Market Rally: Sensex and Nifty Surge on Global Cues
Benchmark equity indices surged in early trade on Tuesday, tracking a rally in global markets. The 30-share BSE benchmark Sensex jumped 1,750.37 points to 76,907.63, while the NSE Nifty surged 539.8 points to 23,368.35.
Key Gainers and Laggards
- Top Gainers:
- Tata Motors: Rallied 5%
- Larsen and Toubro: Significant gains
- HDFC Bank: Major gain
- Mahindra and Mahindra: Substantial increase
- ICICI Bank and IndusInd Bank: Notable gains
- Laggards:
- Hindustan Unilever
- Asian Paints
- Nestle
- Kotak Mahindra Bank
Global Market Trends
Global indices across the US, Asia, and Europe gained 3-4% over Friday and Monday. The US government excluded computers and electronics from reciprocal tariffs. This move boosted global sentiment.
US Market Movement
US markets ended higher on Monday after President Donald Trump announced temporary exemptions on tariffs for smartphones, computers, and electronics. He also considered exemptions on tariffs for imported vehicles and auto parts ¹.
Asian Market Performance
- South Korea’s Kospi index: Trading in positive territory
- Tokyo’s Nikkei 225: In the green
- Hong Kong’s Hang Seng: Trading positively
- Shanghai SSE Composite index: Quoted lower
Market Outlook
Vikas Jain, Head of Research at Reliance Securities, said the move signals a potential window for trade negotiations. It also points to easing global trade war concerns. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,519.03 crore on Friday. Global oil benchmark Brent crude went up by 0.09% to USD 64.94 a barrel.
