The rally was led by a mix of financial and industrial stocks; Bajaj Finance, Bajaj Finserv, Tata Steel, UltraTech Cement, Larsen & Toubro and Asian Paints posted gains, while Tata Consultancy Services, Infosys, HDFC Bank and Mahindra & Mahindra lagged.
Brent crude, the global oil benchmark, slipped 0.97% to $98.29 a barrel, a move that market observers said eases pressure on India’s inflation outlook and external balances, given the country’s heavy reliance on imported energy.
“The moderation in crude prices offers some relief on the broader macroeconomic front, particularly for India given its dependence on imported energy,” said Ponmudi R, CEO of Enrich Money. “However, continued foreign investor selling remains a key headwind for domestic equities, particularly as uncertainty over the Middle East continues to weigh on global risk appetite.”
Foreign Institutional Investors (FIIs) sold equities worth ₹3,809.99 crore on Tuesday, September 22, a factor that kept the market’s upside limited despite the crude‑price relief. The Sensex had closed the previous day down 329.91 points at 74,529.08, and the Nifty was down 85.30 points at 23,329.
Across the region, South Korea’s Kospi traded in positive territory, while China’s Shanghai Composite and Hong Kong’s Hang Seng indices slipped, reflecting mixed sentiment in Asian markets.
In the United States, Wall Street ended Tuesday’s session mixed, with technology stocks buoying the Nasdaq while the Dow Jones Industrial Average fell, a pattern that offered little directional cue for Indian investors, according to Hariselvan Radhakrishnan, Founder & CEO of HST Wealth.
Analysts note that while the crude‑price dip provides short‑term comfort, the persistence of foreign outflows and geopolitical uncertainty could keep Indian equities vulnerable to further volatility.