The broader market outperformed the benchmark indices. The Nifty Midcap 100 index gained 0.54 per cent and touched a fresh all-time high, reflecting continued strength and strong participation in the broader market. In contrast, the Nifty Small cap 100 index ended marginally lower.
Mumbai : The Indian benchmark indices ended modestly higher on Tuesday, recovering from intraday lows as a sharp retreat in energy prices improved sentiment and triggered short covering on the monthly derivatives expiry.
The Sensex rose 287 points to 77,656 and the Nifty gained 116 points to 24,335. The market ended its first monthly series with the Closing Auction Session on a positive note, with the Nifty gaining 1.5 per cent in the August series.
On the sectoral front, Consumer Durables, Infrastructure, IT, Media, Pharma, and PSU Banks emerged as the key gainers, supported by broad-based buying interest. On the downside, Energy, Metal, and Private Banks witnessed selling pressure and remained the key laggards.
The broader market outperformed the benchmark indices. The Nifty Midcap 100 index gained 0.54 per cent and touched a fresh all-time high, reflecting continued strength and strong participation in the broader market. In contrast, the Nifty Small cap 100 index ended marginally lower.
More than 35 Nifty stocks closed higher, with Adani Enterprises and Max Health among the top gainers. However, market breadth favoured declines, with the advance-decline ratio at 4:5. The Nifty Bank slipped 12 points to 57,514.
On the geopolitical front, the U.S. announced fresh sanctions targeting Iran and its trading partners as Washington stepped up economic pressure on Tehran in an effort to isolate the country and push for the reopening of the Strait of Hormuz. Energy prices, however, fell sharply in the second half of the session as the measures proved less severe than markets had anticipated. WTI crude dropped more than 3 per cent to trade near $82 a barrel, while domestic crude futures retreated toward ₹7,850.
“The pullback in oil offered some near-term relief for Indian assets, though the energy outlook remains closely tied to developments in the Middle East, leaving markets susceptible to headline-driven volatility,” said Ponmudi R, CEO of Enrich Money.
Meanwhile the rupee appreciated 34 paise to close at 95.41 as heavy dollar selling by the RBI and falling crude oil prices breathed a fresh life into the domestic unit.
