Sensex Jumps 300 Points, Nifty Above 24,700; BEL & PSU Banks Lead Gains

Indian benchmark indices opened higher on Tuesday, led by gains in metal stocks and support from PSU banks and consumer durable shares, ahead of the weekly Nifty expiry.

The S&P BSE Sensex jumped 299.85 points to 80,664.79, while the NSE Nifty50 added 71 points to 24,705.90 as of 9:24 am.

Market Expert View
Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, noted that the near-term market structure remains weak. “Sustained FII selling and absence of strong triggers are preventing a robust recovery. Any upward move faces immediate selling pressure, evident from yesterday’s negative closing despite institutional inflows of over Rs 1,000 crore,” he said.

Top Gainers & Losers

• Gainers: Power Grid (+1.82%), Asian Paints (+1.36%), Bharat Electronics Ltd (BEL) (+0.94%), Titan (+0.85%), HDFC Bank (+0.75%)

• Losers: ITC (-0.36%), Reliance Industries (-0.29%), Eternal (-0.14%), Larsen & Toubro (L&T) (-0.12%), Trent (-0.09%)

Vijayakumar suggested that long-term investors could use the current market drift to accumulate quality stocks, especially in sectors seeing strong demand and order inflows. Defence stocks, high-quality financials, and PSU banks were highlighted as attractive investment opportunities.

Sectoral Movements

• Positive momentum: Nifty PSU Bank (+1.27%), Nifty Metal (+0.91%), Nifty Media (+0.84%), Nifty Private Bank (+0.30%), Nifty Financial Services (+0.15%), Nifty Auto (+0.07%), Nifty Oil & Gas (+0.07%), Nifty Healthcare (+0.07%), Nifty Pharma (+0.06%), Nifty IT (+0.05%)

• Flat: Nifty Consumer Durables

• Decliners: Nifty Realty (-0.50%), Nifty FMCG (-0.17%)

Midcap & Smallcap Indices

• Nifty Midcap100: +0.01%

• Nifty Smallcap100: +0.02%

• India VIX: +1.09%

Investors are keeping a close watch on market trends as metals, PSU banks, and defence stocks show potential for medium- to long-term gains, while volatility remains a key factor.