
Equity benchmark indices climbed for the second consecutive session on Tuesday, driven by gains in auto stocks and Reliance Industries amid positive global sentiment. The Sensex rose 468.81 points (0.58%) to 81,742.56, while the Nifty gained 129.65 points (0.52%) to close at 25,006.60. Top gainers included Tata Motors, Reliance Industries, Adani Ports and SEZ, Bajaj Auto, and ETERNAL, with increases up to 4%.
Key market drivers were:
- Auto shares jumped up to 6%, led by Ola Electric, Bajaj Auto, Hero MotoCorp, and others, boosted by reports of a possible GST cut on vehicles and China’s assurance to address rare earth magnet supply concerns.
- Reliance surged over 2% following Jio’s prepaid tariff changes and positive brokerage recommendations.
- Asian markets showed strength, with Shanghai and Hong Kong posting gains.
- Optimism grew over potential Russia-Ukraine peace talks, while PM Modi called for a peaceful resolution with Putin.
- Brent crude prices dipped, lowering India’s import costs.
- FIIs bought equities worth Rs 550.85 crore.
- Investors remain cautious ahead of the US Fed’s Jackson Hole symposium.
- The rupee strengthened to 87.20 against the dollar, supported by domestic equity gains and easing geopolitical risks.