Midday Market Report: Sensex gains 250 pts; Nifty advances to 23,725; energy, pharma, and metals rally

Indian equity markets rebounded on Tuesday, with the Sensex climbing 250 points to 78,200 and the Nifty crossing 23,725, tracking overnight gains in the US.

The rally was driven by strong performance in energy, healthcare, pharma, and metal sectors.

At noon, the Sensex rose by 288 points or 0.37 per cent, while the Nifty surged 122 points or 0.52 per cent.

Leading gainers included Tata Motors (+2.29 per cent) and ONGC (+4.83 per cent), while IT heavyweights like TCS (-1.95 per cent) and Infosys dragged the indices.

Sectorally, energy indices led the gains (+1.73 percent), followed by healthcare, pharma, and metals, all up over one percent. Broader markets also mirrored the upbeat sentiment, with the Nifty Midcap 100 and Smallcap 100 climbing by 0.83 percent and 0.87 percent, respectively.

Meanwhile, foreign institutional investors (FIIs) continued their selling spree, offloading Rs 2,575.06 crore worth of equities on Monday. However, domestic institutional investors (DIIs) offset the pressure, buying Rs 5,749.65 crore of stocks.

The India VIX fell 6.35 per cent, indicating easing market volatility.

Globally, positive cues came from Wall Street’s tech rally, with the Nasdaq and S&P 500 registering back-to-back gains.