Zomato surges 7%, Nifty ends at 22,834; and Sensex jumps 1,131 Points as stock market gains big

The Indian stock market witnessed a strong rally on Tuesday, with both benchmark indices soaring over 1,100 points amid strong global cues and a broad-based surge across sectors. The BSE Sensex surged 1,131.31 points to settle at 75,301.26, while the NSE Nifty50 gained 325.55 points, closing at 22,834.30.

A significant factor in today’s bullish momentum was the sharp rise in financial, auto, and banking stocks, which fueled investor confidence. Notably, smallcap and midcap stocks also registered significant gains, making the rally widespread. Market volatility eased considerably, further strengthening the momentum on Dalal Street.

Among the top gainers on the Nifty50 were ICICI Bank, Mahindra & Mahindra (M&M), Shriram Finance, L&T, and Tata Motors. On the other hand, Bajaj Finserv, Bharti Airtel, Tech Mahindra, Reliance, and ITC were among the top losers. The Zomato stock also surged 7%, reflecting strong investor confidence in the company’s growth prospects.

Aditya Gaggar, Director at Progressive Shares, described the day as one dominated by bulls, noting that the Nifty index achieved a much-anticipated breakout. He pointed out that the next target for the index stands at 22,920, with 22,620 acting as a support level.

Meanwhile, Vinod Nair, Head of Research at Geojit Financial Services, highlighted that positive global trends and domestic earnings optimism played a crucial role in the day’s gains. He stated that improved retail sales data from the US and China boosted investor confidence, with mid- and small-cap stocks outperforming expectations. A decline in the dollar index and lower crude oil prices also contributed to the market’s strong performance.

Despite the rally, Nair cautioned that Foreign Institutional Investor (FII) outflows continue due to higher risk-free rates and geopolitical uncertainties. However, domestic investors remain optimistic, expecting further market strength in the coming sessions as global sentiment remains favorable.