Stock Market: Sensex Climbs 456 Points, Nifty Settles At 18,070; Metal Index Up 1.3 Per Cent

Stock update: Bajaj Finserve, IndusInd Bank, Bharti Airtel, Titan, and Bajaj Finance were the main gainers. HDFC Bank, HDFC, Power Grid, L&T, ITC, RIL, SBI, and Infosys also closed in the green zone

The broader markets have underperformed as the benchmarks rising up to 0.2 per cent.

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Sensex and Nifty, the two key equity benchmarks, on Tuesday rose 0.75 per cent amid a broad-based rally. The two domestic indices scored well, especially Nifty climbed over 133 points to close above the key 18,000-mark for the first time since April, as foreign institutional investors continued to be bullish on the domestic market.

The markets continued its rally for the fourth straight session.

The 30-share Sensex jumped 455 points to close at 60,571, while the broader NSE Nifty rose 133 points to end at 18,070. Previously, the Nifty had closed above the 18,000-mark on April 4 this year.

On the 30-share Sensex platform, Bajaj Finserve, IndusInd Bank, Bharti Airtel, Titan, and Bajaj Finance were the main gainers. HDFC Bank, HDFC, Power Grid, L&T, ITC, Reliance, SBI, and Infosys also closed in the green zone. On the flip side, TCS was the prime loser, declining 0.37 per cent.

Analysts said the market rally was primarily driven by Foreign Institutional Investors (FIIs) who have turned net buyers of domestic equities. Retail investor participation also added to the momentum. FIIs continued to invest in domestic equities, mainly in financial and FMCG shares.

According to BSE data, FIIs pumped in Rs 2,049.65 crore into the domestic equities on Monday. On the other hand, gains in global equities also supported the local markets.

The broader markets have underperformed as the benchmarks rising up to 0.2 per cent.

Sector-wise, the gains were led by the Nifty Metal index (up 1.3 per cent), the Nifty Financial Services index (up 0.9 per cent), and the Nifty Bank index (up 0.71 per cent).

In the previous session on Monday, the Sensex closed higher by 321 points at a three-week high of 60,115. The Nifty, too, had ended in the positive territory, rising 103 points to close at 17,936.

In Asia, the Shanghai Composite Index gained nearly 0.1 per cent, Japan's Nikkei 225 advanced 0.3 per cent and South Korea's key Kospi index jumped 2.7 per cent. However, Hong Kong's benchmark Hang Seng index declined 0.2 per cent.

Brent crude rose to $95.15 per barrel in London.

Meanwhile, the rupee appreciated by 36 paise to close at 79.17 (provisional) against the US dollar on Tuesday, tracking the dollar's decline versus its major peers and foreign fund inflows. At the interbank forex market, the local unit opened at 79.30 against the greenback. It witnessed an intra-day high of 79.03 and a low of 79.33 during the session. The Indian currency finally ended at 79.17, up 36 paise from its previous close of 79.53.