MUMBAI– Indian equity benchmarks closed higher for a second consecutive session on Tuesday, led by gains in public sector banks and information technology stocks, even as global market cues remained subdued.
The 30-share Sensex ended at 83,450.96, up 173.81 points, or 0.21 percent. The broader Nifty closed at 25,725.40, gaining 42.65 points, or 0.17 percent.
Market participants said the recovery lifted the Nifty above the 25,700 level, though further upside faced resistance in the 25,760–25,800 zone, prompting intermittent profit-taking.
“On the downside, declines toward the 25,550–25,600 demand region continued to attract buying interest, reinforcing this area as a near-term support base and preventing any sharp breakdown,” an analyst said.
Among Sensex constituents, ITC, BEL, Infosys, Larsen & Toubro, Asian Paints, and Titan were among the top gainers, rising as much as 2.3 percent during the session.
Eternal, Trent, Tata Steel, Reliance Industries, Mahindra & Mahindra, and Bajaj Finserv were among the laggards, declining by up to 1.5 percent.
Broader markets also ended higher, with the Nifty MidCap index rising 0.27 percent and the Nifty SmallCap index gaining 0.56 percent.
Sectorally, the Nifty PSU Bank index surged more than 2 percent to emerge as the day’s top performer. The Nifty IT index also closed higher, reflecting renewed buying interest in technology stocks.
In contrast, the Nifty Metal index fell around 1 percent, weighed down by weakness in metal stocks.
Analysts said IT stocks could see a rebound in the coming sessions after nearly Rs 5 trillion was erased from the sector’s combined market capitalization so far this year. The recent selloff has made valuations more attractive, raising the possibility of a recovery, they added.
Market experts noted that benchmarks managed to hold gains for a second straight session on selective buying in banking and IT shares, despite the absence of strong global triggers.
In currency markets, the rupee traded in a narrow range near 90.68 against the dollar, as investors awaited clearer direction from the dollar index and secondary market flows.
Gold prices weakened, slipping below Rs 153,500, down about Rs 1,500, as CME gold futures fell below $4,950, losing roughly $57, or 1.15 percent, amid easing geopolitical tensions that reduced safe-haven demand. (Source: IANS)
