The Indian stock market closed in green on Tuesday as investors set their eyes on the closely-contested US presidential election.
At the end of trading, buying was seen in all sectors, except FMCG and media.
The Sensex closed up 694.39 points or 0.88 per cent.
On the other hand, NSE's Nifty closed at 24,213.30 after rising 217.95 points or 0.91 per cent. The Nifty Bank rose 992 points or 1.94 per cent to 52,207.25. Nifty Midcap 100 index closed at 56,115.45 at the end of trading after rising 330.90 points or 0.59 per cent. The Nifty Smallcap 100 index closed at 18,503.45 after gaining 78.80 points or 0.43 per cent.
Buying was seen in the auto, IT, PSU banks, financial services, pharma, metals, and realty sectors of the Nifty. JSW Steel, Tata Steel, Axis Bank, IndusInd Bank, HDFC Bank, SBI, Kotak Bank, ICICI Bank, Bajaj Finance, and Tata Motors were the top gainers in the Sensex pack. At the same time, ITC, Bharti Airtel, Asian Paints, L&T, and Sun Pharma were the top losers.
The market trend remained positive. On the BSE, 2,476 shares were trading in green, 1,473 shares in red, while there was no change in 109 shares.
According to market experts, the domestic market experienced a sharp recovery, reclaiming most of the previous day’s losses amid uncertainty surrounding the likely downgrade in Q2 GDP forecast and the closely contested US presidential election.
Meanwhile, the Indian rupee closed stable at 84.10 per dollar.
Regarding the rupee, experts said that market participants are closely monitoring FII activity, as any significant buying or selling can affect the movement of the rupee along with the results of the US election.
According to Vikram Kasat from Prabhudas Lilladher, Indian markets made a strong recovery today, shaking off early losses despite uncertainties tied to the upcoming US presidential election.
"Meanwhile, a softer dollar and cautious sentiment dominated markets as investors awaited clarity from the US election," he said.
IndusInd Bank CEO Kathpalia quits due to derivatives accounting lapse
IndusInd Bank announced on Tuesday that its Managing Director and CEO Sumant Kathpalia has resigned from his post in connections with the derivatives accounting lapse that has eroded the private sector bank's net worth.
Sensex closes in green during volatile trade, Nifty ends at 24,336
Sensex opened on a positive note of almost 180 points at 80,396 and surged to an intra-day high of 80,661. However, the index quickly erased its gains, dipping into the negative zone and reaching a low of 80,122, which was 539 points down from its highest point of the day.
Indian stock market rebounds with strong gains, Sensex jumps 1,006 points
The Indian stock market bounced back strongly on Monday despite geo-political tensions, with the benchmark indices ending the day on a robust note.
India-Pakistan tensions: History shows Sensex bounced back stronger after every conflict
Even as tensions between India and Pakistan rise once again following the barbaric Pahalgam terror attack, Indian stock markets have showcased resilience every time the two neighbouring nations went into conflict.
Indian stock market opens higher, Sensex above 80,000
The Indian equity benchmark indices opened higher on Friday amid positive global cues, as buying was seen in the IT, pharma and auto sectors in the early trade.
Adani’s cement major ACC clocks highest-ever annual PAT at Rs 2,402 crore in FY25
Leading cement and building materials company ACC Limited on Thursday reported highest-ever annual profit after tax (PAT) at Rs 2,402 crore in FY25, up by 3 per cent.
Sensex, Nifty extend winning streak for sixth day, rise nearly 8 pc in 6 sessions
The Indian stock market continued its upward journey for the sixth straight trading session on Tuesday, supported by gains in fast-moving consumer goods (FMCG) and private banking stocks.