3 hrs ago
Sensex Surges 685 Points as Nifty Reclaims 22,750 Ahead of RBI Policy
Indian stocks finished higher on Tuesday.
The Sensex and Nifty both rose, and the Nifty ended above 22,750.
Investors bought shares in medicine makers, banks, chemical companies, and oil and gas businesses.
Shares of smaller and medium-sized companies also went up.
Technology stocks were weaker as some investors sold shares to take profits.
Lower crude oil prices gave the market some support.
Investors were waiting for the Reserve Bank of India to announce its policy decision.
Analysts said the Nifty may move toward 23,000 if it stays above 22,800.
They also identified 22,600 and 22,500 as possible support levels, while warning that global uncertainty could still affect markets.
The Sensex rose 685.34 points (0.95%) to close at 73,067.81 on Tuesday, while the Nifty gained 220.35 points (0.98%) to 22,776.10.
Buying in pharma, chemical, private banking, and oil and gas stocks helped lift the benchmarks; lower crude prices also supported sentiment.
The Nifty MidCap index rose 1.08% and the SmallCap index gained 1.56%; the Pharma index led sectors, while IT was the biggest laggard.
Investors awaited the Reserve Bank of India’s policy decision and signals on interest rates, liquidity, inflation, and economic growth.
Analysts said a sustained move above 22,800 could open a path toward 23,000, with support around 22,600 and 22,500; they also cited lingering global risks.
- Who
- Indian equity investors and the Sensex and Nifty benchmark indices.
- What
- The Sensex and Nifty rose sharply, with the Nifty reclaiming 22,750.
- Where
- Indian equity markets; the reports identify Mumbai.
- When
- Tuesday, ahead of the Reserve Bank of India policy outcome.
- Why
- Buying in pharma, private banking, chemical, and oil and gas stocks, along with lower crude prices, supported the rally as investors awaited the RBI decision.
Constructive outlook
Risks and caution
Near-term market direction
Constructive outlook
Analysts described the near-term bias as cautiously constructive, citing the recovery, improving momentum indicators, and moderating selling pressure.
Risks and caution
Analysts said the Nifty needs to clear 22,800 decisively, and global uncertainties and macro risks could threaten the rebound.
Factors supporting shares
Constructive outlook
Buying in several sectors and lower crude prices supported the market and eased concerns over inflation and external balances.
Risks and caution
The sustainability of the rally remained uncertain ahead of the RBI policy signals and amid lingering global uncertainty.
Key facts
- Sensex close
- 73,067.81, up 685.34 points (0.95%).
- Nifty close
- 22,776.10, up 220.35 points (0.98%).
- Broader markets
- Nifty MidCap rose 1.08%; Nifty SmallCap gained 1.56%.
- Sector performance
- Nifty Pharma was the strongest sectoral index, followed by Nifty Chemical; Nifty IT was the biggest laggard.
- Notable gainers
- Trent, BSE, and Kotak Mahindra Bank were named among the top Nifty gainers.
- Technical levels
- Analysts cited 22,800 as an upside threshold, with support around 22,600 and 22,500 and a possible move toward 23,000.
- Market focus
- The RBI policy decision and its signals on rates, liquidity, inflation, and economic growth.
- Other factors
- Lower crude prices supported sentiment; global uncertainties remained a risk.
Quotes
A market watcher
A market watcher commenting on Nifty’s technical outlook
“On the downside, immediate support is placed around 22,600, followed by 22,500. The RSI has moved into the mid-30s, pointing to a gradual improvement in momentum, while the MACD histogram has eased further from its negative reading, suggesting that selling pressure is moderating.”
thestatesman.com
thehansindia.com
“The near-term market bias therefore remains cautiously constructive. The decline in crude prices has provided a meaningful tailwind and helped benchmarks recover for a second straight session, but the rebound still faces several macro risks.”
thehansindia.com
Sources
Related news
Sensex, Nifty Rise as Investors Await RBI Policy Decision
Sensex and Nifty rebound as FMCG, realty, PSU banks lead
Sensex Jumps 564 Points as Nifty Clears 23,400
Sensex Rises 473 Points as Nifty Reclaims 22,500
Indian Stocks Rally as FMCG, Banking Shares Lead Gains
Sensex Ends Four-Day Slide as Global Equities Advance
Trent, Kotak, Sugar Stocks and Meesho Lead Midday Moves
Sensex, Nifty Rise as Bank and Reliance Shares Gain
Trent Hits Upper Circuit After Q2 Update; HSBC Sees Upside
Trent Hits Upper Circuit After Strong Q2 Business Update
