Stock market today: Dalal Street closed in green on Tuesday, marking a turning point from opening at a low. While Nifty50 ended the day above 23,123, Sensex jumped 500 points to over 74,616. At closing, Nifty50 was trading at 23,123.65 up 155.40 or 0.68%. BSE Sensex recovered to settle at 74,616.58, up by or +509.73 or 0.69%.This rise was similar to a sharp rebound (from opening to losing) in Monday’s session, when both Sensex and Nifty recovered strongly, erasing early losses triggered by rising crude oil prices as tensions continued to intensify in the Middle East. Traders attributed the rise to intense buying in banking and IT stocks, along with a strengthening rupee, that lifted investor’s confidence.Among the 30-share BSE Sensex pack, gains were led by Tata Consultancy Services, HCL Technologies, Infosys, Bharti Airtel, Sun Pharmaceutical Industries and Hindustan Unilever. On the other hand, InterGlobe Aviation, Adani Ports and Special Economic Zone, Mahindra & Mahindra and Titan Company ended as key laggards.Global oil prices eased, with Brent crude slipping 0.71 per cent to USD 109 per barrel. “Indian markets staged a sharp intra-day recovery, with Nifty reversing early losses to reclaim higher levels, driven largely by short-covering and selective sectoral strength rather than broad-based buying conviction,” Hariprasad K, Research Analyst and Founder at Livelong Wealth, said, as quoted by PTI.A major factor behind the rebound was the strong performance of IT stocks, which provided a defensive cushion to the broader market, he added.Across Asia, benchmarks in South Korea (Kospi), Japan (Nikkei 225) and China (SSE Composite) closed higher, while markets in Hong Kong remained shut due to a holiday.European equities were trading in the green, mirroring positive momentum from the United States, where markets had ended higher on Monday.According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 8,167.17 crore on Monday. In contrast, Domestic Institutional Investors (DIIs) were net buyers, purchasing shares worth Rs 8,088.70 crore.During the volatile session on Monday, the 30-share BSE Sensex surged 787.30 points, or 1.07%, to settle at 74,106.85. During intraday trade, it had jumped 887.91 points, or 1.21%, to touch 74,207.46. Market breadth remained firmly positive, with 3,207 stocks advancing, 1,147 declining and 190 remaining unchanged on the BSE.Rupee, however, stayed firm on Tuesday, closing at 93 per US dollar, falling from its previous close of 93.06 against the greenback.In global markets, oil prices climbed while equities showed a mixed trend as investors assessed Donald Trump’s latest deadline for Iran to reopen the strategic Strait of Hormuz or face being “decimated”.West Texas Intermediate rose 2.6% to $115.34 per barrel, and Brent North Sea crude gained 1.3% to $111.24 per barrel. Across Asia, Tokyo’s Nikkei 225 slipped 0.2% to 53,323.41 in early trade, while Shanghai’s Composite index rose 0.5% to 3,899.09. Hong Kong’s Hang Seng Index remained closed for a holiday.
Poll
What do you think caused the initial drop in stock indices today?
In the US, the Dow Jones Industrial Average ended 0.4% higher at 46,669.88, while London markets were closed for a holiday.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
