Mumbai– The Indian stock market continued its upward momentum for the sixth consecutive trading session on Tuesday, buoyed by strong performances in fast-moving consumer goods (FMCG) and private banking stocks.
The Sensex opened on a firm note, rising 320 points to start the day at 79,728. However, early optimism waned as the index slipped into negative territory, hitting a low of 79,253, weighed down by sharp overnight losses in the U.S. markets.
Despite the early dip, the Sensex rebounded swiftly and stayed in positive territory for the remainder of the session. It touched an intra-day high of 79,824 before settling 187 points higher, or 0.24 percent, at 79,596.
With Tuesday’s gain, the Sensex has surged 5,749 points, or 7.8 percent, over the past six sessions, reflecting robust momentum in domestic equities.
The Nifty 50 mirrored the Sensex’s movement, falling to a low of 24,072 in early trade before rebounding to a high of 24,243. The index ended the session up 42 points, or 0.2 percent, at 24,167.
Tuesday’s rally coincided with a milestone for the National Stock Exchange (NSE), which marked its 29th anniversary.
Over the last six sessions, the Nifty has added 1,768 points, or 7.9 percent, signaling strong investor confidence despite lingering global market concerns.
Market analysts attributed the sustained rally to consistent buying in key sectors such as FMCG and banking.
“On the Nifty, the highest open interest on the call side was seen at the 25,500 and 24,200 strike prices, while on the put side, it was concentrated at the 24,000 and 23,000 levels,” said Sundar Kewat of Ashika Institutional Equity. He added that the Put-Call Ratio (PCR) stood at 1.05, indicating a moderately bullish sentiment.
The Bank Nifty led Tuesday’s rally, posting significant gains following the Reserve Bank of India’s announcement to ease final Liquidity Coverage Ratio (LCR) norms, effective from April 2026. The move is expected to improve liquidity in the banking sector, fueling investor optimism.
Beyond banking, sectors such as Realty, Consumer Durables, and FMCG also registered notable gains. The IT sector, however, was the only laggard, closing the day in the red.
“Globally, U.S. markets remained under pressure, weighed down by persistent selling,” Kewat noted, adding that despite global headwinds, Indian markets continued to demonstrate resilience. (Source: IANS)
