Synopsis : Indian markets traded firmly higher as strong buying in PSU banks and heavyweight lenders lifted benchmark indices, even as IT and chemical stocks remained under pressure. Investors stayed cautious on export-oriented sectors amid concerns over potential U.S. tariff actions.
Indian equity benchmarks opened on a strong footing on Tuesday, supported by gains in index heavyweights such as Reliance Industries and leading private sector banks, including HDFC Bank and Axis Bank. The positive momentum helped offset weakness in IT and chemical stocks, which continued to face selling pressure.
Around 10:00 AM, the BSE Sensex was trading at 83,147, up 333 points or 0.40 per cent, after touching an intraday high of 83,486 earlier in the session. Meanwhile, the NSE Nifty 50 index tested a high of 25,771 and was trading at 25,671, higher by 100 points or 0.39 per cent.
Sectoral Performance
The rally was led by PSU bank stocks, with the Nifty PSU Bank index rising over 1.6 per cent. Auto, banking, financial services, FMCG, pharma, realty, and oil & gas indices were also trading in the green, reflecting broad-based buying interest.
On the downside, the Nifty IT index declined around 1.5 per cent, while the Nifty Chemical index slipped 1.8 per cent, emerging as the top laggards among sectoral indices.
Stock-Specific Action
Among Sensex constituents, Adani Ports surged about 3 per cent. Axis Bank, Kotak Mahindra Bank, HDFC Bank, Mahindra & Mahindra, ICICI Bank, and SBI gained between 1 and 2 per cent each, lending strong support to the benchmarks. In contrast, IT majors led by Infosys were trading with a negative bias.
Broader Markets Mixed
The broader market showed mixed trends. The BSE MidCap 150 index slipped 0.5 per cent, while the SmallCap 250 index edged up 0.29 per cent, indicating selective buying in smaller stocks.
Outlook
Market participants remain watchful of developments related to U.S. tariffs, as analysts warn that export-oriented sectors such as textiles, pharmaceuticals, gems and jewellery, and machinery could face headwinds if trade tensions intensify. For now, strength in banking and financial stocks is helping cushion the benchmarks.
Disclaimer : This article is for informational purposes only and does not constitute investment advice. Readers should consult their financial advisors before making any investment decisions.
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