BSE SENSEX jumps over 400 points, NIFTY 50 nears 23,750; Afcons Infrastructure slips 9% after Q4 results

Indian benchmark indices NIFTY 50 and BSE SENSEX traded higher on Tuesday, supported by positive global cues and strong gains in IT stocks.

By 11 am, the Nifty50 had climbed 126.80 points, or 0.54%, to 23,761.35, while the Sensex rose 427.39 points, or 0.57%, to 75,735.55.

Infosys, Tata Consultancy Services and Tech Mahindra emerged as the top gainers on the Nifty50 index.

Broader markets also advanced, with the Nifty MidCap and Nifty SmallCap indices gaining 1.39% and 1.34%, respectively.

Among sectoral indices, the Nifty IT index surged nearly 4% to lead gains, while the Nifty Chemical and Nifty FMCG indices also outperformed. On the other hand, banking and financial stocks lagged, with the Nifty Private Bank, Nifty Bank and Nifty Financial Services indices underperforming.

Investor sentiment was also shaped by rising fuel prices and developments in West Asia. Petrol and diesel prices were increased by 90 paise on Tuesday — the second hike in less than a week — amid ongoing tensions in the region affecting energy supplies through the Strait of Hormuz.

Globally, US President Donald Trump said a planned military strike had been called off following appeals from other West Asian countries. He also indicated that a deal acceptable to the US and regional countries would be pursued and would ensure the absence of nuclear weapons in the region.