Mumbai — Indian equity benchmarks ended modestly higher Thursday, supported by gains in automobile stocks as investors continued to monitor geopolitical developments in West Asia.
The Sensex rose 273.55 points, or 0.35%, to close at 77,928.15. The Nifty gained 66.95 points, or 0.28%, to settle at 24,317.15.
Mahindra & Mahindra, Coal India and Eicher Motors were among the top gainers on the Nifty, helping the index remain in positive territory during an otherwise mixed trading session.
Broader markets underperformed the benchmark indices. The Nifty MidCap index declined 0.35%, while the Nifty SmallCap index fell 0.56%.
Among sectors, the Nifty Realty index was the biggest laggard, dropping 2%. The Nifty Chemical index also closed lower and underperformed the broader market.
The Nifty Auto, Nifty Oil & Gas and Nifty Consumer Durables indices outperformed, providing support to the benchmarks and limiting the effect of weakness in other sectors.
Market analysts said the 24,300-to-24,400 range remained an important near-term resistance zone for the Nifty.
“A sustained move and close above this band will be essential to confirm stronger bullish momentum and could pave the way for an advance toward the 24,500-to-24,600 resistance zone, where the next significant supply is expected to emerge,” an analyst said.
On the downside, analysts identified 24,200 as the first support level, followed by the psychologically important 24,000 mark.
Investors remained cautious throughout the session as they tracked developments in West Asia, keeping trading largely range-bound despite the benchmarks’ positive close. (Source: IANS)
