On Tuesday, Indian stocks saw slight growth as investors cautiously awaited crucial inflation data from the U.S. and Europe, due this week, which could give indications on the timeline and speed of potential interest rate cuts. The weakening U.S. dollar provided some stability, particularly in light of unexpected Japanese inflation figures, which strengthens the argument for the Bank of Japan to end its negative rate policy by April.
Global signals were somewhat ambivalent following another warning from a Federal Reserve official against premature interest rate cuts. Benchmark S&P/BSE Sensex saw a rise by 305.09 points or 0.42 percent to 73,095.22, whereas the wider NSE Nifty index ended up 76.30 points or 0.34 percent higher at 22,198.35.
Tata Motors experienced a 2.7 percent boost following reports that the Group is planning to take its electric vehicles business, Tata EV, public in the next couple of years. IT stocks also saw an upswing, prominently with TCS surging 2.5 percent after receiving a rating boost from UBS.
Big names like Sun Pharma, IndusInd Bank, and Power Grid Corp saw a rise of 1-2 percent while Hero MotoCorp underwent losses closing 1.7 percent lower as February's monthly sales figures were about to be released. Divis Laboratories, Bajaj FinServ, SBI, and Bajaj Finance all saw dips of over 1 percent.
