MUMBAI — Indian equity markets extended their winning streak for a fourth consecutive session on Tuesday, with late buying interest lifting benchmark indices higher by the close as investors awaited the Reserve Bank of India’s monetary policy decision.
The Sensex rose 507.73 points, or 0.69 percent, to end at 74,616.58, while the Nifty climbed 155.40 points, or 0.68 percent, to settle at 23,123.65.
Buying momentum strengthened toward the end of the session, helping markets maintain gains despite cautious sentiment earlier in the day.
Gains were led by information technology and metal stocks, with Wipro, Hindalco Industries, Tata Consultancy Services, and HCLTech among the top performers on the Nifty.
Investors remained focused on the outcome of the Reserve Bank of India’s Monetary Policy Committee meeting, scheduled for Wednesday. The central bank is widely expected to keep the repo rate unchanged, though market participants are closely watching for signals on the future policy path.
Analysts said the recent momentum could push the Nifty toward the 23,500–23,600 resistance range, a key hurdle due to heavy open interest concentration and previous highs.
“On the downside, 23,000 now acts as immediate support, followed by 22,800, while the 22,500–22,600 zone continues to remain a strong base backed by demand and put open interest build-up,” a market expert said.
In the broader market, performance was mixed. The Nifty MidCap index edged up 0.20 percent, while the Nifty SmallCap index slipped 0.06 percent.
Among sectoral indices, IT, realty, and metal stocks outperformed, reflecting targeted buying interest. In contrast, the PSU banking segment faced selling pressure, with the Nifty PSU Bank index emerging as the biggest laggard of the session.
Analysts said investor sentiment remained cautiously optimistic, with markets balancing global uncertainties and domestic policy expectations.
“The rebound from lower levels indicates that the market continues to find support near key zones, but the nature of the move suggests it was more tactical than structural,” an analyst said. (Source: IANS)
