MUMBAI: Indian equity markets extended their rally for the second straight session on Tuesday, buoyed by easing global trade tensions. The benchmark indices—the BSE Sensex and NSE Nifty50—jumped more than 2% each after US President Donald Trump announced tariff exemptions for smartphones and computers and signalled a potential delay in auto tariffs.
The Sensex soared 1,577.63 points (2.10%) to close at 76,734.89, while the Nifty surged 500 points (2.19%) to settle at 23,328.55. This follows a similarly strong performance on Friday, with markets remaining shut on Monday.
Sectorally, the Nifty Realty index led the gains, climbing over 4.5%, followed by Nifty Auto and Nifty Metal. Broader markets outperformed the benchmarks, with the Nifty Midcap 100 and Nifty Smallcap 100 indices rising 2.92% and 3.02%, respectively.
IndusInd Bank, Shriram Finance, L&T, Adani Enterprises and Tata Motors were the top gainers in the Nifty50 pack. ITC and HUL were the only laggards.
Vikas Gupta, CEO and Chief Investment Strategist at OmniScience Capital said that the markets are adjusting to the new reality of daily Trump Twists and Turns.