Sensex rises 824 pts in 2 days, Nifty tops 25,700; will stock market uptrend sustain?

Domestic equity benchmarks Sensex and Nifty climbed for the second straight session on Tuesday amid muted global cues, as buying in heavyweight stocks such as Infosys, ITC, L&T and BEL lifted broader sentiment.

At close, the Sensex gained 173.81 points, or 0.21 per cent, to settle at 83,450.96, taking its two-day jump to 824 points, while the Nifty rose 42.65 points, or 0.17 per cent, to end at 25,725.40.

The 50-pack index found initial support in the 25,570-25,600 range and staged a disciplined rebound, reclaiming both the 20-day and 50-day EMAs to maintain the short-term constructive bias, said Ponmudi R, CEO of Enrich Money.

ITC emerged as top gainer on the Sensex, rising 2.33% to Rs 325.35. Bharat Electronics (BEL) followed with a 1.96% gain, while Infosys, Larsen & Tuobro (L&T), Asian Paints and Titan Company advanced 1.83%, 1.74%, 1.67% and 1.46%, respectively. 

“The recovery lifted the index above 25,700; however, upside momentum repeatedly encountered supply in the 25,760–25,800 resistance band, leading to intermittent profit booking,” Ponmudi said.

Five stocks, namely Infosys, Larsen & Toubro (L&T), ITC, BEL and SBI, contributed heavily to the Sensex’s rise.  

Among sectoral indices, the BSE IT index jumped 1.15% to close at 31,980.28, while the BSE PSU Bank climbed 2.36% to settle at 5,318.89. 

In the Sensex index, shares of Larsen & Toubro (L&T) and State Bank of India (SBI) hit their fresh 52-week high of Rs 4,285 and Rs 1,225.50, respectively, on BSE.  Domestic markets remained range-bound, attempting to recover recent losses caused by lingering concerns about AI-driven disruptions, said Vinod Nair, Head of Research, Geojit Investments Limited.

“The IT sector, following a sharp correction, witnessed selective bottom-fishing, aided by announcements of strategic collaborations with global AI partners,” Nair said. Market breadth remained positive on the BSE. Of the 4,352 actively traded stocks, 2,440 ended in the green, while a dominant 1,758 declined and 154 settled unchanged. The session saw 116 stocks scaling fresh 52-week highs, compared with 144 counters sliding to new 52-week lows. In addition, 182 scrips were locked at their upper circuits, whereas 172 hit lower circuit limits. “Meanwhile, PSU banks outperformed the broader indices, supported by positive Q3 results and favourable regulatory tailwinds. In the near term, sentiment is likely to remain cautious as investors monitor global developments around AI-driven shifts. However, a resilient GDP outlook, and a stabilising rupee may provide support to renewed FII inflows," Nair added. On the downside, Ponmudi noted that dips towards the 25,550-25,600 demand region drew consistent buying interest, confirming this zone as a near-term support base and preventing a sharp breakdown. “Momentum indicators remained neutral, with the daily RSI hovering in the 50–55 range — reflecting balanced strength without signaling overbought or oversold extremes,” he added.

Ponmudi said that the session proceeded in a controlled, range-bound manner, with supply being absorbed near resistance while key supports remained intact. “The index eventually closed marginally higher, maintaining a cautiously constructive undertone as long as immediate support levels continue to hold.”