Share Market Ends Higher, Sensex Closes Over 200 Points Up, Nifty Settles Above 23,700

This rally was driven by intense buying seen in blue-chip stocks such as Reliance, L&T, and ICICI Bank, along with a firm trend seen in the global markets.

In the broader markets, the Nifty Microcap 250 index rallied 2.22 per cent, followed by the Nifty Smallcap 250 index which climbed 1.41 per cent. 

Source : Wikipedia

The stock market ended trading on Tuesday in green, managing to recover some of the losses taken in the last trading session. The key equity benchmarks, Sensex and Nifty, closed the session higher. The BSE Sensex settled for the day more than 200 points higher at 78,199.11, while the NSE Nifty50 ended trading at 23,707.90, climbing more than 90 points in the session.

This rally was driven by intense buying seen in blue-chip stocks such as Reliance, L&T, and ICICI Bank, along with a firm trend seen in the global markets. However, traders noted that a slump in the IT stocks prior to the earnings season and a muted rupee against the US dollar weighed down the sentiment in the market and restricted the rally.

On the 30-share Sensex platform, Tata Motors, Reliance, IndusInd Bank, ICICI Bank, and Asian Paints emerged among the gainers. On the other hand, Zomato, HCL Tech,TCS, Tech M, and Maruti stood among the laggards. 

In the broader markets, the Nifty Microcap 250 index rallied 2.22 per cent, followed by the Nifty Smallcap 250 index which climbed 1.41 per cent. 

Sector-wise, the Oil & Gas and Midsmall Healthcare indices dominated the session and ended trading 1.64 per cent and 1.55 per cent higher respectively.

Foreign Institutional Investors (FIIs) continued with a bearish stance and dumped Indian equities worth Rs 2,575.06 crore on Monday, exchange data showed. In Asian markets, Seoul, Shanghai, and Tokyo settled the day higher, while Hong Kong ended on a negative sentiment. US markets closed trading mostly higher on Monday.The global oil benchmark Brent crude declined 0.12 per cent to reach $76.21 per barrel. The Indian currency depreciated 5 paise to close at 85.73 (provisional) against the greenback on Tuesday.

Anuj Choudhary, Research Analyst, Mirae Asset Sharekhan, said, "We expect the rupee to trade with a negative bias on FII outflows and underlying strength in the US dollar amid expectations of no rate cut by Fed in January. However, any extended recovery in the domestic markets may support rupee at lower levels. Traders may take cues from ISM services PMI, trade balance and JOLTS jobs data from the US."