Indian shares closed at a two-week high on Tuesday, with the Nifty reclaiming the 24,300 mark as buying intensified in the final hour of trade. The benchmark ended at 24,335, up 116 points, or 0.48%, while the Sensex gained 287 points to 77,656. The Nifty had been under pressure earlier in the session but staged a sharp recovery towards the close.
The index gained about 1.5% during the August series, underscoring the resilience of large-cap stocks despite intermittent volatility. Here are five key trends from Tuesday's market:1. Last-hour buying turns the tide | The strongest feature of Tuesday's session was the late recovery.

The Nifty gained more than 200 points from its intraday low, with buying in heavyweight constituents helping the index finish at its highest level in about two weeks. ICICI Bank, Reliance Industries and Larsen & Toubro were among the biggest contributors.2.
Rupee, crude provide macro tailwinds | The rupee strengthened to 95.41 per US dollar from Monday's close of 95.75, while favourable moves in crude oil supported rate-sensitive and consumption-linked counters. Shriram Finance and IndiGo gained about 2% each amid the supportive currency and oil backdrop.

Asian markets also recovered from their early losses. South Korea's Kospi rose 0.8% after falling more than 4% intraday, while Japan's Nikkei 225 and Topix gained 0.5% each. Investors remained cautious ahead of Nvidia's results due Wednesday.3. Midcaps outperform even as breadth remains weak | The Nifty Midcap index rose 346 points, or about 0.5%, to 64,163, with Angel One, IREDA, Laurus Labs and Indus Towers among the notable gainers.
IREDA surged 5% after a sharp move in the final hour. However, the advance-decline ratio remained tilted towards declines at 4:5, suggesting that the headline index gains were not broad-based.4. Stock-specific action remains intense | Vodafone Idea surged 8% on healthy volumes, while One 97 Communications, or Paytm, gained 6% and closed above ₹1,700 a share for the first time in nearly five years.

At the other end, Hindustan Copper fell 7% after the government's offer for sale saw the non-retail portion fully subscribed. Hindustan Zinc declined 2% despite DIPAM Secretary indicating that there was no offer for sale in the near term.5. Federal Bank, Jana SFB in focus | Federal Bank declined about 3% after sources indicated that the lender may acquire a majority stake in Jana Small Finance Bank, sources told CNBC-TV18.
Jana promoter Jana Holdings, which held 16.9% as of June 30, is likely to sell its entire stake, potentially triggering an open offer. Jana has said it is evaluating opportunities in the ordinary course of business, while Federal Bank said it evaluates various opportunities for growth and expansion.

Jana Holdings also owes TPG Asia ₹700 crore, with a June 30 payment rolled over.