Mumbai

On Tuesday, the Indian benchmark indices closed higher for the third straight session, boosted by gains in real estate, FMCG, and IT stocks. By the end of the day, the Sensex rose by 51.69 points, or 0.06%, reaching 80,716, while the Nifty increased by 26.30 points, or 0.11%, to close at 24,613.

Leading the Nifty gains were Coal India, BPCL, Hindustan Unilever, Tata Consumer Products, and Bharti Airtel. The realty index climbed 1.6%, and sectors like FMCG, IT, metals, and telecom saw increases between 0.3% and 0.9%.

Market analysts noted that the domestic market couldn’t maintain its initial gains as investors expressed concerns over current valuations and muted expectations for earnings in Q1 FY25. With the earnings season kicking off this week, investors are likely to gain a clearer view across various sectors. The rupee remained steady near 83.58 as participants await the upcoming budget.

Analysts predict that traders may hold off on making new positions until the budget is announced, which will shed light on the economic outlook. The Indian indices have been on an upward trend, driven by positive sentiment surrounding the budget and strong foreign institutional investor (FII) inflows, coupled with better-than-anticipated results from the IT sector.