Sensex zooms 1,225 points, Nifty rallies 370 points to hit 2-month high
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Benchmark indices extended their rally for a fourth consecutive session on Tuesday, with the Sensex and Nifty surging more than 1.5% each to close at their highest levels in two months.
The BSE Sensex jumped 1,225.07 points, or 1.62%, to settle at 76,917.85, while the NSE Nifty 50 rallied 370.05 points, or 1.58%, to end at 23,810.85. The Nifty reclaimed the 23,800 mark during the session.
The latest gains took the Nifty's four-session advance to nearly 5%, marking its biggest four-day rally in seven months.
The buying was broad-based, with the Nifty Midcap 100 rising 1.06% to 58,596.25. The Nifty Bank index gained 0.98% to close at 55,540.05, while the Nifty Smallcap 100 advanced 0.31% to 18,652.85.
FMCG, auto and realty stocks lead sectoral gains
Among sectoral indices, the Nifty FMCG index was the top performer, rising 3.65%. The Nifty Realty index gained 2.33%, while the Nifty Auto index advanced 1.71%.
The Nifty IT index rose 0.34%, while the Nifty Pharma index gained 0.42%. The Nifty Metal index was among the few sectoral indices to end lower, declining 0.14%. The Nifty PSU Bank index fell 1.27%.
HDFC Bank was among the key contributors to the benchmark rally, gaining 3.64%. Other major gainers included Nestle India , which rose 4.47%, Tata Consumer Products (4.29%), Asian Paints (3.99%) and Bharti Airtel (3.77%).
BSE shares advanced 5.03%, while Eicher Motors gained 3.15% and ITC rose 2.82%.
On the other hand, Power Grid Corporation was the biggest Nifty loser, falling 3.04%, followed by State Bank of India , which declined 1.70%. ONGC, Adani Enterprises and Tata Steel also ended lower.
The market rally came as buying interest strengthened across several heavyweight stocks, with FMCG and banking shares lending support to the benchmarks.