Indian equity benchmarks Sensex and Nifty rebounded nearly 1% on Tuesday, recovering from the previous session's losses, led by gains in FMCG and automobile stocks.
The BSE Sensex surged 625 points, or 0.94%, to close at 67,346, while the NSE Nifty advanced 183 points, or 0.92%, to settle at 20,167. The recovery was broad-based, with all sectoral indices ending in the green.
FMCG and Auto Stocks Lead the Rally
FMCG stocks were the top gainers, with the BSE FMCG index rising 2.3%. Hindustan Unilever, Nestle India, and Britannia Industries gained between 1.5% and 3%. Auto stocks also performed well, with the BSE Auto index climbing 1.8%. Maruti Suzuki, Tata Motors, and Mahindra & Mahindra were among the major contributors.
Other Sectoral Performances
Banking stocks also supported the rally, with the Nifty Bank index adding 0.7%. Private sector lenders like HDFC Bank and ICICI Bank rose marginally. IT stocks, however, underperformed, with the Nifty IT index gaining only 0.2%.
Market Sentiment and Global Cues
Analysts attributed the rebound to value buying after the recent decline and positive global cues. Asian markets traded higher, while US futures indicated a positive start. However, concerns over rising crude oil prices and geopolitical tensions persisted.
The market breadth was positive, with 2,030 stocks advancing on the BSE, while 1,077 declined. The overall market capitalisation of BSE-listed firms rose by over Rs 2.5 lakh crore.
In the broader market, the BSE midcap index gained 0.8%, and the smallcap index rose 0.6%. Investors will now focus on the upcoming quarterly earnings and macroeconomic data for further direction.
