With buying momentum, Indian frontline indices on Tuesday surged over 2% led by buying in banking and auto stocks.
The S&P BSE Sensex gained 1,578 points, or 2.10%, to 76,735 points led by IndusInd Bank (6.84), Tata Motors (4.50%), L&T (4.50%), Axis Bank (4.18%), Adani Ports (4.02%) and HDFC Bank (3.23%).
While the BSE Midcap index gained 3.03%, the BSE Smallcap had risen 3.21%.
The NSE Nifty-50 index too surged 500 points, or 2.19%, to 23,329 points.
“It was yet another gap-up opening for the markets, where Nifty opened by 540 points. After a strong opening, Nifty managed to sustain at a higher level. From 7 April’s low of 21,743, Nifty has risen more than 1,600 points in a span of five trading sessions,” said Nandish Shah, deputy vice president, HDFC Securities.
Trading volumes on the NSE cash market saw a 7% increase compared with the previous close, indicating strong participation, he added
Adding to the positive sentiment, the Indian Rupee continued its winning streak for the second consecutive day, appreciating by 27 paisa against the U.S. dollar to settle at 85.77.
“This strength was fuelled by the buoyant equity markets, some easing in tariff concerns, and a weakening dollar amid President Trump’s evolving stance on reciprocal duties,” said Mr. Shah.
“The volatility gauge, India VIX, witnessed a significant cooling off, plummeting by over 20% in Tuesday’s trade. This easing of fear Index further bolstered market confidence,” he pointed out.
The Nifty Midcap 100 and Smallcap 100 indices witnessed strong gains of 2.90% and 3.10% respectively, indicating widespread buying interest. The market breadth was overwhelmingly positive, with advancing shares significantly outpacing declining ones.
The advance-decline ratio on the BSE stood at a robust 4.23, marking its highest point since April 1, 2024.
“Across sectors, a bullish sentiment prevailed, with all sectoral indices closing in the green for the second straight day. Leading the charge were the realty, auto, financial services, and metal sectors, all registering substantial gains,” Mr. Shah said.
Published – April 15, 2025 07:57 pm IST
