A view of the National Stock Exchange (NSE) building in Mumbai. (File photo | PTI)
Business

Markets extend rally for third day on firm Asian peers, FII inflows

Analysts said strength in US markets and optimism surrounding the interim trade framework between New Delhi and Washington are improving investors' sentiment.

PTI

MUMBAI: Equity benchmark indices Sensex and Nifty extended their winning run for the third straight session on Tuesday, tracking positive trends in Asian markets and sustained foreign fund inflows.

The 30-share BSE Sensex climbed 247.01 points, or 0.29 per cent, to 84,312.76 in early trade. The 50-share NSE Nifty rose 80.25 points, or 0.31 per cent, to 25,947.55.

Among the Sensex constituents, Eternal, Titan, Axis Bank, NTPC, Tata Consultancy Services, Sun Pharmaceuticals, PowerGrid, Maruti Suzuki India, Mahindra & Mahindra, Larsen & Toubro, Bharat Electronics Ltd, Reliance Industries, Bharti Airtel and Tata Steel were the gainers.

On the other hand, Bajaj Finance, HCL Technologies, Asian Paints, IndiGo, State Bank of India, and HDFC Bank were among the laggards.

Analysts said strength in US markets and optimism surrounding the interim trade framework between New Delhi and Washington are improving investors' sentiment.

In Asian markets, Japan's Nikkei 225 index, Hong Kong's Hang Seng, South Korea's Kospi were trading higher, while Shanghai's SSE Composite index is trading flat.

US equities market ended higher in overnight deals on Monday.

"Global equities markets rallied on Monday propelled by optimism over Japanese Prime Minister Sanae Takaichi's thumping election win and a tech rebound, while the dollar slumped amid reports that China has advised financial institutions to curb exposure to US bonds," Devarsh Vakil, Head of Prime Research, HDFC Securities, said.

He added that investors now awaiting delayed January employment data due to release on Wednesday and CPI inflation figures on Friday.

The data releases will provide crucial guidance on Federal Reserve interest rate policy for the remainder of 2026.

Meanwhile, foreign institutional investors bought equities worth Rs 2,254.64 crore on Monday, according to exchange data.

Brent Crude, the global oil benchmark, fell 0.28 per cent to USD 68.85 per barrel.

On Monday, the 30-share BSE Sensex jumped 485.35 points to close at 84,065.75, while the 50-share NSE Nifty appreciated by 173.60 points to settle at 25,867.30.

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