Sensex climbs nearly 390 points, Nifty tops 23,200 as realty and financial stocks lead gains

Indian benchmark indices traded higher on Tuesday morning, supported by gains in realty, financial and auto stocks, as investors assessed the evolving geopolitical situation in West Asia and the status of the ceasefire between the US and Iran. 

At 9:30 a.m., the BSE Sensex was up 389.24 points, or 0.53%, at 73,913.50, while the NSE Nifty50 gained 115.80 points, or 0.50%, to 23,238.80. 

Among Nifty50 constituents, Trent, InterGlobe Aviation, and Grasim Industries emerged as the top gainers, whereas NTPC, Tata Steel, and Infosys were among the biggest losers. 

The broader market remained upbeat, with the Nifty MidCap and Nifty SmallCap indices advancing 0.83% and 0.63%, respectively. 

Sectors at a glance 

On the sectoral front, Nifty Realty, Nifty Financial Services and Nifty Bank outperformed the broader market. In contrast, Nifty IT traded in the red, making it the worst-performing sectoral index. 

According to Bajaj Broking, Wall Street ended Monday's session on a mixed note, with technology and growth stocks rebounding and recovering part of their recent losses, while traditional cyclical sectors underperformed. The brokerage noted that US markets regained some ground as investors bought into the recent dip, particularly in technology stocks. Semiconductor and artificial intelligence-related shares led the recovery, helping stabilise broader indices after last week's weaker-than-expected jobs data rattled sentiment.

On Monday, Indian equities ended sharply lower, with the BSE Sensex tumbling 719 points, or 0.97%, to close at 73,524.26 while the NSE Nifty50 declined 243 points, or 1.04%, to settle at 23,123, its lowest closing level in nearly two months. 

Investor sentiment remained sensitive to developments in West Asia. Iran halted its strikes on Israel but warned that military action could resume if Israel continued operations in Lebanon. Market participants were also closely monitoring uncertainties surrounding the ceasefire between the US and Iran.

Rupee gains 20 paise

Meanwhile, the rupee appreciated 20 paise to 95.41 against the US dollar in early trade on Tuesday, supported by a pullback in Brent crude oil prices and the dollar index following a pause in hostilities between the US and Iran.

Forex traders said the domestic currency opened on a stronger note after Israel and Iran signalled a de-escalation in tensions and eased military strikes.

At the interbank foreign exchange market, the rupee opened at 95.47 against the greenback and strengthened further to 95.41, marking a gain of 20 paise from its previous close. The Indian currency had settled 43 paise lower at 95.61 against the US dollar on Monday.