New Delhi — Indian equity benchmarks closed higher Tuesday as late-session buying helped the market recover momentum, with PSU banks, financial services and auto stocks leading the gains.
The Nifty rose 119.10 points, or 0.52%, to close at 23,242.10. The Sensex gained 394.50 points, or 0.54%, to end at 73,918.76 after strengthening in the final part of the trading session.
Market sentiment improved as investors took cues from stronger global risk appetite. Comments from U.S. President Donald Trump indicating that peace talks were underway with Iran, following a halt in hostilities between Iran and Israel, helped ease concerns over geopolitical tensions.
The broader market also saw strong buying. The Nifty MidCap index rose 1.35%, while the Nifty SmallCap index advanced 1.69%, showing wider participation beyond the frontline indices.
Among Nifty stocks, InterGlobe Aviation, Jio Financial Services and Eicher Motors were among the top gainers and helped support the benchmark index.
PSU banks were the strongest sectoral performers, with the Nifty PSU Bank index rising more than 3%. Realty, auto and financial services stocks also posted solid gains, helped by buying in rate-sensitive and cyclical sectors.
However, the rally was not broad-based across all sectors. IT and media stocks came under pressure, with the Nifty IT and Nifty Media indices ending among the top laggards.
Market analysts said the Nifty’s near-term direction will depend on whether it can sustain above the 23,300 level. A move above that mark could open the way for a recovery toward the 23,450 to 23,550 range, which is seen as the next key resistance zone.
“On the downside, the 23,100 region has emerged as an immediate intra-day support zone. However, a decisive break below 23,000 could trigger profit booking and drag the index towards the 22,800–22,700 support region,” an analyst said.
Analysts said the session remained constructive overall, with late buying helping the benchmarks finish higher despite weakness in select sectors. (Source: IANS)
