Indian benchmark indices closed higher for the third consecutive day on Tuesday, with notable contributions from the real estate, FMCG, and IT sectors.
The Sensex ended up by 51.69 points, or 0.06%, finishing at 80,716, while the Nifty rose by 26.30 points, or 0.11%, to settle at 24,613.
Leading the gains on the Nifty were Coal India, BPCL, Hindustan Unilever (HUL), Tata Consumer Products, and Bharti Airtel, reflecting a broad-based rally across sectors.
The Realty index surged 1.6%, with FMCG, IT, Metal, and Telecom sectors also showing positive movements, each up between 0.3% and 0.9%.
Despite these gains, market analysts noted that the domestic indices struggled to maintain their initial momentum due to investor concerns about current valuations and tempered expectations for Q1 FY25 earnings.
As the earnings season kicks off this week, investors are likely to adopt a cautious stance, seeking a comprehensive view of sector performance.
The Indian rupee remained stable, trading around 83.58, as market participants await the upcoming budget announcement.
Analysts suggest that traders are likely to refrain from establishing new positions until the budget is unveile, which is likely to provide clearer insights into the economic landscape.
Indian indices maintain positive momentum, driven by optimistic expectations for the upcoming budget, strong foreign institutional investor (FII) inflows, and better-than-expected results from the IT sector.
As the market braces for pivotal developments, investors remain focused on strategic positioning ahead of the budget release next week.
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