119.10 points, or 0.52 percent, to close at 23,242.10.
Market participants remained cautious for most of the session, but strong buying in select sectors helped indices finish near the day’s highs.
PSU Banks Lead The Rally
Public sector banking stocks emerged as the biggest gainers during the session.
The Nifty PSU Bank index surged more than 3 percent, making it the top-performing sectoral index of the day.
Financial services, automobile and real estate stocks also attracted fresh buying interest. Investors preferred rate-sensitive sectors amid improving market sentiment.
Broader Markets Outperform
The positive mood was not limited to large-cap stocks.
Broader markets outperformed the benchmark indices, reflecting improved investor confidence across segments.
The Nifty MidCap index gained 1.35 percent, while the Nifty SmallCap index rose 1.69 percent. The strong performance indicated wider market participation and healthy risk appetite among investors.
Global Sentiment Supports Market Mood
Investor sentiment improved after comments from US President Donald Trump suggested that peace discussions with Iran were progressing following a pause in hostilities between Iran and Israel.
The development eased concerns over geopolitical tensions and encouraged investors to take exposure to equities.
The improvement in global risk sentiment also supported markets across Asia and helped domestic benchmarks maintain positive momentum.
Top Gainers And Laggards
Among Nifty stocks, InterGlobe Aviation, Jio Financial Services and Eicher Motors were among the biggest contributors to the day’s gains.
However, the rally was not broad-based across all sectors. Information technology and media shares remained under pressure.
The Nifty IT and Nifty Media indices ended lower and emerged as the weakest sectoral performers during the session.
Key Levels To Watch
Market experts said Nifty now faces immediate resistance in the 23,450-23,550 zone if it sustains above 23,300.
On the downside, 23,100 remains an important support level. A break below 23,000 could trigger profit booking and increase pressure on the benchmark index in the near term.