Sensex Jumps 450 Points, Nifty Reclaims 24,800 as Markets Snap 3-Day Losing Streak
A wave of value buying in beaten-down sectors, coupled with easing volatility, fueled a strong rebound in Indian equities on Tuesday.
MUMBAI – India’s benchmark stock indices staged a strong comeback on Tuesday, decisively snapping a three-day losing streak as investors engaged in widespread value buying across key sectors. The positive sentiment was further supported by easing market volatility and encouraging macroeconomic data.
The BSE Sensex surged 446.93 points, or 0.55%, to close the session at 81,337.95. Throughout the day, the index demonstrated robust momentum, hitting an intraday high of 81,429.88. Similarly, the NSE Nifty 50 climbed 140.20 points, or 0.57%, to settle comfortably above the crucial 24,800 mark at 24,821.10.
The market’s recovery was broad-based, signaling renewed investor confidence after the recent correction.
Key Drivers of the Rebound:
Analysts pointed to several factors that contributed to the positive turnaround:
Value Buying in Battered Sectors: The primary catalyst was a surge in “value buying,” where investors purchased stocks that had become attractively priced after recent declines. Bargain hunting was particularly evident in sectors that had been under pressure. The Nifty Realty index, for instance, gained nearly 2% after falling for five consecutive sessions. The Nifty IT, Metal, and Auto indices also saw renewed buying interest, with the Nifty Auto index adding close to 1%.
Top Performing Stocks: Several blue-chip companies led the charge. Major gainers included Jio Financial Services, Larsen & Toubro, Asian Paints, Bharti Airtel, and Apollo Hospitals Enterprise, with some advancing by as much as 4%.
Tuesday’s performance provided a much-needed reprieve for the market, suggesting that underlying investor sentiment remains resilient. The broad-based nature of the rally indicates that participants are seeing fresh opportunities for growth following the recent period of consolidation.
