Sensex Gains 274 Points as Auto Stocks Lift Indian Markets
Mumbai — Indian equity benchmarks ended modestly higher Thursday, supported by gains in automobile, oil and gas, and consumer durable stocks, while investors remained cautious amid geopolitical tensions in West Asia.
The Sensex rose 273.55 points, or 0.35%, to close at 77,928.15. The Nifty gained 66.95 points, or 0.28%, to finish at 24,317.15.
Mahindra & Mahindra, Coal India and Eicher Motors were among the top gainers on the Nifty, helping the index remain in positive territory despite mixed trading across the market.
Broader market indices underperformed the benchmarks. The Nifty MidCap index declined 0.35%, while the Nifty SmallCap index fell 0.56%.
Among sectors, the Nifty Realty index was the worst performer, dropping 2%. The Nifty Chemical index also closed lower and trailed the broader market.
The Nifty Auto, Nifty Oil & Gas and Nifty Consumer Durables indices outperformed, offsetting weakness in other sectors and supporting the headline indices.
Market analysts said the 24,300-to-24,400 range remains an important resistance zone for the Nifty. A sustained close above that level could strengthen bullish momentum and open the way for a move toward the 24,500-to-24,600 range.
On the downside, analysts identified 24,200 as the first support level, followed by the key psychological mark of 24,000.
Trading remained largely range-bound as investors monitored developments in West Asia, limiting gains despite strength in select large-cap and sectoral stocks. (Source: IANS)
