Indian Stock Markets Rally as FMCG and IT Sectors Lag
Indian equity markets closed higher for the third straight session on Tuesday, driven by gains in key sectors. However, FMCG and IT stocks underperformed, limiting broader market momentum.
Sensex and Nifty Extend Gains
The benchmark BSE Sensex surged by 305 points, closing at 75,418, while the NSE Nifty ended 77 points higher at 22,957. Positive cues from global markets and strong buying interest across banking, auto, and energy stocks contributed to the rally.
FMCG Sector Faces Resistance
While most sectors saw upward momentum, FMCG stocks showed weakness, with subdued investor interest impacting key players. The sector had benefited from steady demand in recent quarters, but concerns over rising input costs and profit-booking weighed on stock performance. Leading FMCG companies traded mixed, reflecting cautious market sentiment.
IT Stocks Pull Back
The technology sector also saw selling pressure, with market participants reevaluating valuations amid global economic uncertainty. Concerns over slowing growth in major export markets continued to impact the sector.
Broader Market Outlook
Despite weakness in FMCG and IT, overall market sentiment remained bullish. Sectors such as banking, auto, and renewable energy saw strong buying interest, underpinned by robust corporate earnings and supportive macroeconomic indicators.
While short-term volatility may persist, sustained growth in consumer demand, infrastructure investments, and policy support could drive market momentum in the coming weeks.