Sensex soars nearly 1,600 points, Nifty above 23,300 as financial, auto, realty stocks jump

Indian stock markets saw a sharp rally on Tuesday, with both benchmark indices closing over 2% higher. The rally was led by banking, automotive, and realty stocks, supported by strong global cues and optimism surrounding tariff relaxations.

The S&P BSE Sensex climbed 1,577.63 points or 2.10% to settle at 76,734.89, while the NSE Nifty50 jumped 500 points or 2.19% to close at 23,328.55. It was a broad-based rally with all sectoral indices ending in the green, reflecting positive sentiment across the board.

IndusInd Bank emerged as the top gainer on the Sensex, ending the day with a remarkable 6.84% rise. Tata Motors and Larsen & Toubro followed closely with 4.50% gains each, while Axis Bank and Adani Ports also performed strongly, adding over 4% each. On the flip side, only a couple of stocks declined — ITC dropped 0.36%, and Hindustan Unilever slipped 0.28%.

Sectorally, Nifty Realty led the charge with a 5.78% rally, followed by Nifty Auto, which gained 3.43%. The metals, banking, and financial services sectors also posted strong performances, with Nifty Metal up 3.31% and Nifty Financial Services adding 3.39%. Private and PSU banks were also buoyant, gaining nearly 3% and 1.85% respectively.

Other sectors also joined the bullish momentum — Nifty Media jumped nearly 3%, Pharma and Healthcare indices rose around 2%, and even technology stocks chipped in with a 1.80% gain. Consumer Durables, Oil & Gas, and FMCG showed modest but positive movement.

Broader markets mirrored the upbeat sentiment as Nifty Smallcap100 gained 3.10% and Nifty Midcap100 rose 3.00%. Meanwhile, market volatility saw a significant drop, with India VIX tumbling over 20%, signaling reduced investor anxiety.

Experts noted that the index is now approaching a resistance zone between 23,440 and 23,500, with strong support at 23,050. Analysts recommend a stock-specific approach with disciplined risk management as the rally sustains.