The Indian stock market closed Tuesday’s session with solid gains, largely driven by financial stocks after the RBI detailed a concessional forex swap facility for overseas borrowings. A decline in crude oil prices also supported sentiment, helping the frontline indices snap a two-day losing streak.
The Nifty and Sensex ended the session higher by 0.61% and 0.55%, respectively, while the broader markets outperformed the benchmark indices. The Nifty Midcap 100 and Nifty Smallcap 100 indices gained 1.5% and 1.8%, respectively.
Among sectoral indices, the Nifty PSU Bank index led the rally with a sharp 3.6% surge, while the Nifty Realty, Nifty Chemicals, and Nifty Auto indices also gained over 1%.
The Reserve Bank of India on Monday operationalised foreign currency liquidity measures by introducing special dollar-rupee swap facilities for Foreign Currency Non-Resident (FCNR) deposits and External Commercial Borrowings (ECBs) to encourage inflows and support the rupee.
In the Middle East, tensions eased after Iran’s military reportedly said it would halt offensive operations following an appeal from U.S. President Donald Trump. However, it warned that harsher attacks could follow if Israel resumed strikes on Lebanon.
Following the pause in attacks, crude oil prices retreated from recent highs, with Brent crude falling to $93.3 per barrel, compared with around $97 ahead of the Indian market close on Monday.
Although markets rebounded, the Nifty and Sensex are still trading with double-digit losses of 11% and 13.5%, respectively, in 2026, sharply underperforming their Asian peers, many of which have scaled multiple record highs.
PSU banks lead rally; Bank of Maharashtra jumps 5.5%
PSU banks emerged as the top performers in Tuesday’s trade, with all constituents of the Nifty PSU Bank index closing in the green. Bank of Maharashtra led the gains, surging 5.5% to ₹84 apiece.
It was followed by Bank of Baroda, Bank of India, Punjab & Sind Bank, Canara Bank, UCO Bank, Indian Bank, Punjab National Bank, and Union Bank of India, all of which gained between 3% and 5.5%.
Auto ancillary stock Gabriel India climbed 7.3% to ₹1,053 apiece after domestic brokerage firm Motilal Oswal Financial Services initiated coverage on the stock with a ‘Buy’ rating.
Belrise Industries also witnessed renewed buying interest, gaining 9% to ₹235 apiece and snapping a three-day losing streak.
Data Patterns (India), Cemindia Projects, Jain Resource Recycling, Concord Biotech, PI Industries, and Poly Medicure advanced over 6%.
Amid a sharp jump in trading volumes, shares of Ola Electric ended with strong gains of 6.5% at ₹47 apiece. CarTrade Tech extended gains for the third straight session, rising 6% to ₹2,187 apiece, while Redington also posted a strong gain of 5% to close at ₹240 apiece.
Tata Technologies, Schneider Electric lead losers’ list
On the losing side, Tata Technologies and Schneider Electric emerged among the top laggards, declining 4.4% and 4%, respectively.
Other notable losers included Acutaas Chemicals, Zee Entertainment Enterprises, Zydus Wellness, Balrampur Chini Mills, Anupam Rasayan India, NLC India, Titan Company, ONGC, and Torrent Power, all of which declined over 2%.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
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