Mumbai, April 22 (IANS) The Indian stock market continued its upward journey for the sixth straight trading session on Tuesday, supported by gains in fast-moving consumer goods (FMCG) and private banking stocks.
The Sensex began the day with a strong start, opening 320 points higher at 79,728. However, it soon slipped into the red, touching a low of 79,253, as investor sentiment was affected by steep losses in the US markets overnight.
Despite the early fall, the Sensex recovered quickly and remained in positive territory for the rest of the trading day. It even touched an intra-day high of 79,824 before finally closing 187 points or 0.24 per cent higher at 79,596.
With Tuesday’s gains, the Sensex has now climbed 5,749 points, or 7.8 per cent, over the last six trading sessions, showing strong momentum in the domestic markets.
The Nifty also followed a similar trend. It slipped to a low of 24,072 during early trade but bounced back sharply to hit a high of 24,243. The Nifty finally ended the intra-day trading session with a gain of 42 points or 0.2 per cent at 24,167.
Interestingly, this rally comes on a special day for the NSE, as it celebrated its 29th anniversary on Tuesday.
Over the past six sessions, the Nifty has gained 1,768 points or 7.9 per cent — showing strong investor confidence despite global market concerns.
Market experts believe that steady buying in select sectors like FMCG and banking is helping Indian indices maintain their positive momentum.
“For Nifty, the highest open interest on the call side was seen 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,” said Sundar Kewat of Ashika Institutional Equity.
He added that the Put-Call Ratio (PCR) stood at 1.05, which indicates a slightly bullish undertone.
Bank Nifty led the rally, jumping sharply following the Reserve Bank of India’s announcement to ease final Liquidity Coverage Ratio (LCR) norms, effective from April 2026.
Beyond the banking space, sectors such as Realty, Consumer Durables, and FMCG also witnessed notable gains.
The only sector to close in the red was IT.
“Globally, US markets remained under pressure, weighed down by persistent selling,” Kewat noted.
–IANS
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