Mumbai’s stock market closed in positive territory on Tuesday, fueled by optimism surrounding the India-EU trade agreement. The BSE Sensex surged 319.78 points, or 0.39%, to settle at 81,857.48, while the Nifty 50 climbed 126.75 points, or 0.51%, ending at 25,175.40.
Metal and banking stocks led the charge, driving key indices higher. The Nifty Metal index jumped 3.07%, Nifty PSU Bank rose 1.76%, Nifty Commodities gained 1.70%, Nifty India Defence advanced 1.53%, Nifty PSE increased 1.21%, and Nifty Financial Services was up 0.88%.
However, not all sectors shared the enthusiasm. The Nifty Media index fell 1.44%, Nifty Auto dropped 0.93%, Nifty FMCG declined 0.60%, and Nifty Consumer Durables slipped 0.59%.
Broad-based strength was evident across market caps. The Nifty Midcap 100 index rose 338 points, or 0.59%, to 57,483.65, and the Nifty Smallcap 100 gained 66.60 points, or 0.41%, closing at 16,419.35.
In the Sensex pack, gainers included Adani Ports, Axis Bank, Tata Steel, Tech Mahindra, NTPC, SBI, UltraTech Cement, BEL, ICICI Bank, Indigo, L&T, HDFC Bank, Trent, Infosys, and HCL Tech. Losers were M&M, Kotak Mahindra Bank, Asian Paints, Eternal, Maruti Suzuki, ITC, Bajaj Finserv, Bajaj Finance, Titan, HUL, and Bharti Airtel.
Market experts attributed the day’s volatility to initial jitters, but the India-EU trade deal provided a significant sentiment booster. Concerns over rising competition weighed on auto and beverage stocks.
The session started weakly, with Sensex opening down 100.91 points at 81,436.79, while Nifty began marginally higher at 25,063.35 before facing further pressure. Investors now eye the US Fed’s interest rate decision and the upcoming budget for future cues.