IT Stocks Lift Sensex, Nifty as Investors Watch India-U.S. Trade Talks
MUMBAI — Indian benchmark indices ended higher Tuesday, supported by gains in information technology, metal and consumer durable stocks, as investors monitored trade negotiations between India and the United States.
The Nifty rose 100.95 points, or 0.43%, to close at 23,483.55. The Sensex advanced 382.50 points, or 0.52%, to finish at 74,649.84.
Market analysts said the 23,500 to 23,550 range remains an important immediate resistance zone for the Nifty.
“A sustained breakout above this range could improve market sentiment and pave the way for a recovery toward the 23,750–23,800 levels,” an analyst said.
“On the downside, the 23,300–23,250 zone continues to serve as a crucial support area,” the analyst said.
Buying in heavyweight IT stocks helped lift the market, with Tata Consultancy Services, Infosys and HCL Technologies among the top gainers on the Nifty.
In the Sensex pack, TCS led the gainers, followed by Infosys, HCL Technologies, Adani Ports and Tech Mahindra. NTPC was the biggest laggard, while Axis Bank, Power Grid, Bajaj Finance and Bajaj Finserv also ended among the top losers.
Broader markets also closed in positive territory. The Nifty MidCap index rose 0.18%, while the Nifty SmallCap index gained 0.40%.
Among sectoral indices, Nifty IT led the gains. Nifty Consumer Durables, Nifty Auto and Nifty FMCG also outperformed the broader market.
Defensive sectors remained under pressure, with Nifty Pharma and Nifty Healthcare closing lower.
Investor attention remained focused on the ongoing trade discussions between India and the United States. A U.S. delegation led by Assistant U.S. Trade Representative for South and Central Asia Brendan Lynch began a three-day round of talks with Indian officials in New Delhi on Tuesday to finalize the first tranche of a proposed bilateral trade agreement.
Market participants are watching the negotiations closely, with expectations of progress in the trade pact helping support sentiment.
“With the earnings season largely concluded, investor focus has shifted to key macro factors including monsoon progress, inflation trends, RBI policy, and liquidity conditions,” a market expert said. (Source: IANS)
