Mumbai

Indian equity markets surged on Tuesday, boosted by optimism over resumed India-US trade talks and expectations of a US Federal Reserve rate cut. The Sensex closed at 82,380.69, up 594.95 points (0.73%), after hitting an intraday high of 82,443.48. Nifty gained 169.90 points (0.68%) to settle at 25,239.10, supported by broad-based value buying across sectors, except FMCG.

“Markets recovered on positive global cues, hopes of a 25 bps Fed rate cut, and renewed optimism from India-US trade talks. Auto and consumer durable stocks led gains ahead of new GST rates and festive demand,” said Vinod Nair, Head of Research at Geojit Investments.

Major Sensex gainers included Kotak Bank, Mahindra & Mahindra, L&T, Maruti Suzuki, Airtel, Tata Steel, and Axis Bank, while Bajaj FinServ and Asian Paints lagged. Sectoral indices broadly ended higher, with Nifty Auto, Nifty IT, and Nifty Bank leading the rally. Midcap and small-cap indices also saw healthy gains. The rupee strengthened 0.13% to 88.05 against the US dollar, supported by trade optimism and potential Fed rate cuts, reflecting positive sentiment in both currency and equity markets.