Sensex, Nifty End Higher as Healthcare, Pharma and PSU Bank Stocks Gain
MUMBAI — Indian benchmark indices recovered from early losses to end Tuesday’s session higher, supported by gains in healthcare, pharmaceutical and public sector bank stocks.
The Sensex rose 286.98 points, or 0.37 percent, to close at 77,656.09, while the Nifty gained 115.50 points, or 0.48 percent, to settle at 24,334.55.
Among Nifty constituents, Adani Enterprises, Max Healthcare Institute and Apollo Hospitals Enterprise were among the top gainers.
Broader market performance was mixed. The Nifty MidCap index advanced 0.54 percent, while the Nifty SmallCap index slipped 0.1 percent.
Sectorally, the Nifty Healthcare, Nifty Pharma and Nifty PSU Bank indices outperformed the broader market. The Nifty Private Bank and Nifty Metal indices remained under pressure.
Market analysts said U.S. sanctions against Iran were less severe than investors had anticipated, helping crude oil prices and bond yields ease from recent highs.
“This relief in energy costs aided a moderately positive close today on the monthly expiry day,” an analyst said.
Investors are now awaiting upcoming inflation data and comments from the Federal Reserve Chair later this week for more clarity on the outlook for inflation and interest rates.
“However, near-term cautiousness is expected to continue for Indian equities as unresolved U.S.-Iran tensions keep oil prices and bond yields relatively elevated, leaving investors sensitive to sudden shifts in the Middle East geopolitical landscape,” the analyst said.
Meanwhile, the Indian rupee outperformed other Asian currencies, supported by central bank intervention and a decline in crude oil prices.
“From a technical front, spot USDINR maintains immediate support near 95.25 alongside overhead resistance positioned at 95.75,” an analyst said. (Source: IANS)
