Stock market today: Nifty50 ends above 25,150; BSE Sensex ends over 300 points up

Stock market today: Nifty and Sensex, the Indian equity benchmarks, closed higher on Tuesday after a volatile session, supported by strong buying in banking and metal stocks, positive cues from global markets and optimism surrounding the India European Union free trade agreement.

The 30 share BSE Sensex advanced 319.78 points, or 0.39 per cent, to finish at 81,857.48, after moving between an intraday high of 82,084.92 and a low of 81,088.59. The NSE Nifty rose 126.75 points, or 0.51 per cent, to end at 25,175.40.

Gains on the Sensex were led by Adani Ports, Axis Bank, Tata Steel, Tech Mahindra, NTPC, State Bank of India, UltraTech Cement and Bharat Electronics. Axis Bank jumped more than 4 per cent after reporting a 4 per cent rise in its December quarter net profit to Rs 7,010.65 crore, compared with Rs 6,742.99 crore a year earlier. On the downside, Mahindra and Mahindra, Kotak Mahindra Bank, Asian Paints, Eternal and ITC were among the laggards.

Investor sentiment was also aided by the announcement of an ambitious India EU free trade agreement, described by leaders as the "mother of all deals", concluded amid global trade disruptions and uncertainty driven largely by Washington’s tariff policies. Prime Minister Narendra Modi said India had finalised the biggest free trade agreement in its history after summit-level talks with European Commission President Ursula von der Leyen and European Council President Antonio Costa.

"Indian equities continued to trade with a measured and cautious undertone. The finalisation of the India-European Union bilateral trade agreement lent some support to investor sentiment amid a broader risk-off environment triggered by US tariff measures. However, sustained selling by foreign portfolio investors and muted third-quarter corporate earnings growth capped any meaningful upside in domestic equities," said Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm.

According to exchange data, foreign institutional investors sold equities worth Rs 4,113.38 crore on Friday, while domestic institutional investors purchased shares worth Rs 4,102.56 crore. Markets had remained shut on Monday on account of Republic Day.

In the broader global context, Asian markets ended higher, with gains seen in South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite and Hong Kong’s Hang Seng. European markets were trading on a mixed note, while US markets closed higher on Monday. Brent crude oil, the global benchmark, slipped 0.15 per cent to USD 65.49 per barrel.

On Friday, the Sensex had fallen 769.67 points, or 0.94 per cent, to close at 81,537.70, while the Nifty declined 241.25 points, or 0.95 per cent, to end at 25,048.65.

(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)