Indian Stock Markets Rebound With Gains After Two Days Of Decline

Indian stock markets saw a positive trend on Tuesday, recovering after two consecutive days of losses, amid mixed global signals.

At the closing bell, the BSE Sensex surged by 592.19 points, or 0.79%, settling at 75,958.36. The Nifty50 also climbed by 142.90 points, or 0.63%, to finish the day at 22,972.05.

Out of the 30 stocks on the BSE Sensex, 21 were in the green, with Axis Bank leading the charge, up by 3.96%. Other major gainers included HDFC Bank, ICICI Bank, Bajaj Finance, and Tata Steel.

The only major loser was Sun Pharma, which saw a decline of 4.84%, along with stocks like NTPC, Power Grid Corp, Larsen & Toubro, and Nestle India.

On the Nifty50, 27 stocks traded higher, with Axis Bank again posting the largest gain of 3.96%.

Other key winners included HDFC Bank, ICICI Bank, Bajaj Finance, and Shriram Finance.

On the downside, Sun Pharma experienced the biggest loss, down 4.75%, followed by declines in NTPC, BEL, Dr Reddy’s, and Power Grid Corporation.

Stock Markets: Frontline Index Gains; Broader Markets Struggle

Market experts noted that while selling continued in the broader markets, the Frontline Index, led by Banking and Auto stocks, saw growth.

Aditya Gaggar, director of Progressive Shares stated, “Mid and Smallcap stocks recovered most of their losses during the day, however, couldn’t sustain at higher levels.”

Sector-wise, the Nifty Financial Services index led the performance, rising by 2.17%, followed by Nifty Bank with a gain of 2.08%.

Other sectors showing strong growth included Private Banks (up 2.01%), Realty (up 1.87%), PSU Banks (up 1.42%), and Auto (up 1.13%). The Nifty IT index also saw a modest rise of 0.13%.

However, the Pharma and Healthcare sectors faced significant losses, with the Nifty Pharma index falling by 2.62%, and the Nifty Healthcare index dropping by 2.30%.

Other sectors such as Consumer Durables, FMCG, Metal, and Oil also saw minor declines.

In the broader markets, the BSE SmallCap index fell by 2.19%, while the BSE MidCap index dropped by 0.51%.

This positive movement follows the sharp declines on 27 January, when both the Sensex and Nifty50 ended lower, with the Sensex losing 824 points and the Nifty50 falling by 263 points, marking the lowest closing levels for both indices since 6 June of last year.

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