India’s benchmark stock market indices Sensex and Nifty spurted sharply on Tuesday, February 04, 2025. The BSE Sensex closed nearly 1,400 points higher at 78,583. While, the Nifty 50 index settled 1.62% up at levels of 23,739. Banking, IT stock rise abruptly Stocks like LT, Adani Ports, IndusInd Bank, RIL, Tata Motors, Ultra Cement, NTPC, HDFC Bank, Axis Bank, Kotak Mahindra Bank, Sun Pharma, Asian Paints, etc rallied the most among the Sensex pack. Nifty PSU Banks, Oil Gas highest gainers Among the National Stock Exchange’s (NSE) thematic indices, Nifty PSU Banks, Nifty Oil Gas and Nifty Metal registered highest gains. Stock Market On February 04, 2025: The Reserve Bank of India (RBI), Governor, Sanjay Malhotra, is all set to chair his first Monetary Policy Committee (MPC) meet under his tenure from Wednesday. Experts noted high chances of repo rate cut fuelled market rally on Tuesday. India’s Purchasing Managers Index (PMI) shot up to 6-month high of 57.7 in January 2025 backed by strong domestic and export demand. Asian stocks stage strong comeback The entire Asian markets erupted after the US President Donald Trump halted imposition of 25% tariffs on Canada and Mexico. Rupee recovers lost ground The rupee also recovered 13 paise from its all-time low closing level to 86.98 against the US dollar on Tuesday. Crude oil depletes $5 per barrel Albeit, crude oil continued its downward trajectory. In last few days, the energy resource has depleted by around $5 per unit. On Tuesday, benchmark crude oil prices traded nearly 1% down to $75.21 per barrel FIIs flight continues Overseas investors have continued to be bearish on domestic equities. According to the NSE data, on February 03, Foreign Institutional Investors (FIIs) sold shares worth ₹ 3,958.37 crore. While, Domestic Institutional Investors (DIIs) bought shares worth ₹2,708.23 crore. As of February 03, FIIs selling had stood at ₹78,028 crore, in the current calendar year.Original Article