Indian equities concluded Tuesday's session on a positive note, although a large portion of the intraday gains was relinquished by the close. The market benefited from favorable global indicators and some bargain hunting following recent declines.
Nonetheless, concerns over geopolitical tension, the unpredictable trajectory of U.S. interest rates, and a lack of substantial domestic catalysts prompted investors to exercise caution, leading to reduced commitments at elevated valuation levels.
Among the sectors leading the gains were automobile, pharmaceutical, real estate, technology, and media stocks.
The BSE Sensex, after reaching a peak of 78,451.65 around midday with an increase of over 1,100 points, concluded the day up by 239.37 points, or 0.31%, at 77,578.38, thereby breaking a four-day losing streak.
Similarly, the NSE's Nifty50 ended the session with a rise of 64.70 points, or 0.28%, at 23,518.50, significantly below the day's high of 23,780.65.
Mahindra & Mahindra led the charge with an increase of over 3.5%. Tech Mahindra and HDFC Bank both finished with gains of approximately 2.25%. Sun Pharmaceutical Industries, Tata Motors, Titan, and UltraTech Cement posted gains ranging from 1.4% to 1.6%.
Power Grid Corporation, Infosys, Adani Ports, Axis Bank, and Tata Consultancy Services also registered moderate advances.
Dr. Reddy's Laboratories, Eicher Motors, Wipro, Trent, and ONGC ended the session on a positive note as well.
Conversely, Reliance Industries, State Bank of India, Tata Steel, Bajaj Finserv, Maruti Suzuki, and Larsen & Toubro saw declines of 1% to 1.6%. Tata Consumer Products and Shriram Finance also weakened.
Overall market breadth remained positive until the end. On the BSE, 2,362 stocks closed higher, 1,601 finished weaker, and 96 stocks ended the day unchanged.
