Markets rise for 2nd day: Sensex up 400 pts, Nifty above 24,700 as IT, auto stocks lead gains

Sensex, Nifty extended gains for a second session in a row on Tuesday

Benchmark indices Nifty and Sensex kickstarted the session on a positive note and extended gains for a second session on Tuesday, August 12, as IT, auto and metal stocks lifted sentiment in the opening trade. The broader market, represented by the mid and smallcap indices, also mirrored positive trends to edge higher.

At 10 am, the Sensex was up 390.99 points or 0.49 percent at 80,995.07, and the Nifty was up 116.60 points or 0.47 percent at 24,701.65. About 2197 shares advanced, 1021 shares declined, and 120 shares remained unchanged.

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Sectoral indices were mostly in the green in early trade, with Nifty IT leading the gains, up 1.50 percent, followed by Nifty Media rising 1.20 percent, Nifty Auto up 0.96 percent, and Nifty Oil & Gas up 0.87 percent. Nifty Energy, Nifty Metal, Nifty Infra, and Nifty Midcap 100 also posted moderate gains. Nifty Bank edged up 0.08 percent, while Nifty Private Bank and Nifty FMCG saw small advances. Nifty Realty was the only major laggard, slipping 0.90 percent. Volatility remained subdued, with India VIX down 0.16 percent at 12.20.

Among individual stocks, Hyundai Motor India Ltd gained as much as 3 percent after Goldman Sachs initiated coverage with a buy call, citing positive levelers for growth. The international brokerage has set a price target of Rs 2,600 per share, implying an upside potential of 21 percent from the last close on the NSE. Goldman Sachs said the company has strong positioning to outpace peers, particularly in FY27–FY28.

Medi Assist Healthcare Services shares surged as much as 5 percent after the large deal involving shares worth Rs 578 crore took place in the block deal window. The firm witnessed a large trade in which 1.10 crore shares, representing 15.67 percent equity, changed hands for Rs 578 crore at Rs 523 per share in the block deal window. Earlier, reports had suggested that the promoter entity Bessemer India would clean out its stake in firm.

Shares of Bata India declined 3 percent to Rs 1,152 on August 12 after the footwear maker posted a lacklustre performance for the June quarter (Q1FY26). For the quarter ended June 30, 2025, consolidated net profit plunged 70 percent year-on-year to Rs 52 crore, dragged down by higher expenses, muted consumer demand, and an unfavourable high base effect. In the same quarter last fiscal, the company had reported a consolidated net profit of Rs 174 crore.

Technical View

Nifty, after slipping to a low of 24,350 in the previous session, staged a strong rebound to close near the 24,600 mark, easing sentiment to some extent. A decisive move above 24,630 would be needed to strengthen the bias, while immediate support lies at 24,300. Sustaining this level could pave the way for further gains in the coming sessions. Bank Nifty also recovered, taking support at its 100-EMA level of 54,950. The index faces stiff resistance around 56,000, with crucial support at 54,900. For the day, Nifty is expected to trade in the 24,400–24,800 range, while Bank Nifty’s range is seen between 54,800 and 56,200.

Tata Steel, Hero MotoCorp, Titan Company, Tech Mahindra, TCS and Reliance Industries were the top gainers on the Nifty. Laggards on the index included Bajaj Finance, Dr Reddy's, Grasim, Eternal, Hindalco, and Adani Enterprises.