Sensex, Nifty Close Higher as IT and Pharma Stocks Rally
Mumbai — Indian equity benchmarks ended higher Monday, supported by strong buying in information technology and pharmaceutical stocks, while easing crude oil prices improved investor sentiment.
The Sensex rose 291.17 points, or 0.38%, to close at 77,094.07. The Nifty gained 90 points, or 0.37%, to settle at 24,102.90.
Analysts said 24,200 remains the immediate resistance level for the Nifty.
“A sustained breakout above this level would reinforce bullish momentum and could pave the way for a further advance towards the 24,400 region, which remains the next significant upside target,” an analyst said.
“On the downside, the 24,000–23,900 region continues to serve as a crucial support zone,” the analyst added.
Continued weakness in global crude oil prices helped lift sentiment across sectors. IT and healthcare stocks led the gains, attracting sustained buying throughout the trading session.
Cipla, Infosys, Tech Mahindra and Dr. Reddy’s Laboratories were among the top performers on the Nifty. Gains in those stocks helped offset weakness in some consumer-oriented sectors.
The broader market also finished higher. The Nifty MidCap index gained 0.34%, while the Nifty SmallCap index advanced 0.6%, reflecting continued investor interest beyond large-cap stocks.
Sectoral performance was mixed. The Nifty IT, Nifty Pharma and Nifty Healthcare indices were the strongest performers, supported by sector-specific buying and positive sentiment.
The Nifty FMCG and Nifty Consumer Durables indices ended lower and were the day’s weakest-performing sectors.
Analysts said softer crude oil prices and selective buying in defensive and technology stocks supported the market, while investors remained cautious ahead of key domestic and global economic developments. (Source: IANS)
