The Indian stock market extended its upward trend for the second consecutive trading session on Tuesday, tracking a rally on Wall Street overnight amid hopes of potential Fed rate cuts next week.
The surge was led by gains in IT and pharma stocks, with a 5% increase in Nifty IT stocks, fueled by a rate cut hopes and a positive outlook from domestic brokerage firm Motilal Oswal.
Mid-cap and small-cap indices have outperformed the benchmark indices in today’s session.
Overall, the Nifty 50 ended the session with a gain of 0.42%, closing above the 25,000 mark at 25,041 points. Similarly, the S&P BSE Sensex also closed higher, with a surge of 0.43%, reaching 81,912 points.
