extended their festive-season rally into the afternoon session on Tuesday, with the trading 379.73 points higher at 82,169.85 and the up 95.90 points at 25,173.55 as of 1:35 pm.
The indices opened marginally higher at 81,883.95 and 25,085.30 respectively, building on the momentum from Monday’s session despite sustained foreign institutional investor outflows.
Financial stocks drove the upmove, with the Nifty Financial Services index gaining 169.50 points or 0.63 per cent to 26,889.20, while the Nifty Bank index advanced 323 points or 0.58 per cent to 56,427.85.
Telecom major Bharti Airtel emerged as the top gainer on the Nifty 50, surging 1.99 per cent to ₹1,940.90, followed by Jio Financial Services which climbed 1.65 per cent to ₹311.30. Eicher Motors added 1.57 per cent to ₹6,988, while HDFC Bank and ICICI Bank contributed significantly to the index gains, rising 1.41 per cent to ₹987.20 and 1.17 per cent to ₹1,379.30 respectively.
However, retail and auto stocks faced selling pressure. Trent declined 1.97 per cent to ₹4,683.20, emerging as the biggest laggard, followed by Tata Motors which fell 1.86 per cent to ₹699.40. Axis Bank dropped 1.57 per cent to ₹1,193.80, while Tata Consumer Products shed 1.19 per cent to ₹1,128.50 and Hindalco lost 1.16 per cent to ₹767.70.
Market breadth remained mixed, with 1,841 stocks advancing against 2,196 declining on the BSE, while 165 remained unchanged out of 4,202 stocks traded. A total of 160 stocks touched their 52-week highs, compared to 112 hitting 52-week lows. Circuit filters were triggered on 223 stocks on the upper side and 163 on the lower side.
The Nifty Midcap 100 index gained 205.40 points or 0.35 per cent to 58,231.15, while the Nifty Next 50 rose marginally by 18.55 points or 0.03 per cent to 68,623.65. Analysts attributed the continued strength to festive-season optimism and strong domestic institutional buying, which offset foreign investor selling of ₹313 crore on October 6 with inflows of ₹5,036 crore.