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Sensex climbs 328 points; Nifty crosses 22,200 mark as metal stocks shine

The stock market surged on Tuesday, with both the Sensex and Nifty marking their third consecutive day of gains. Led by strong performances in the auto, metal, and banking sectors, the Sensex climbed 328 points to reach 73,105, while the Nifty settled at 22,218, up by 114 points.

Edited By: Nitin Kumar @Niitz1 New Delhi Updated on: May 14, 2024 16:44 IST
BSE
Image Source : FILE Business stock exchange building.

The Indian stock market witnessed a bullish trend on Tuesday, with the Sensex and Nifty extending their gains for the third consecutive day. Strong performances in the auto, metal, and banking sectors primarily fueled the rally. The Sensex closed 328 points higher at 73,105, while the Nifty settled at 22,218, marking an increase of 114 points.

Stock performance

On the Sensex, major gainers included M&M, L&T, JSW Steel, NTPC, and IndusInd Bank, while TCS, Nestle, Axis Bank, ICICI Bank, Bajaj Finance, and ITC faced losses. In the broader markets, the BSE Midcap and Smallcap indices rose by 1.14 per cent and 1.8 per cent, respectively.

Sectoral movement

Among the sectors, the Nifty Metal index emerged as the top performer, soaring by 2.77 per cent, followed by Nifty Auto and Oil & Gas, both recording a rise of 1.8 per cent. Nifty PSU Bank, Consumer Durables, and Realty sectors also showed positive momentum, each climbing by 1 per cent. However, Nifty FMCG and Pharma sectors experienced a slight decline of 0.5 per cent each.

Previous session recap

In the previous trading session on Monday, the Sensex closed at 72,776, registering a gain of 112 points, while the Nifty50 ended at 22,104, up by 49 points.

The consecutive rise in the benchmark indices reflects the growing investor confidence amidst positive sectoral performances, particularly in the metal segment, contributing to the overall bullish sentiment in the market.

Also read | India's wholesale inflation rises to 13-month high of 1.26 per cent in April

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