Sensex and Nifty Mark Sixth Consecutive Day of Gains, Rising Nearly 8 Percent
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Synopsis
The Indian stock market has shown remarkable resilience, continuing its upward trend for the sixth consecutive day. Major contributions came from the FMCG and banking sectors, leading to significant gains in both Sensex and Nifty indices, showcasing investor confidence despite global concerns.
Key Takeaways
- Sensex gained 187 points, closing at 79,596.
- Nifty increased by 42 points, ending at 24,167.
- Market buoyed by FMCG and banking stocks.
- Put-Call Ratio indicates a slightly bullish market.
- Bank Nifty surged after RBI's LCR announcement.
Mumbai, April 22 (NationPress) The Indian stock market has continued its ascent for the sixth consecutive trading session on Tuesday, buoyed by advancements in fast-moving consumer goods (FMCG) and private banking stocks.
The Sensex commenced the day robustly, opening 320 points higher at 79,728. However, it briefly dipped into negative territory, hitting a low of 79,253, as investor sentiment was impacted by significant losses in the US markets overnight.
Despite the initial downturn, the Sensex swiftly bounced back, remaining in positive territory for the remainder of the trading session. It even reached an intra-day peak of 79,824 before ultimately closing with a gain of 187 points, or 0.24 percent, at 79,596.
With the gains on Tuesday, the Sensex has surged by 5,749 points, equating to 7.8 percent, over the past six trading sessions, indicating robust momentum in domestic markets.
The Nifty mirrored this trend, initially dropping to a low of 24,072 during early trading but rebounding sharply to achieve a high of 24,243. Ultimately, the Nifty concluded the intra-day trading session with a gain of 42 points, or 0.2 percent, at 24,167.
This rally coincides with a significant milestone for the NSE, which celebrated its 29th anniversary on Tuesday.
Over the last six sessions, the Nifty has increased by 1,768 points or 7.9 percent, showcasing strong investor confidence despite global market challenges.
Market analysts believe that consistent buying in targeted sectors such as FMCG and banking is supporting the positive momentum of Indian indices.
“For Nifty, the highest open interest on the call side was observed at the 25,500 and 24,200 strike prices, while on the put side, it was concentrated at the 24,000 and 23,000 levels,” stated Sundar Kewat of Ashika Institutional Equity.
He mentioned that the Put-Call Ratio (PCR) stands at 1.05, indicating a slightly bullish sentiment.
The Bank Nifty led the charge, experiencing a sharp increase following the Reserve Bank of India's announcement to relax final Liquidity Coverage Ratio (LCR) norms, effective from April 2026.
Apart from banking, sectors like Realty, Consumer Durables, and FMCG also recorded significant gains.
The sole sector that closed in the red was IT.
“Globally, US markets faced pressure, weighed down by ongoing selling,” Kewat noted.
