Sharp Surge in Stock Market Amidst Repo Rate Cut Expectations and Positive Global Signals: Sensex Jumps 1700 Points, Nifty 500 Points to New Highs.
Stock Market Soars: The Indian stock market witnessed a significant surge on Tuesday. Following Monday's sharp decline, robust investor buying and b global cues boosted market sentiment. By 1:30 PM, the BSE Sensex had climbed 1700 points, trading around 74,800, while the Nifty surged 500 points to reach 22,650.
Repo Rate Cut Expectation
This market rally occurred ahead of the Reserve Bank of India's Monetary Policy Committee (MPC) meeting. Speculation suggests a potential 25 basis point cut in the repo rate. This expectation has infused optimism among investors.
BSE Market Cap Increases by ₹4.61 Lakh Crore
With the surge, the BSE market capitalization increased by ₹4.61 lakh crore, exceeding ₹393.86 lakh crore. Index-wise, Nifty Consumer Durables rose by 3%, while the Metal, Realty, and Financial sectors saw gains exceeding 2%.
Positive Signals from Global Markets
Positive signals also emerged from international markets. Japan's Nikkei index climbed 5.6%, and US tech stocks also experienced a rally, providing support to the Indian market.
Significant Drop in Crude Oil Prices
Crude oil prices fell below $65 per barrel, reaching their lowest level since August 2021. This decline is attributed to global uncertainties linked to Donald Trump's tariff policies.
Top Sectors and Top Gainers
All of the BSE's top 30 stocks were in the green. Zomato and Titan saw gains exceeding 4%, while SBI, Larsen & Toubro, and Asian Paints strengthened by 3%.
Today's Top Gainers:
- Five Star Business: 7% surge
- PG Electroplast: 6.36% increase
- Kaynes Technology: 5% surge
- Policy Bazaar: 6% increase
- LIC Housing Finance: 6% increase
- Biocon: 5% surge
