Indian stock markets saw a strong rally on Tuesday as benchmark indices surged over the 90-day reciprocal tariffs relief by the US administration, amid similar relief likely for the automotive sector.
The Sensex opened with a sharp jump of nearly 1,700 points at 76,852 and quickly touched the intra-day’s high of 76,908. The index then moved in a narrow range near the day’s peak, supported by strong buying in private banks, metal stocks, IT companies, and infrastructure-related shares.
By the end of the session, the Sensex had gained 1,578 points, or 2.1 per cent, to close at 76,735. Among the index heavyweights, HDFC Bank, ICICI Bank, and Axis Bank together accounted for nearly 50 per cent of the day’s gains, contributing around 750 points to the overall rally.