Equity benchmarks continued their upward momentum on Tuesday afternoon, with the BSE Sensex climbing 995.52 points to 78,334.53 and the Nifty 50 rising 293.40 points to 23,747.20, marking gains of 1.29 per cent and 1.25 per cent respectively by 12:30 PM.
The market breadth remained firmly positive, with 2,891 stocks advancing compared to 945 declines on the BSE. A total of 3,951 stocks were traded, while 159 stocks hit 52-week highs against 55 touching 52-week lows. The session saw 319 stocks hitting upper circuit limits and 272 touching lower circuits.
Auto major Mahindra & Mahindra emerged as the top gainer on the NSE, surging 4.10 per cent, followed by retailer Trent which advanced 3.39 per cent. Tech Mahindra gained 3.26 per cent, while Adani Ports and Tata Motors added 2.98 per cent and 2.90 per cent respectively.
However, insurance stocks faced selling pressure, with SBI Life dropping 2.92 per cent and HDFC Life declining 2.81 per cent. Bajaj Finserv fell 1.37 per cent, while Shriram Finance and State Bank of India shed 0.64 per cent and 0.55 per cent respectively.
The broader market indices outperformed the benchmarks, with Nifty Next 50 rising 1.43 per cent to 68,436.25 and Nifty Midcap Select gaining 1.67 per cent to reach 12,294.10. The banking sector participated in the rally as Nifty Bank advanced 1.03 per cent to 50,883.50, while Nifty Financial Services moved up 0.75 per cent to 23,431.55.
The market maintained its morning momentum after snapping a seven-day losing streak at opening. The rally was supported by positive market breadth, with advances outnumbering declines by more than three to one.
Trading activity remained robust across market segments, with key sectoral indices trading in the green. The presence of 159 stocks at 52-week highs compared to 55 at yearly lows further underscored the market’s positive sentiment during the session.
The markets showed resilience despite recent foreign institutional investor (FII) selling, suggesting strong domestic support. Trading continued ahead of the afternoon session, with investors closely monitoring global cues and sectoral movements.