Stock Market Today: Sensex gains 250 pts; Nifty tests 25,900—HCLTech, Eternal top gainers

Stock Market Today: Indian equity benchmarks opened on a positive note on Tuesday, tracking strong global cues and investor optimism on trade deal.

The BSE Sensex rose 263.10 points, or 0.31 per cent, to 84,141.27, after opening at 84,079.32.

The broader Nifty 50 gained 50.05 points, or 0.19 per cent, to 25,840.30, following an opening at 25,897.35. The previous session saw the Sensex close at 83,878.17 and the Nifty at 25,790.25.

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Top gainers and losers

Eternal, Tech Mahindra, SBI, BEL, HDFC Bank, Maruti Suzuki, HUL, Titan Company, ICICI Bank, ITC, and Axis Bank were among the top gainers, rising up to 3 per cent. On the flipside, L&T, RIL, Tata Steel, M&M, Trent, TCS, IndiGo, Bharti Airtel, and Sun Pharma were in the red.

Broader markets and sectors

The Nifty MidCap index slipped 0.17 per cent, while the Nifty SmallCap index gained 0.39 per cent. Among sectors, the Nifty PSU Bank index gained 0.88 per cent, followed by the Nifty FMCG, IT, and Metal indices, each up around 0.3 per cent. On the downside, the Nifty Pharma index fell 0.25 per cent.

Market sentiment

Positive domestic sentiment was supported by US Ambassador Sergio Gor’s statement that the US is determined to have a trade agreement with India, with talks resuming as early as today. Broader indices also reflected the momentum, with the Nifty 100 up 0.18 per cent, Nifty SmallCap 100 gaining 0.64 per cent, and Nifty Midcap 100 rising 0.38 per cent. Sectorally, Nifty Media rose 0.88 per cent, Nifty Auto 0.15 per cent, Nifty FMCG 0.26 per cent, Nifty Metal 0.43 per cent, Nifty PSU Bank 0.65 per cent, and Nifty Private Bank 0.29 per cent.

Foreign and domestic flows

On Monday, foreign institutional investors sold equities worth Rs 3,638.40 crore, while domestic institutional investors bought shares worth Rs 5,839.32 crore.

Global cues

US indices — Dow, S&P 500, and Russell 2000 — hit new all-time highs, while Japan’s Nikkei also touched record levels. The Indian rupee gained 1 paisa to close at 90.15/$, while the dollar index ended below 98.70 after a four-day rally. US bond yields remained muted at 4.17 per cent. Crude oil climbed above $64, reaching a two-month high. Precious metals also surged, with gold at Rs 1,42,500 and silver at Rs 2,71,352, marking fresh all-time highs. Copper approached record levels, aluminum strengthened for the third consecutive day to April 2022 highs, and zinc, nickel, and lead remained firm.