The Indian equity markets continued their six-session winning streak on Tuesday, driven by good performance in private banking and FMCG shares.
The Sensex started on a high note, surging by 320 points to begin the day at 79,728. It did fall into negative during a brief period, touching an intraday low of 79,253, under the weight of poor leads on Wall Street that damped investor sentiment.
Even after the initial slip, the benchmark index regained momentum soon and traded in the green for the rest of the session. It even rose to a high of 79,824 during the day before closing 187 points higher at 79,596, up 0.24 per cent.
With Tuesday's close, the Sensex has gained a whopping 5,749 points—representing a 7.8 per cent gain over six sessions—showing strong market momentum.
The Nifty also followed this movement. It slipped to 24,072 in the early morning but regained its strength sharply to hit a high of 24,243. At the end of the trade, it had risen by 42 points, or 0.2 per cent, to close at 24,167.
Tuesday's rally was particularly significant for the National Stock Exchange (NSE), which was celebrating its 29th anniversary on the same day.
The Nifty has risen 1,768 points over the last six trading days, reflecting a 7.9 percent gain—showing robust investor confidence in the face of turbulence from overseas markets.
Experts believe that steady buying in sectors such as FMCG and banking has been a major support for the ongoing rally.
"For Nifty, the highest open interest on the call side was observed at strike prices of 25,500 and 24,200, while it was peaking at 24,000 and 23,000 levels on the put side," Ashika Institutional Equity's Sundar Kewat stated.
He went on to clarify that the Put-Call Ratio (PCR) remained at 1.05, showing a mildly bullish sentiment.
Banking shares were the major gainers in the surge, with Bank Nifty topping the gains after the Reserve Bank of India announced to relax final Liquidity Coverage Ratio (LCR) requirements gradually by April 2026.
Other than banking, sectors such as Consumer Durables, Realty, and FMCG also witnessed significant upswings during the day.
On the losing side, only the IT sector closed in the red.
"Globally, US markets remained under pressure, weighed down by persistent selling," Kewat noted.
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