Mumbai, March 24: Following a significant drop on Monday, the Indian stock market experienced a robust recovery on Tuesday, with major domestic benchmarks Nifty and Sensex rising by over 1.5 percent.
Support from auto and banking stocks helped the market, as both benchmarks closed near their highest levels of the day. Investor sentiment improved amid hopes of easing tensions in the U.S.-Iran conflict, despite conflicting statements from both sides.
At market close, the NSE Nifty50 was up by 399.75 points or 1.78 percent, reaching 22,912.40, while the BSE Sensex surged by 1.89 percent or 1,372.06 points to close at 74,068.45.
During intra-day trading, the Sensex opened at 74,212.47 and peaked at 74,489.39, while the Nifty50 opened at 22,878.45 and touched a high of 23,057.30.
Broader markets outperformed the benchmark indices, with the Nifty Midcap index rising by 2.60 percent and the Nifty Smallcap index gaining 2.63 percent.
Sector-wise, the auto sector recorded a growth of 2.43 percent. The Nifty Media sector saw a rise of 3.45 percent, while the Nifty Bank sector increased by 2.27 percent. Additionally, the Nifty IT index rose by 1.72 percent and the Nifty FMCG index by 1.25 percent.
Among the Nifty50 stocks, Indigo and L&T saw the highest gains, rising by 5.49 percent and 5.17 percent, respectively. Other notable performers included Bajaj Finance, Eternal, Asian Paints, and Apollo Hospitals, while Coal India, Powergrid, Sun Pharma, and Cipla experienced declines.
This surge in the market resulted in an increase of ₹7.74 lakh crore in the total market capitalization of BSE-listed companies, bringing it up from ₹415.11 lakh crore on Monday to ₹422.85 lakh crore. This translates to a profit of nearly ₹8 lakh crore for investors in just one day.
– DBP
Agency
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
