The Indian stock market experienced a significant surge on Tuesday, marking the second consecutive day of gains. The BSE Sensex climbed 1,131.31 points, or 1.53%, to close at 75,301.26, while the NSE Nifty advanced 325.55 points, or 1.45%, ending at 22,834.30.
This upward momentum was driven by strong performances across various sectors, notably real estate, automotive, and banking. Market breadth was positive, with approximately 2,715 stocks advancing, 1,153 declining, and 117 remaining unchanged.
Analysts attribute the rally to positive global cues and investor optimism. Ajit Mishra, Senior Vice President of Research at Religare Broking, noted that the decisive breakout from a week-long consolidation reinforces the recovery momentum, with the Nifty now eyeing the 23,100 level. However, he cautioned that global factors, such as the upcoming Federal Reserve meeting and geopolitical uncertainties, could introduce intermittent volatility.
Rupak De, Senior Technical Analyst at LKP Securities, observed that the Nifty’s movement above the critical 21-day exponential moving average signals a bullish short-term trend, with potential to reach 23,150, while support is placed at 22,700.
In the broader market, both midcap and smallcap indices outperformed the benchmarks, each rising more than 2%. All sectoral indices ended in the green, with auto, capital goods, consumer durables, metal, power, realty, and media indices up by 2-3%.
Overall, the market’s robust performance reflects growing investor confidence, supported by favorable domestic and international developments.
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