Market Wrap, Oct 7: Indices end higher for fourth day as SENSEX rises 136 points, NIFTY50 at 25,108; Jio Fin leads gains

The Indian stock market closed higher for the fourth consecutive session on Tuesday, October 7, supported by a rally in realty stocks and positive global cues.

The broader market outperformed the major equity indices, led by Vodafone Idea’s strong contribution to the Nifty Midcap 100.

According to exchange data, on Monday, the foreign institutional investors (FIIs) sold equities worth ₹313.7 crore on a net basis, while the domestic institutional investors (DIIs) purchased ₹5,036.39 crore worth of equities.

Globally, across Asia, equity indices closed higher on Tuesday, with Japanese markets continuing to outperform. Japan’s benchmark indices hit fresh record highs as the election of a fiscally dovish prime ministerial candidate tempered expectations of further interest rate hikes by the Bank of Japan.

However, due to market holidays in China, Hong Kong, and South Korea, overall trading volumes across Asia remained muted.

Japan's Nikkei settled 0.14% higher, while the Straits Times of Singapore gained 1.13%.

On Wall Street, the S&P 500 and Nasdaq closed at record highs on Monday, supported by optimism around artificial intelligence-related dealmaking, even as the US government shutdown stretched into its sixth day. The blue-chip Dow Jones, however, edged slightly lower.

The Dow Jones Industrial Average slipped 63.31 points, or 0.14%, to end at 46,694.97; the S&P 500 advanced 24.49 points, or 0.36%, to close at 6,740.28; and the Nasdaq Composite rose 161.16 points, or 0.71%, to settle at 22,941.67.

As many as 3,184 stocks traded on the NSE on Tuesday. Out of this, 1,434 advanced and 1,635 declined, while 115 scrips remained unchanged.

This, however, indicates that the market breadth favoured declines.

A total of 99 stocks hit their 52-week highs, while 90 stocks touched their one-year lows. Besides, 112 stocks hit their upper circuit limits, and 67 touched their lower circuit bands on Tuesday.

NSE-listed firms' market capitalisation stood at ₹457.72 lakh crore at the end of the session.

The volatility index India VIX slipped 1.39% to close at 10.05 levels.

The NIFTY Midcap 100 index climbed 0.47%, ending at 58,289.40 levels, while the NIFTY Smallcap 100 gauge settled 0.31% higher at 17,983.40 levels.

Among sectors, Nifty Realty led the gains with 1.09% of the rally. Nifty Oil and Gas (0.49%), Nifty Pharma (0.44%), Nifty Consumer Durables (0.38%) and Nifty Auto (0.28%).

Meanwhile, Nifty FMCG (-0.53%), Nifty Media (-0.46%), Nifty PSU Bank (-0.41%), Nifty Metal (-0.28%) and Nifty IT (-0.04%) were the top losers.

On Tuesday, 22 stocks advanced on the NIFTY50 index, while 27 settled with losses and one remained unchanged.

Jio Financial Services was the most contributing stock, gaining 1.42%, followed by Bharti Airtel (1.35%), HCL Technologies (1.26%), Bajaj Auto (1.23%) and Eicher Motors (1.13%).

On the flip side, Axis Bank (-2.04%), Tata Motors (-2.04%), Trent (-1.93%), Tata Consumer Products (-1.59%) and Hindalco Industries (-1.25%) were the biggest losing scrips on the 50-share index.