The Indian stock market rose on Tuesday as Sensex and Nifty gained nearly 1% each. Cooling oil prices and strong Q2 updates boosted investor confidence after a long selloff. Vinod Nair said, "Crude oil prices slipped below the $100 mark after a large G7 stockpile release and alternative supply measures."
The Indian stock market extended sharp gains on Tuesday, with Sensex and Nifty rising up to nearly 1% each as cooling oil prices, strong Q2 updates and other factors boosted investor confidence for the second consecutive session following an incessant selloff.
Sensex rose over 685 points to close at 73,068, while Nifty 50 gained over 220 points to end the session at 22,776. The gains added nearly Rs 5 lakh crore to the total market capitalisation of all companies listed on BSE, pushing it near Rs 474 lakh crore.
Here's how analysts read the market pulse
"Crude oil prices slipped below the $100 mark after a large G7 stockpile release and alternative supply measures helped offset disruptions to vessel movements through the Strait of Hormuz. Coupled with strong Q2 business updates from financials and retail along with supportive global cues, the decline in oil prices improved investors' sentiment and supported a rebound from the oversold levels. Domestically, attention now shifts to the Q2 earnings season for silver lining amidst weak sequential expectations due to elevated input costs. Large-cap stocks remain relatively better placed, supported by attractive valuations and a stronger ability to absorb cost pressures. Investors also remain cautious ahead of the RBI policy decision, with the focus firmly on the central bank's inflation outlook and guidance on further policy tightening,” said Vinod Nair, Head of Research, Geojit Investments.
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US stocks
The benchmark S&P 500 and the Nasdaq hit record highs on Tuesday as Treasury yields eased from multi-year highs and oil prices fell, while investors looked ahead to the upcoming quarterly earnings season.
Most of the 'Magnificent Seven' stocks edged higher in early trading, with Meta, Tesla and Amazon.com all up. Apple and Alphabet were outliers, down about 0.2% each.
European markets
In European trading, Britain's FTSE 100 gained 0.4%, while France's CAC 40 and Germany's DAX each gained 0.6%. The pan-European STOXX 600 firmed 0.5%.
The euro rose 0.3% to 1.1253, stabilising after hitting a 17-month low in the previous session due to concerns about the euro zone's fiscal outlook. Political uncertainty also deepened after Spain called a snap election on Monday.
France's 10-year bond yield fell about 18 basis points to 4.76% after surging to its highest since the 2000s last week. Far-right leader Marine Le Pen, the frontrunner in next spring's presidential election, increased her plans to slash spending if elected in 2027.
Most active stocks in terms of turnover
BSE (Rs 2,251 crore), RIL (Rs 2,181 crore), Trent (Rs 1,919 crore), HDFC Bank (Rs 1,885 crore), Kotak Mahindra Bank (Rs 1,726 crore), ICICI Bank (Rs 1,632 crore) and Honasa Consumer (Rs 1,169 crore) were among the most active stocks on NSE in value terms. Higher activity in a counter in value terms can help identify the counters with the highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 33.73 crore), Ola Electric (Traded shares: 5.71 crore), Yes Bank (Traded shares: 4.89 crore), Reliance Power (Traded shares: 4.87 crore), Suzlon Energy (Traded shares: 4.25 crore), Groww (Traded shares: 4.14 crore) and Kotak Mahindra Bank (Traded shares: 4 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Trent, Urban Company, Aether Industries, PG Electroplast, Honasa Consumer, HEG and Motilal Oswal were among the stocks that witnessed strong buying interest from market participants.
52-week high
Among the ones which hit their 52-week highs on NSE included Aether Industries, BHEL, Kalpataru Power, HFCL, Cupid, Sterlite Tech and Aditya Infotech.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Coal India, Phoenix Mills, Signatureglobal India, Bandhan Bank, Global Health, Rainbow Childrens and Federal Bank.
52-week low
Among the ones which hit their 52-week lows on NSE included Max Healthcare, GIC, HUDCO,
Bharti Hexacom, DMart, IOC and Max Financial.
Sentiment meter favours bulls
Out of the 3,695 stocks that traded on the NSE on October 6, Tuesday, 2,455 stocks witnessed advances, 1,125 stocks saw declines while 115 stocks remained unchanged.
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(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
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