The surge in the Sensex and Nifty can be attributed to robust global cues and positive budgetary announcements.
The BSE Sensex rose 846.64 points to 72,491.94, while the Nifty surged 256.55 points to 21,954.
The offering is priced in the range of Rs 129-Rs 135 per share and is expected to be worth Rs 311 crore.
India's stock market value surpassed the USD 4 trillion mark for the first time on December 5, 2023, with significant growth observed in the past four years.
Reliance Industries, Tata Consultancy Services, HDFC Bank, Hindustan Unilever, and State Bank of India's market valuations declined among the top 10 companies.
Banking shares faced significant selling pressure as all 12 Nifty Bank index constituents traded with cuts. The selling activity was triggered by negative commentary on HDFC Bank's below-par third quarter figures, impacting sentiment across the sector.
The Sensex rose by 30.99 points, while the Nifty index climbed by 31.85 points on Tuesday.
On the broader market front, the Nifty Midcap 100 and Nifty SmallCap 100 also demonstrated positive momentum, closing 0.81% and 1.06% higher, respectively.
The 30-share BSE Sensex climbed 252.87 points to 65,533.32 in early trade. The NSE Nifty advanced 76.1 points to 19,407.90.
The Sensex closed at 64,718 with a jump of 803 points and the Nifty closed at 19,189 with a gain of 216 points.
The 30-share BSE index fell 216.28 points or 0.34 per cent to settle at 63,168.30. During the day, it declined 336.75 points or 0.53 per cent to 63,047.83.
The 30-share BSE Sensex jumped 367.98 points to 62,915.09 in early trade. The NSE Nifty advanced 75.35 points to 18,609.50.
Domestic indices BSE Sensex and NSE Nifty 50 opened in the green today.
Both the stocks fell sharply amid reports that the merged HDFC entity could see significant outflow.
While Reliance Industries, HDFC Bank, ICICI Bank, SBI, Bharti Airtel, Bajaj Finance and HDFC were the laggards from the top-10 pack, TCS, Hindustan Unilever and Infosys emerged as the gainers.
Earlier this week, rating agency Fitch reduced India's projected gross domestic product growth for the current fiscal year from 7.8% to 7% due to a slowdown brought on by increased inflation, global economic stress, and tighter RBI monetary policy.
From the Sensex pack, IndusInd Bank, Bharti Airtel, HCL Technologies, Axis Bank, Tech Mahindra, Kotak Mahindra Bank, HDFC, Infosys, HDFC Bank, and Reliance Industries were major laggards in early trade.
NTPC, ITC, Bajaj Finance, Kotak Mahindra Bank, Larsen & Toubro, Titan, Mahindra & Mahindra, and Asian Paints were among the gainers in early trade.
HDFC twins and ICICI Bank also declined. HUL, Dr Reddy's, L&T, Titan, Nestle, Tata Steel, Maruti and Sun Pharma were also among the losers. On the other hand, Bajaj Finserv bucked the trend, spurting by 5.58 per cent. Bharti Airtel and Reliance Industries advanced as the spectrum auction started.
The 30-share BSE Sensex rose 427.49 points or 0.80 per cent to close at 54,178.46. The broader NSE Nifty advanced 143.10 points or 0.89 per cent to 16,132.90.
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