Sensex gains over 600 points: What's behind today's rally?
What's the story
The Indian stock market opened on a strong note today, with the Sensex gaining over 600 points to reach 83,445. The Nifty also followed suit, rising over 190 points to 25,762. The rally comes as a response to positive global cues and broad-based buying across sectors. The US Supreme Court's decision to strike down tariffs imposed by President Donald Trump under a national emergency law has boosted market sentiment.
Market drivers
Nifty PSU Bank leads the rally
In early trade, gains were seen across most sectors with Nifty PSU Bank leading the pack with a 1.34% rise at 9,795.50 points. Other Nifty sectors such as Financial Services (up by 0.95% at 30,887 points), Realty (up by 0.85% to 828 points), Auto (up by 0.91% to 28,099 points) also witnessed significant gains during this period of strong broad-based buying on Dalal Street today morning.
Stock performance
Most Sensex stocks gain during early deals
Most Sensex stocks were trading in the green during early deals. Axis Bank rose 2.06% to ₹1,396.40 while Adani Ports gained 1.75% to ₹1,537.85. HDFC Bank added 1.26% to ₹923.4 and Kotak Bank was up by 1% to ₹425.95. Reliance Industries climbed nearly a percent higher at ₹1,433.70 while SBI gained 0.88% to ₹1,226.9. The IT sector remained almost flat with a rise of 0.01%.