Best Street Race in Over a Month Sees All Join In

Large-caps, smids rise, as foreign, local investors see value at low levels

- Dipti Sharma

Bulls roared back to Dalal Street on Tuesday with both domestic and foreign investors scooping up Indian equities, sending the markets up by the highest in more than a month.

Experts said the sharp correction seen over the past six months encouraged investors to buy as stocks fell to attractive levels.

Broader indices of the small-cap and midcap variety joined the party as both benchmark indices—NSE Nifty 50 and BSE Sensex—spurted more than 1.5%, making investors richer by a staggering ₹7 trillion, according to data from BSE.

This was the biggest rise the indices have seen since 4 February, when they rose about 1.6%, and the fifth time this month in 11 trading days that the Nifty 50 has ended in positive territory, per data from NSE.

On Tuesday, the Nifty 50 settled at 22,834.30 and the Sensex ended the day's session at 75,301.26, both up 1.5%.

Meanwhile, Nifty Smallcap 250 ended 2.7% higher at 14,517.60 and Nifty Midcap settled at 49,516.90, up 2.18% on Tuesday.

Tuesday's rise was marked by net buys from both foreign institutional investors (FIIs) and domestic institutional investors (DIIs).

According to data from BSE, DIIs net bought Indian equities worth ₹2,534 crore, while FIIs net bought ₹695 crore.