The BSE Sensex rose 289 points, or 0.4%, to 81,826 in morning trade on Tuesday, as traders engaged in profit-taking after the index hit a 14-week low in the previous session following a holiday. Positive sentiment was supported by prospects of an India–European Union trade deal and hopes that the US may lift tariffs linked to India’s purchases of Russian oil. US Treasury Secretary Scott Bessent on Friday signalled the potential removal of an additional 25% tariff on India following a sharp reduction in Indian imports of Russian oil. However, persistent foreign outflows, mixed Q3 earnings, a weaker rupee, and global trade uncertainty capped gains. Metals, technology, and banking stocks mainly drove the index, with notable gains in Axis Bank (3.6%) after reporting a surprise rise in quarterly profit; UltraTech Cement (2.8%) after posting robust quarterly results; Adani Ports (2.8%); JSW Steel (1.7%); and NTPC (1.2%).
