Sensex, Nifty Close Higher as PSU Banks, Healthcare and Realty Stocks Gain
Mumbai — Indian equity benchmarks ended higher on Thursday, supported by late-session buying and gains in PSU bank, healthcare, metal and realty stocks, even as weakness in information technology shares limited the upside.
The Sensex rose 254.36 points, or 0.33 percent, to close at 77,409.98. The Nifty gained 82.30 points, or 0.34 percent, to settle at 24,168.00.
Market sentiment improved in the second half of the session, helping the benchmark indices recover and finish in positive territory. Buying in public sector banks, healthcare and real estate stocks supported the broader market.
Analysts said the 24,200 level has emerged as immediate resistance for the Nifty.
“A sustained breakout above this level would reinforce bullish momentum and could pave the way for an extension of the rally towards the 24,400 region, which represents the next significant upside target,” an analyst said.
On the downside, analysts said the 24,000 level will be an important support zone.
“On the downside, the psychological 24,000 mark is expected to act as an important immediate support level. Holding above this zone will be crucial to preserve the ongoing recovery structure and maintain the positive momentum. However, a decisive break below 24,000 could trigger fresh profit booking and drag the index towards the 23,900 support region,” a market expert said.
Among Nifty stocks, Adani Enterprises, InterGlobe Aviation and Max Healthcare Institute were the top gainers.
In the Sensex pack, Adani Ports, InterGlobe Aviation, Trent, NTPC, Bharat Electronics Limited, HDFC Bank and State Bank of India were among the major gainers, helping the index close in the green.
The broader market also ended higher. The Nifty MidCap index rose 0.41 percent, while the Nifty SmallCap index advanced 0.44 percent.
Sectorally, PSU banks, healthcare, realty and consumer durables outperformed the broader market. The Nifty Healthcare index led sectoral gains, rising 0.98 percent.
Information technology stocks remained under pressure. The Nifty IT index fell 1.19 percent, making it the worst-performing sectoral index of the session.
“Going forward, market participants will continue to monitor developments in the US-Iran talks, crude oil prices, and foreign fund flows,” an analyst said.
The rupee also strengthened, trading about 16 paise higher at 94.32 and extending its positive trend for a fifth straight session.
“Technically, the rupee remains well supported, with the near-term trading range seen between 94.00 and 94.75,” the analyst said. (Source: IANS)
