Mumbai, Nov 4: Indian stock markets continued their upward journey on Tuesday, with the Sensex and Nifty closing higher for the fifth consecutive trading session as strong buying in FMCG, real estate and metal shares lifted investor sentiment. Broader market indices also delivered impressive gains, while IT stocks remained under pressure.
The BSE Sensex climbed 383.55 points, or 0.50 per cent, to settle at 77,301.40. The NSE Nifty 50 advanced 149.75 points, or 0.63 per cent, to close at 23,960.60.
The continued rise reflects improving investor confidence, supported by positive corporate earnings expectations, resilient consumer demand and buying interest across several domestic sectors.
Nifty Faces Resistance Near 24,000
Despite the positive momentum, the Nifty struggled to cross the important psychological mark of 24,000. Market participants are closely watching this level, as a sustained move above it could provide further strength to the ongoing rally.
On the downside, the 23,750–23,700 range remains an important near-term support zone. Holding above this level could help maintain the positive market trend, while a decisive breakout above 24,000 may encourage fresh buying.
Midcap and Smallcap Stocks Outperform
Buying interest was particularly strong in the broader market, with midcap and smallcap shares outperforming the frontline indices.
The Nifty MidCap 100 gained 1.55 per cent, while the Nifty SmallCap 100 advanced 2 per cent, indicating wider participation in the market rally.
Among individual Nifty stocks, Bharat Electronics, Adani Enterprises and Titan Company emerged as the leading gainers.
The performance of broader indices suggests that investor interest is gradually spreading beyond large-cap companies, creating opportunities across different market segments.
FMCG, Metal and Realty Stocks Lead Sectoral Gains
Sector-wise, FMCG, metal, real estate and media stocks attracted strong buying, helping the domestic benchmarks maintain their upward momentum.
The Nifty IT index was the major exception, declining more than 1 per cent and emerging as the weakest sectoral performer.
The strength in consumption-oriented and real estate shares reflects investor interest in sectors that could benefit from domestic demand, festive spending and improving business activity. Metal stocks also supported the rally, while weakness in technology shares limited some of the market’s gains.
Budget Expectations and Corporate Earnings Support Sentiment
Positive expectations surrounding the upcoming Union Budget, encouraging quarterly earnings and resilient festive consumption have helped strengthen market sentiment.
Investors are increasingly looking for companies with stable earnings, healthy demand and strong business fundamentals. Expectations of possible tax relief have also contributed to optimism about household spending and consumption-led businesses.
However, global developments and geopolitical uncertainties continue to influence investment decisions. Changes in crude oil prices could also affect inflation, corporate operating costs and the broader economic outlook.
What Investors Should Watch Next
The market’s ability to sustain its five-session winning streak will depend on several factors, including corporate earnings, crude oil movements, global market trends and domestic economic developments.
For now, the Nifty’s resistance near 24,000 and support around 23,750–23,700 remain important levels to monitor.
The latest rally highlights improving confidence in Indian equities, but investors may need to remain selective rather than chase gains across all sectors. Companies with sound financial performance, sustainable demand and strong earnings visibility could remain in focus as the market navigates the next phase of trading.
