All 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the green. All 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the green. All 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the green. Indian equity benchmarks rose in Tuesday's opening trade, extending their climb for the eighth straight session. The domestic indices traded higher today led by strong buying interest in banks, financials, technology, metal and energy stocks. The 30-share BSE Sensex surged 313 points or 0.51 per cent to trade at 61,425, while the broader NSE Nifty moved 102 points or 0.57 per cent higher to trade at 18,167. Mid- and small-cap shares were positive as Nifty Midcap 100 gained 0.76 per cent and small-cap was up 0.68 per cent.
"India outperformed the rest of Asia and the developed markets in April with a smart rally mainly assisted by a sudden change of strategy by the FIIs (Foreign institutional investors) who have turned big buyers in the market in the last two trading days. The important trigger for this change of FII strategy is the appreciation of the rupee. The rupee which had depreciated to 82.94 to the dollar in late February is now around 81.80 and is expected to appreciate further on India's improving current account deficit," said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
FIIs continued their buying streak for the third session and added equities worth Rs 3,304 crore on Friday.
All 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the green. Sub-indexes Nifty Bank, Nifty Financial Services, Nifty IT, Nifty Metal and Nifty Oil & Gas were outperforming the NSE platform by rising as much as 0.45 per cent, 0.65 per cent, 0.75 per cent, 0.85 per cent and 1.07 per cent, respectively.
On the stock-specific front, UPL was the top Nifty gainer as the stock jumped 2.42 per cent to trade at Rs 758.25. Also, L&T, ONGC, Hindalco and Eicher Motors climbed up to 1.55 per cent.
In contrast, Hero MotoCorp, Tata Motors, Kotak Mahindra Bank, Divi's Labs and Adani Ports slipped up to 1.49 per cent.
The overall market breadth was strong as 2,179 shares were advancing while 1,314 were declining on BSE.
On the 30-share BSE index, Reliance Industries, Infosys, L&T, HDFC twins (HDFC and HDFC Bank), Axis Bank, ICICI Bank, Hindustan Unilever, Asian Paints and PowerGrid were among the top gainers.
In addition, TCNS Clothing, Welspun India, Shoppers Stop, RVNL, IRCON, Indiabulls Housing Finance and Adani Green jumped up to 8.20 per cent.
On the flip side, Atul, RBL Bank, Mangalore Refinery, Sanofi India and Vedant Fashions were trading in the red.
Sensex had surged 463 points, or 0.76 per cent, to settle at 61,112 on Friday, while Nifty had closed 150 points, or 0.84 per cent, up at 18,065. The domestic benchmarks were closed on Monday due to Maharashtra Day.
Nifty outlook
"The nearest peaks of 18,134 and 18,200 are the two challenges for the day. Meanwhile, outright slippage past 18,000 also would be sufficient to signal weakness, but bargain hunting may resurface as long as 17,880 holds," said Anand James, Chief Market Strategist at Geojit Financial Services.