Indian Share Markets Beat Global Concerns, Sensex Rallies Over 350 Points, Nifty Tests 22,900

Sectorally, the Nifty Pharma index clocked the biggest hit in the session and plunged 2.46 per cent. On the other hand, the Nifty Financial Services index rallied ahead and stood 1.46 per cent higher.

The Nifty 50 and Nifty Next50 stood out as the only gainers among the indices and inched up 0.22 per cent and 0.09 per cent respectively. 

Source : ABPLIVE AI

The Indian equity benchmark indices attempted to recover the losses from the previous trading session on Tuesday. The BSE Sensex climbed more than 300 points to trade near 75,700 as of 9:46 AM, while the NSE Nifty50 inched up nearly 67 points to stand at 22,895.80 in the session.

The broader markets witnessed major volatility in the session, with majority of the indices trading in the negative territory. The Nifty Microcap 250 index dominated the laggards and declined 3.33 per cent in the session so far. Meanwhile, the Nifty 50 and Nifty Next50 stood out as the only gainers among the indices and inched up 0.22 per cent and 0.09 per cent respectively. 

Sectorally, the Nifty Pharma index clocked the biggest hit in the session and plunged 2.46 per cent. On the other hand, the Nifty Financial Services index rallied ahead and stood 1.46 per cent higher.

Meanwhile, globally, tech stocks saw a bloodbath after the launch of a Chinese chatbot wiped out $1 trillion from the leading US tech index. The emergence of DeepSeek from China, seen as a competitor to ChatGPT and OpenAI, made investors question their fath in the US artificial intelligence boom. The Chinese AI seemed to deliver the same performance as its Western peers, however, with fewer resources.

The Indian rupee depreciated 26 paise to touch 86.57 against the US dollar in early trade on Tuesday, weighed down by unabated dollar demand from oil importers and a muted risk appetite.

Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, noted, "The Indian rupee fell this morning as risk aversion was the name of the game. FPIs continued their selling of Indian equities while buying dollars taking rupee from 86.20 to 86.45. On Tuesday also it looks like they will continue to buy US dollars and ensure a range of 86.20/50".

The global oil benchmark, Brent crude, inched 0.06 per cent higher to reach $77.13 per barrel in futures trade. The foreign institutional investors (FIIs) dumped Indian equities worth Rs 5,015.46 crore in the capital markets on net basis on Monday, according to exchange data.