Mumbai— Indian stock markets extended their rally for the sixth consecutive session on Tuesday, driven by strong gains in FMCG and private banking stocks.
The Sensex opened sharply higher, up 320 points at 79,728, but briefly slipped into negative territory, hitting a low of 79,253 following steep losses in U.S. markets overnight. However, the index rebounded and stayed positive for the rest of the day, reaching an intraday high of 79,824 before closing at 79,596, up 187 points or 0.24%.
With this, the Sensex has surged 5,749 points or 7.8% over the past six trading sessions, signaling strong domestic market momentum.
The Nifty followed a similar pattern, dipping early to 24,072 before rallying to an intraday high of 24,243. It ended the day at 24,167, up 42 points or 0.2%. The Nifty has gained 1,768 points or 7.9% across the six-day streak.
Tuesday also marked a milestone for the NSE as it celebrated its 29th anniversary.
Market experts attribute the rally to steady buying in key sectors like FMCG and banking. “For Nifty, the highest open interest on the call side is at 25,500 and 24,200, while on the put side, it’s concentrated at 24,000 and 23,000,” said Sundar Kewat of Ashika Institutional Equity, noting that the Put-Call Ratio (PCR) at 1.05 reflects a mildly bullish sentiment.
Bank Nifty led the rally, surging after the Reserve Bank of India announced it would ease Liquidity Coverage Ratio (LCR) norms starting April 2026. Other sectors, including Realty, Consumer Durables, and FMCG, also posted gains, while IT was the only sector to close in the red.
Globally, U.S. markets remained under pressure due to continued selling, Kewat added. (Source: IANS)
