Indian stock markets extended their positive momentum on Tuesday morning with the BSE Sensex surging over 765 points and the NSE Nifty rising by more than 203 points, driven by strong performances from key stocks like Hindustan Unilever, HDFC Bank, and IndiGo. Hindustan Unilever and HDFC Bank emerged as the top Sensex gainer with a 2.9 per cent jump each.

Indian stock markets extended their positive momentum on Tuesday morning with the BSE Sensex surging over 765 points and the NSE Nifty rising by more than 203 points, driven by strong performances from key stocks like Hindustan Unilever, HDFC Bank, and IndiGo. Hindustan Unilever and HDFC Bank emerged as the top Sensex gainer with a 2.9 per cent jump each.

Indian stock markets extended their positive momentum on Tuesday morning with the BSE Sensex surging over 765 points and the NSE Nifty rising by more than 203 points, driven by strong performances from key stocks like Hindustan Unilever, HDFC Bank, and IndiGo. Hindustan Unilever and HDFC Bank emerged as the top Sensex gainer with a 2.9 per cent jump each.

Hindustan Unilever jumped around 2.9 per cent shortly after opening bell, becoming the Sensex leader on Tuesday morning. Following the FMCG giant closely was private lender HDFC Bank, gaining 2.9 per cent. IndiGo also kept itself on top with a steady 2.4 per cent upward momentum. Together, they led the charge in the BSE benchmark, with Sensex spiking by as much as 765 points.

The NSE Nifty 50 also followed, gaining as much as 203 points shortly after markets opened. Major gainers apart from Hindustan Unilever (HUL), HDFC Bank, and IndiGo were Asian Paints, Sriram Finance, Tata Consumer Products, and UltraTech Cement.

Research market research saw Jefferies and Nomura maintain a BUY rating for HUL. Market watchers noted that the Q2 growth was the strongest in several quarters, supported by a low base on account of GST transition. Jefferies said that despite inflation sharply compressing gross margins, a combination of price hikes, lower advertising and promotional spending, and operating leverage limited the pressure on profit margins. 

HUL is now trading 5.3 per cent over one month. But it has fallen 8 per cent over three months, down 14 per cent over six months, and down 21 per cent over one year.

IndiGo CEO Willie Walsh made waves yesterday when he called for lower airport fees and taxes due to a jump in ATF prices and business costs. He said that the biggest domestic airline player in the country will continue to navigate through challenges. 

IndiGo, which recently posted its consolidated quarterly results, saw its Q2 capacity slump by 1 per cent, and passengers slump by 4.7 per cent. The airline’s yield—a marker of how much it earned for each unit of distance travelled by a paying passenger—rose more than 34 per cent to ₹6.3. The airline also trimmed its quarterly net loss to ₹18,791 million.

HDFC Bank last week also saw Anup Bagchi take over as MD and CEO from outgoing chief Sashidhar Jagdishan. 

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