Mumbai — Indian equity benchmarks closed higher Thursday, supported by late-session buying and gains in PSU bank, healthcare, metal and realty stocks, even as weakness in the IT sector limited the upside.
The Sensex rose 254.36 points, or 0.33 percent, to settle at 77,409.98. The Nifty gained 82.30 points, or 0.34 percent, to close at 24,168.00.
Market sentiment improved in the second half of the session, helping the benchmark indices recover and finish in positive territory.
Analysts said the 24,200 level has emerged as the immediate resistance for the Nifty.
“A sustained breakout above this level would reinforce bullish momentum and could pave the way for an extension of the rally towards the 24,400 region, which represents the next significant upside target,” an analyst said.
“On the downside, the psychological 24,000 mark is expected to act as an important immediate support level. Holding above this zone will be crucial to preserve the ongoing recovery structure and maintain the positive momentum. However, a decisive break below 24,000 could trigger fresh profit booking and drag the index towards the 23,900 support region,” a market expert said.
Buying in public sector banks, healthcare and real estate stocks supported the broader market.
Among Nifty stocks, Adani Enterprises, InterGlobe Aviation and Max Healthcare Institute were the top gainers of the day.
Among Sensex constituents, Adani Ports, InterGlobe Aviation, Trent, NTPC, Bharat Electronics Limited, HDFC Bank and State Bank of India were among the major gainers, helping the indices close in the green.
The broader market also ended higher. The Nifty MidCap index rose 0.41 percent, while the Nifty SmallCap index advanced 0.44 percent.
Sectorally, the Nifty PSU Bank, Nifty Healthcare, Nifty Realty and Nifty Consumer Durables indices outperformed the broader market. Healthcare stocks led the gains, with the Nifty Healthcare index rising 0.98 percent.
Information technology stocks remained under pressure. The Nifty IT index fell 1.19 percent, making it the worst-performing sectoral index of the session.
“Going forward, market participants will continue to monitor developments in the US-Iran talks, crude oil prices, and foreign fund flows,” an analyst said.
Meanwhile, the rupee strengthened by around 16 paise to 94.32, extending its gains for a fifth consecutive session.
“Technically, the rupee remains well supported, with the near-term trading range seen between 94.00 and 94.75,” the analyst said. (Source: IANS)
