MUMBAI, India — Indian equity markets extended their upward momentum for a second consecutive session on Monday, led by strong buying in PSU bank and healthcare stocks, while positive global cues further lifted investor sentiment.
The benchmarks advanced after a ruling by the U.S. Supreme Court against reciprocal tariffs announced by President Donald Trump, easing near-term concerns around global trade and boosting risk appetite.
The Nifty rose 141.75 points, or 0.55 percent, to close at 25,713, while the Sensex gained 479.95 points, or 0.58 percent, to end the session at 83,294.66.
Market participants said the Nifty faces immediate resistance around the 25,800 level, followed by 25,900, where significant open interest buildup has been observed. On the downside, 25,500 continues to act as a key near-term support level.
Among Sensex constituents, Adani Ports and Special Economic Zone was the top gainer, rising 2.82 percent. Other notable gainers included Kotak Mahindra Bank, UltraTech Cement, Power Grid Corporation of India, Axis Bank and HDFC Bank.
Technology stocks remained under pressure, weighing on the broader market. Infosys, Tech Mahindra and HCL Technologies were among the top losers. Other stocks ending lower included Trent, Bajaj Finserv and ITC Limited.
Broader market performance was mixed. The Nifty MidCap index declined 0.43 percent, while the NSE SmallCap index managed to close 0.29 percent higher.
Among sectoral indices, the Nifty PSU Bank index was one of the strongest performers, ending the session up 1.36 percent. The Nifty MidSmall Healthcare index also posted solid gains, rising 1.03 percent. In contrast, the Nifty IT index emerged as the worst-performing sector, followed by the Nifty Chemicals index.
Market experts said that while global sentiment improved following the U.S. court ruling on tariffs, uncertainties related to trade policies remain a concern. Analysts cautioned that prolonged tariff-related tensions could impact Indian exporters, particularly in sectors such as textiles, pharmaceuticals, gems and jewellery, and machinery.
Despite these concerns, analysts said the markets closed firmly in positive territory for a second straight day, supported by strength in banking and healthcare stocks even as investors continued to monitor global trade developments closely. (Source: IANS)
