Mumbai, Feb 4: The Indian stock market on Tuesday ended on a strong note with both the BSE Sensex and NSE Nifty closed with gains of more than1 per cent as investors closely monitored tariff-related developments in the United States.

The Sensex, after touching the day's high of 78,658.59, settled at 78,583.81 with an increase of 1,397.07 points or 1.81 per cent from the previous close.

Meanwhile, the Nifty ended at 23,739.25, up by 387.20 points or 1.62 per cent. The index traded within a range of 23,762.75 to 23,423.15 during the intra-day trading session.

Among the Nifty 50 constituents, 39 stocks ended in positive territory, with Adani Ports, Shriram Finance, Larsen & Toubro and Bharat Electronics led the gains with an increase of up to 5.65 per cent.

On the other hand, Trent, ITC Hotels, Britannia, Hero MotoCorp, and Nestle India were the top losers, with their stocks declined by up to 6.44 per cent.

The broader market also performed well, mirroring the gains in the benchmark indices. The Nifty Midcap100 index rose by 1.56 per cent, while the Nifty Smallcap100 index ended with a gain of 1.09 per cent.

Sectorally, banking and financial stocks saw strong buying interest.

The Nifty PSU Bank and Private Bank indices surged by over 2 per cent each, while the Bank Nifty index, which tracks the performance of major banking stocks, climbed 1.93 per cent to close at 50,157.95.

Financial services and oil marketing companies also recorded solid gains, with the Nifty Financial Services and Nifty OMC indices ended over 2 per cent higher.

Additionally, the Nifty Metal, Pharma, and Healthcare indices rose by more than 1 per cent each.

The only sector that closed in the red was the Nifty FMCG index, which slipped 0.25 per cent as it weighed down by losses in stocks like Britannia and Nestle India. (IANS)

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