Market surge: Sensex rises 455 points, IT stocks top contributors

The domestic equity benchmark indices ended marginally higher on Tuesday led by gains in IT index heavyweights.At close, the Sensex was up 454.67 points or 0.63 percent at 72,186.09, and the Nifty was up 157.70 points or 0.72 percent at 21,929.40. About 1983 shares advanced, 1285 shares declined, and 58 shares unchanged.
Stocks and Sectors
BPCL, HDFC Life, HCL Technologies, TCS and Maruti Suzuki were the top gainers on the Nifty while losers included Power Grid Corporation, Britannia Industries, IndusInd Bank, ITC and Kotak Mahindra Bank.
On the sectoral front, except bank, FMCG and power, all other indices ended in the green with auto, oil & gas, capital goods, healthcare, metal and IT up 1-3 percent each.BSE midcap and smallcap indices rose 1 percent each.
On 06 Feb'24,the Indian rupee stayed flat at 83.03 against the US dollar in early trade on Tuesday amid volatile crude oil prices in the overseas market.
The Indian currency, however, found support from positive sentiment in the domestic equity markets and sustained inflow of foreign funds, forex traders said.They also said investors are expected to move cautiously ahead of the Reserve Bank's monetary policy committee (MPC) meeting. The six-member rate-setting panel of the central bank will begin the deliberation on Tuesday and announce the outcome on Thursday.
Experts Take
Market experts have recommended nine stocks to buy for Tuesday- Eicher Motors, Radico Khaitan, Mcdowell-N, NCC, Pidilite Industries, Dalmia Bharat, Metropolis Health, Astra Micro, and BS.

(Writer is a Finance Research Analyst, based in Gandhinagar, Gujarat)