New Delhi, 03 November (H.S.): The Indian stock market continued its strong upward momentum for the fourth consecutive trading session on Tuesday, closing sharply higher amid heavy buying in the fast-moving consumer goods (FMCG) sector and optimism over a proposed tax relief measure for foreign portfolio investors (FPIs) on long-term capital gains.

Market sentiment remained broadly positive throughout the session, with investors actively purchasing shares across large-cap, mid-cap and small-cap segments. Supported by widespread buying, both benchmark indices, the BSE Sensex and the NSE Nifty, ended the session at their respective intraday highs. The sharp rally added nearly Rs 4 lakh crore to investors' wealth in a single trading session.

The market maintained a firm trend from the opening bell, with sustained buying in heavyweight stocks keeping both benchmark indices in positive territory throughout the day. Although the indices largely held on to their gains during the session, buying intensified across the board in the final 15 minutes, pushing both benchmarks to their intraday peaks. At the close, the Sensex had gained 1.62 per cent, while the Nifty advanced 1.58 per cent.

The BSE Sensex opened at 76,288.65, gaining 595.87 points, or 0.79 per cent. Buying emerged soon after the commencement of trading, helping the index build momentum. However, a brief bout of profit-booking dragged the Sensex to an intraday low of 76,033.74.

The market subsequently witnessed broad-based buying in heavyweight stocks, particularly in the FMCG and private banking sectors. Buying gathered further momentum during the final trading session, lifting the Sensex by 1,225.07 points, or 1.62 per cent, to close at its intraday high of 76,917.85.

The NSE Nifty followed a similar trajectory, opening at 23,582.25, up 141.45 points, or 0.60 per cent. Buying activity picked up during the early trading hours, allowing the index to advance steadily. However, brief profit-booking led to a temporary decline, taking the Nifty to an intraday low of 23,482.80.

Buying subsequently regained momentum, with investors stepping up purchases across several sectors. Supported by widespread gains, the Nifty crossed the 23,800 mark for the first time since September 7 and eventually settled at 23,810.85, registering a gain of 370.05 points, or 1.58 per cent.

Among sectoral indices, FMCG stocks emerged as the biggest outperformers of the session. Strong buying propelled the Nifty FMCG index up 3.65 per cent, with all 15 constituent stocks ending in positive territory.

Private banking stocks also attracted considerable investor interest, taking the Nifty Private Bank index up by nearly 2 per cent. The Realty index gained more than 2 per cent, while the Auto index advanced 1.71 per cent.

In contrast, public sector banking stocks faced selling pressure. The Nifty PSU Bank index declined 1.27 per cent, making it the notable underperformer among the major sectoral indices.

The broader market also recovered from initial pressure and ended largely higher, with mid-cap and small-cap stocks maintaining a positive trend. The Nifty Midcap 100 index closed 1.06 per cent higher, while the Nifty Smallcap 100 index registered a gain of 0.31 per cent.

The strong performance of the benchmark indices, both of which settled at their intraday highs, coupled with widespread buying across the broader market, significantly boosted investors' wealth.

The total market capitalisation of companies listed on the BSE rose to Rs 4,86,74,306.36 crore (provisional) at the close of trading, compared with Rs 4,82,74,651.52 crore at the end of the previous trading session on Monday. This translated into an increase of Rs 3,99,654.84 crore (provisional) in investors' wealth in a single day.

The BSE's advance-decline figures also reflected the broad-based strength in the market. Of the 4,606 stocks traded on the exchange during the session, 2,510 closed with gains, while 1,895 ended lower. Another 201 stocks remained unchanged. In addition, 100 stocks touched their 52-week highs, while 13 stocks hit the upper circuit.

On the NSE, a total of 3,307 stocks witnessed active trading. Of these, 1,928 ended in positive territory, while 1,379 closed with losses.

Among the 30 constituents of the Sensex, 25 stocks advanced and five declined. On the Nifty, 38 of the 50 constituent stocks closed higher, 11 ended lower, and one remained unchanged.

At the individual stock level, BSE Ltd emerged as the top gainer on the National Stock Exchange, surging 5.03 per cent to close at Rs 3,665.70.

Nestle followed with a gain of 4.47 per cent at Rs 1,248.40, while Tata Consumer Products jumped 4.29 per cent to Rs 1,073. Asian Paints advanced 3.99 per cent to Rs 2,437.80, and Bharti Airtel rose 3.77 per cent to close at Rs 2,065. These stocks constituted the top five gainers of the session.

Despite the broader market rally, Power Grid Corporation came under selling pressure and emerged as the biggest loser, declining 3.04 per cent to close at Rs 259.55.

State Bank of India fell 1.70 per cent to Rs 970.25, while ONGC declined 1.13 per cent to Rs 232.17. Infosys slipped 1.11 per cent to Rs 1,148.10, and Adani Enterprises shed 0.84 per cent to close at Rs 2,593.30, featuring among the session's top five losers.

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Hindusthan Samachar / Jun Sarkar