Indian equity markets closed sharply higher on Tuesday, with the Nifty rising 2.57% to 25,732.45 and the BSE Sensex gaining 2,072.67 points to 83,739.13. Other major indices, including Nifty Bank at 60,059.12, are up 2.46%. This is after US President Donald Trump announced easing tariffs on India. The markets heaved a sigh of relief, as the overhang was out of the way.
Sectoral indices also recorded gains. Nifty Financial Services rose 3.30% to 27,684.20, supported by strong banking and finance stock performance. Midcap stocks demonstrated resilience, with Nifty Midcap climbing 3.02% to 13,657.35.
Top Gainers
The leading gains came from Adani Enterprises which climbed 10.67% to close at 2,208.40 on heavy volumes. Adani Ports & Special Economic Zone followed with a 9.26% rise to 1,533.00, driven by strong demand in the logistics sector. Reliance Industries contributed to the positive trend with a 4.72% gain to 2,775.25, supported by investor confidence in energy and retail operations. Bajaj Finance rose 6.84% to 965.50, while InterGlobe Aviation advanced 5.52% to 4,945.50, reflecting renewed interest in travel and finance stocks.
Jio Financial Services increased 8.15% to 264.00, highlighting strength in digital financial services. Other notable performers included Tata Consultancy Services, which added 4.88% to 3,470.00, HDFC Bank up 4.65% to 1,790.00, Infosys with 4.50% to 1,625.00, and ICICI Bank gaining 4.28% to 940.15. Broad buying across IT, finance, and aviation sectors contributed to the market’s strong upward momentum.
Prashanth Tapse, Senior VP (Research), Mehta Equities said, “The market has been long awaiting the Indo-US trade deal announcement and the outcome fuelled a mega rally in benchmark and sectoral indices. With India also announcing an FTA deal with the EU last week, the twin trade deals have given a major boost to the markets. There is also a sigh of relief after the rupee recouped over 100 paise in a day, which may encourage renewed FII interest in local equities after witnessing continuous outflows over the past few months.”
Top Losers
On the downside, Tech Mahindra was the largest decliner, slipping 0.49% to 1,715.50 as investors booked profits after recent gains. Nestle India saw a minor fall of 0.03% to 1,307.90, reflecting limited trading interest in consumer staples. Bharat Electronics Limited edged down 0.01% to 439.05, with negligible impact on the overall market. Despite these declines, losses were marginal and did not significantly affect the broader indices.
Top Sector Performance
The financial services sector led the market, banking and finance stocks contributed significantly to this advance, driven by strong buying in HDFC Bank, ICICI Bank, and Bajaj Finance.