The Sensex and Nifty closed at their highest levels of the day, extending their winning streak for a second consecutive session, ahead of the highly anticipated Federal Open Market Committee’s interest rate decision on Wednesday. At the close, the Sensex surged 631 points, or 0.83 per cent, to reach 76,532, while the Nifty gained 206 points, or 0.9 per cent, to settle at 23,163. On the NSE, 2,152 stocks advanced, while 406 stocks closed lower.
Zomato, Tata Motors, Infosys, Ultratech Cement and Tech M were the top gainers on the BSE Sensex. On the other hand, ITC Hotels, Bharti Airtel, Maruti Suzuki, Asian Paints, and ITC were the biggest losers.
Nifty Bank continued its upward momentum, building on a 1.7 per cent gain from the previous session with an additional 0.6 per cent rise, following the Reserve Bank of India’s (RBI) announcement of measures to inject liquidity into the banking system. These steps, including bond purchases and dollar/rupee swaps, are viewed by analysts and traders as potential signals of an interest rate cut in the coming month. The RBI’s actions, expected to inject $17.39 billion into the system, come after months of liquidity strain that had pushed up overnight and short-term lending rates.
The Nifty IT index broke its two-day losing streak, rising 2.5 per cent as global tech stocks made a strong recovery. A sharp rebound in Nvidia and AI-linked shares boosted the Nasdaq by 2 per cent overnight, with Nvidia alone recovering 9 per cent after its historic $593 billion single-session loss. Apple also surged nearly 4 per cent as investors geared up for earnings reports from major tech companies this week.
Technology stocks led the gains across the Asia-Pacific region today, mirroring the advances on Wall Street, as investor concerns eased over the emergence of DeepSeek, a low-cost Chinese AI model that some believe could challenge US dominance in the industry.
Broader Market
The broader market outperformed the benchmarks, with both the BSE Smallcap and BSE Midcap indices ending their three-day losing streaks and rising by 3 per cent each.
