Indian stock market closed in the green for the fourth consecutive day, Sensex jumped 509 points!

The Indian stock market closed in the green in Tuesday’s trading session. At the end of the day, Sensex was at 74,616.58, up 509.73 points or 0.69 per cent, and Nifty was at 23,123.65, up 155.40 points or 0.68 per cent.

The market rise was led by IT stocks. Nifty IT index was the top gainer among the indices with a gain of 2.5 per cent. Apart from this, Nifty Realty, Nifty Metal, Nifty Defence, Nifty FMCG, Nifty Services, Nifty Commodities, Nifty PSE, Nifty Energy and Nifty Private Bank closed with gains. Only Nifty Consumer Durables and Nifty PSU Bank were in the red.

HCL Tech, TCS, Infosys, Bharti Airtel, Sun Pharma, Tech Mahindra, HUL, ITC, ICICI Bank, Maruti Suzuki, Tata Steel, NTPC, Bajaj Finserv, Kotak Mahindra Bank and Bajaj Finance were the top gainers in the Sensex pack. Indigo, M&M, Titan, Trent, SBI, UltraTech Cement, L&T and were the eternal losers.

There was mixed trading in midcaps and smallcaps as compared to largecaps. The Nifty Midcap 100 index closed at 54,600.55, up 107.90 points or 0.20 per cent. At the same time, Nifty Smallcap 100 index was at 15,843.30 with a weakness of 9.75.

Sunny Aggarwal, Head of Fundamental Research, SBI Securities, said that Indian stock markets closed with gains in a volatile session on Tuesday. Sensex registered a gain of about 500 points and Nifty 50, recovering from the day’s heavy fall, made a record of closing above 23,100.

Markets opened weak due to US-Iran tension and high crude oil prices, but recovery was seen in the market due to strong buying in IT stocks led by Wipro, Infosys and TCS and support of metal and real estate stocks.

Aggarwal further said that the decision of the Monetary Policy Committee of RBI coming tomorrow and the deadline given by the US to Iran to open the Strait of Hormuz, which ends at 5:30 am IST, will play an important role in deciding the direction of the market.