MUMBAI — Indian benchmark indices ended higher Tuesday, led by gains in information technology, metal and consumer durable stocks, as investors watched a new round of India-U.S. trade negotiations.
The Nifty rose 100.95 points, or 0.43%, to close at 23,483.55. The Sensex gained 382.50 points, or 0.52%, to end at 74,649.84.
Analysts said the 23,500 to 23,550 range remains an important near-term resistance zone for the Nifty.
“A sustained breakout above this range could improve market sentiment and pave the way for a recovery toward the 23,750–23,800 levels,” an analyst said.
“On the downside, the 23,300–23,250 zone continues to serve as a crucial support area,” the analyst added.
Heavyweight IT stocks supported the market, with Tata Consultancy Services, Infosys and HCL Technologies among the top gainers on the Nifty. In the Sensex pack, TCS led the advances, followed by Infosys, HCL Tech, Adani Ports and Tech Mahindra.
NTPC was among the biggest laggards, while Axis Bank, Power Grid, Bajaj Finance and Bajaj Finserv also declined.
Broader markets finished in positive territory. The Nifty MidCap index rose 0.18%, while the Nifty SmallCap index gained 0.40%.
Among sectoral indices, Nifty IT led the gains. Nifty Consumer Durables, Nifty Auto and Nifty FMCG also outperformed the broader market. Defensive sectors were weaker, with Nifty Pharma and Nifty Healthcare ending lower.
Investor attention remained on trade talks between India and the United States. A U.S. delegation led by Assistant U.S. Trade Representative for South and Central Asia Brendan Lynch began a three-day round of negotiations with Indian officials in New Delhi on Tuesday to finalize the first tranche of a proposed bilateral trade agreement.
Market participants are closely watching the talks, with expectations of progress in the trade pact helping support sentiment.
“With the earnings season largely concluded, investor focus has shifted to key macro factors including monsoon progress, inflation trends, RBI policy, and liquidity conditions,” a market expert said. (Source: IANS)
