Share Market Rallies Ahead: Sensex Over 850 Points Higher, Nifty Nears 22,800. Rupee At 86.71 Vs Dollar

On the 30-share Sensex platform, Zomato, ICICI Bank, and Tata Motors emerged among the gainers in the session so far. Meanwhile, the laggards included Bajaj Finserv, IndusInd Bank, and Bajaj Finance. 

The Indian stock market rallied ahead on Tuesday morning. The benchmark indices surged high in the session, driven by a positive trend in global markets and buying in bank stocks. As of 10:32 AM, the BSE Sensex climbed more than 850 points, to trade near 75,050, while the NSE Nfity50 jumped over 250 points and crossed the 22,750 mark in the session.

On the 30-share Sensex platform, Zomato, ICICI Bank, L&T, M&M, and Tata Motors emerged among the gainers in the session so far. Meanwhile, the laggards included Bajaj Finserv, IndusInd Bank, and Bajaj Finance. 

In the broader markets, the Nifty Microcap 250 index dominated in green and traded 2.27 per cent higher. Sectorally, the Media and Realty indices surged 1.97 per cent and 1.88 per cent respectively.

Macro Indicators

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong stood in the positive territory, while the US markets closed trading higher on Monday. The foreign institutional investors (FIIs) dumped Indian equities worth Rs 4,488.45 crore on Thursday, while domestic institutional investors (DII) infused Rs 6,000.60 crore, according to exchange data.

The Indian rupee appreciated 10 paise to touch 86.71 against the US dollar in early trade on Monday, as domestic equities traded higher. The global oil benchmark Brent crude climbed 0.25 per cent to touch $71.25 a barrel. 

V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services noted, "Broad indications are that the market has bottomed out even though further corrections cannot be completely ruled out. Positive domestic cues like rebound on FY25 Q3 GDP growth to 6.2 per cent, spurt in IIP, increase in gross tax collection, declining trade deficit and more importantly decline in CPI inflation to 3.6 per cent are positive macro trends which augur well for the market."

However, the expert noted that these tailwinds might not strong enough to sustain the elevated levels of the market as the tariff wars will continue to have impacts across the globe.