Stock Markets Rally for Second Day; Sensex Jumps 200+ Points, Nifty Above 24,600
Reliance, NTPC, Bharti Airtel, Bajaj Finance among top gainers; Manufacturing PMI hits 17-year high,,,,
Mumbai — The Indian stock markets extended their winning streak on Tuesday as Sensex and Nifty opened higher, driven by strong macroeconomic data and buoyant investor sentiment.
The 30-share BSE Sensex rose 207.45 points to trade at 80,571.94, while the 50-share NSE Nifty advanced 60.8 points to 24,685.85.
Among the major gainers were Reliance Industries, Eternal, NTPC, Bharti Airtel, Bajaj Finance and Hindustan Unilever. On the flip side, Asian Paints, Infosys, Mahindra & Mahindra, and Trent traded lower.
The rally came on the back of India’s manufacturing sector showing its fastest improvement in operating conditions in over 17 years, according to the HSBC India Manufacturing Purchasing Managers’ Index (PMI). The PMI rose from 59.1 in July to 59.3 in August, indicating strong demand and higher production efficiency. In PMI terms, a score above 50 denotes expansion.
On the global front, Asian markets traded mixed with South Korea’s Kospi and Japan’s Nikkei 225 in positive territory, while Shanghai’s SSE Composite and Hong Kong’s Hang Seng slipped lower. US markets remained closed on Monday due to the Labour Day holiday.
The rally follows Monday’s surge where the Sensex jumped 554.84 points (0.70%) to 80,364.49 and the Nifty climbed 198.20 points (0.81%) to 24,625.05. Analysts credited the momentum to India’s better-than-expected Q1 GDP growth of 7.8%, reinforcing optimism about the country’s growth trajectory.
Meanwhile, global oil benchmark Brent crude edged up 0.43% to $68.44 per barrel. On the institutional side, FIIs offloaded equities worth ₹1,429.71 crore on Monday, while DIIs purchased shares worth ₹4,344.93 crore, according to exchange data.
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