Domestic benchmark equity indices snapped their three-session losing streak and closed in the green on Tuesday, buoyed by positive global cues and market optimism ahead of the Reserve Bank of India’s upcoming policy meeting.
Key Indices Gain on Rate Cut Hopes
The BSE Sensex gained 261 points, or 0.32%, to close at 80,998, while the NSE Nifty-50 rose 78 points to settle at 24,620. The rebound follows speculation that the RBI’s Monetary Policy Committee may announce a third rate cut in its meeting scheduled for June 6.
Broader Markets Also Advance
Not just large caps, but broader markets also saw healthy buying.
- The Mid-Cap Index climbed 0.76%
- The Small-Cap Index gained 0.58%
This suggests renewed investor confidence across market segments.
Sensex: Winners and Losers
Among the 30 Sensex stocks, 18 ended in the green, with notable performances from:
- Eternal: up 3.32%
- Bharti Airtel: up 1.82%
- IndusInd Bank: up 1.79%
On the flip side, top laggards included:
- Bajaj Financial Services: down 1.66%
- Axis Bank: down 0.90%
- TCS: down 0.72%
Sectoral Overview: Telecom and Utilities Shine
On the BSE sectoral front, most indices ended with gains, except Bankex and Realty, which closed marginally lower.
Top performing sectors:
- Telecom: up 1.3%
- Utilities: up 0.99%
- Teck: up 0.75%
This broad-based rally indicates strength beyond banking and real estate counters.
Market Breadth Positive Across Exchanges
At the Bombay Stock Exchange (BSE):
- 2,071 stocks advanced,
- 1,933 declined,
- 151 remained unchanged
At the National Stock Exchange (NSE):
- 58 stocks touched their 52-week highs
- 30 stocks hit 52-week lows
Outlook Ahead
Investors now await the RBI policy outcome on June 6, which could act as the next major trigger for the markets. Expectations of a potential interest rate cut and improving global sentiment could continue to support bullish momentum in the near term.
