Stock Market Today: Sensex Climbs Over 200 Points, Nifty Nears 24,500

Indian benchmark equity indices opened higher on Tuesday, supported by positive global cues, easing concerns over crude oil prices and improving investor sentiment.

Renewed buying by foreign portfolio investors (FPIs) also boosted market confidence, while IT and banking stocks led the early gains.

The BSE Sensex rose more than 200 points, or 0.27 per cent, to touch an intraday high of 78,504, while the NSE Nifty gained around 60 points, or 0.23 per cent, to trade near 24,488 during early deals.

Among sectoral indices, Nifty IT emerged as the top performer, advancing 1.28 per cent, followed by Nifty PSU Bank, which gained 0.45 per cent.

Banking and financial stocks remained in focus as investors responded positively to improving domestic and global market conditions.

Selling pressure persisted in select sectors. Nifty Metal declined 0.86 per cent to become the worst-performing index, while Nifty Media, Chemicals and FMCG also traded lower.

Among individual stocks, Trent plunged 8.81 per cent, making it the biggest loser, followed by Bharat Electronics (BEL), Larsen & Toubro (L&T), InterGlobe Aviation (IndiGo) and Coal India.

Market analysts said investor sentiment has improved as easing crude oil prices and renewed FPI buying boosted confidence in Indian equities.

Technical indicators also remained positive, with the Nifty trading above its 200-day exponential moving average (EMA) for the first time since February.

Analysts expect immediate resistance at 24,600, while the 24,400-24,300 zone is likely to offer near-term support.

Brent crude traded at around $72.77 per barrel, while US West Texas Intermediate (WTI) crude stood at approximately $69.32 per barrel, remaining below recent highs and supporting market sentiment.

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