Closing Bell: Indian market extends gains, Nifty settles above 15600

Domestic equity markets Sensex and Nifty 50 after a positive opening on Tuesday traded higher with gains seen across financial, oil & gas and IT shares pulling the indices higher.

Indian equity market extended its gains for the second straight session on Tuesday, led by a strong buying across all sectors. Today's much-needed relief rally came on the back of positive cues from the global stock market.

Overall, Asian stocks and Wall Street futures gained as the market tried to regain after a recent sell-off. US markets were closed on Monday for a holiday but look set for a higher opening tomorrow, with S&P 500 e-mini share futures surging 1.89% and Nasdaq e-mini share futures growing 1.99%. However, concerns regarding aggressive central bank rate hikes to trim inflation could spark a global recession loomed. Owing to these developments, headline indices ended higher for the second consecutive session with Nifty finishing above 15,600.

At the closing bell on June 21, the Sensex was up 934.23 points or 1.81% at 52,532.07, and the Nifty was up 288.60 points or 1.88% at 15,638.80. On the market breadth, 2428 shares have advanced, 819 shares declined, and 125 shares are unchanged.

Top Nifty gainers of the day were Titan Company, Hindalco Industries, JSW Steel, Coal India and Adani Ports, while the only losers today was Apollo Hospitals. Of the top trending stocks, Titan was the top Nifty gainer as the stock gained 6.03% to Rs 2,079.95. Also in the reckoning, Reliance Industries added the most to the index gain, rising 1.6%.

Sector-wise, all the indices finished in the green with IT, metal, oil & gas, power, realty and PSU Bank up 3-6%. In the broad markets, the BSE Midcap index climbed 2.4% and Smallcap index was up 3%. In the currency market, Indian rupee closed 10 paise lower at 78.08 per dollar on Tuesday against Monday’s close of 77.98.