Stock Market snapped four-day losing streak and ended higher on Tuesday.
Market staged a notable rebound in the trading session after witnessing four consecutive days of selling pressure. This had pushed both frontline indices to a seven-month low in the previous trading session.
At close, the Sensex was up 169.62 points or 0.22 per cent at 76,499.63, and the Nifty was up 90.10 points or 0.39 per cent at 23,176.05.
Rebound in markets was largely driven by gains in banking, auto, and metal stocks. Adani Group stocks ended higher, buoyed by speculative buzz around potential fundraising plans.
Nifty Metal emerged as the top gainer with a 4 per cent rise, followed by the Nifty PSU Bank, which gained 3.28 per cent.
Among the banking stocks, IOB emerged as the top gainer with an 18.3 per cent rise, followed by Central Bank, UCO Bank, Punjab & Sind Bank, and Bank of Maharashtra, all ending with gains of over 10 per cent.
Nifty Energy, Nifty Media, and Nifty Auto, ended the trade with gains ranging between 2 per cent and 3 per cent while on the flip side were the Nifty IT index by 1.89 per cent. Nifty FMCG index also concluded the session with a 1.35 per cent drop.
On BSE, over 200 stocks hit 52-week low. These included Cello World, Mahindra Life, Mahindra Holiday, Sterling Wilson, Asian Paints, Kansai Nerolac, Sanofi India, Balaji Amines, Relaxo Footwear, Elgi Equipments, MRF, Grindwell Norto, Delhivery, Adani Wilmar, AIA Engineering, LIC India, Capri Global, among others.
The rupee opened at 86.57 and touched the intra-day high of 86.45 before closing for the day at 86.62.
BSE Midcap index rose 2 per cent and smallcap index was up 1.7 per cent.
Among the individual performances, shares of Adani Enterprises registered a 7 per cent gain. Over the past year, the stock has seen a 52-week high of Rs 3743 and a low of Rs 2030.
All 11 Adani Group stocks ended the trading session with sharp gains on reports of fundraising plans.
Adani Power led the list with a gain of 20 per cent, settling at Rs 539.9 apiece, followed by Adani Green Energy and Adani Energy Solutions, which ended with gains of 13.5 per cent and 12.2 per cent, respectively.
Shares of Piramal Enterprises rose more than 7 per cent to Rs 1,022.
HCL Tech shares plunged 5 per cent after brokerages remained on the sidelines after industry major HCLTech’s Q3 earnings.
Shares of Angel One fell over 5 per cent to Rs 2,309 apiece after the company reported its smallest quarterly profit increase.
Anand Rathi Wealth declined by approximately 6 per cent following the release of its Q3 FY25 earnings report.