Why is stock market rising today? 3 key factors driving Sensex and Nifty rebound

The Indian stock market recorded sharp gains on Tuesday, with Sensex and Nifty rising around 0.8% each despite soaring bond yields and oil prices spooking investors of its global peers.

Sensex jumped as much as 600 points to open at 75,370 while Nifty50 gained over 150 points to begin the session at 23,576 on Tuesday morning. The sharp gains added more than Rs 2 lakh crore to the total market capitalisation of all companies listed on BSE, pulling it up to Rs 484 lakh crore.

HCL Tech, Tech Mahindra, Infosys and TCS shares rallied up to 6% to lead gains on Sensex, while HDFC Bank shares jumped 3%. Booking the trend, BEL and Kotak Mahindra Bank shares dropped over 1% each.


Broader markets however remained in the red, with Nifty Midcap 100 and Nifty Smallcap 100 trading with marginal losses. Among the sectors, Nifty IT soared over 4% to lead gains, while Nifty Metal dropped 0.5%. The overall market breadth turned slightly positive, with NSE seeing 1,393 advances against 1,359 declines, while 182 stocks remained unchanged.


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