Stock Market today: Sensex rises 300 pts, Nifty tops 25,150; Eternal rallies 15%, Trent up

The Indian benchmark indices, the Sensex and Nifty50, continued their upward trend for the second day, lifted by strong first-quarter earnings from private lenders HDFC Bank and ICICI Bank. 

At 9:19 AM, the BSE Sensex was trading at 82,397.21, up 196.87 points or 0.24 per cent. The index was up nearly 340 points earlier today. The NSE Nifty50 surged 43.10 points, or 0.17 per cent, to trade at 25,133.80. It hit a high of 25,182 today. Mandar Bhojane, Senior Technical & Derivative Analyst - Research at Choice Equity Broking Private Limited, said the recent rebound from the 50-day EMA indicates a potential trend reversal, though confirmation through follow-up buying is awaited. 

"On the upside, a sustained move above 25,150 could pave the way toward 25,250. Key support levels remain at 25,000 and 24,900, which may offer favorable risk-reward opportunities for long positions,” Bhojane said.

Eternal rose 14.8 per cent. Trent (1.19 per cent), Bharat Electronics (0.60 per cent), and ICICI Bank (0.49 per cent), gained up to 1.2 per cent, leading the gainers on BSE Sensex in Tuesday’s trade.

Titan Company, a Tata Group company, was in the spotlight today after signing an agreement to acquire a 67 per cent stake in Damas LLC (UAE), the holding company for Damas jewellery in the GCC countries, from Mannai Corporation. The proposed transaction values Damas at an enterprise value of AED 1,038 million.

The leading state-run lender, State Bank of India (SBI), raised Rs 25,000 crore by issuing 30.6 crore shares to qualified institutional buyers such as LIC, Societe Generale, HDFC Life Insurance, HDFC Mutual Fund, and Quant MF at Rs 817 per share. Life Insurance Corporation (LIC) has increased its stake in State Bank of India from 9.21 per cent to 9.49 per cent.

Several companies, including IRFC, Dixon Technologies, JSW Infra, Colgate Palmolive, One97 Communications, United Breweries, Dalmia Bharat, KEI Industries, M&M Finance, Shyam Metalics & Energy, Kajaria Ceramics, Zensar Technologies, Blue Jet Healthcare, Schloss Bangalore and Mahanagar Gas, are in the spotlight today as they are scheduled to report their first-quarter earnings.

The opening comes after a positive closing on Monday, where the Sensex settled at 82,200.34, up 442.61 points or 0.54 per cent, and the Nifty50 rose 122.30 points, or 0.49 per cent, to settle at 25,090.70.