Mumbai — Indian benchmark stock indexes recovered from early losses to finish higher Tuesday, supported by gains in healthcare, pharmaceutical and public sector bank shares.
The Sensex rose 286.98 points, or 0.37%, to close at 77,656.09, while the Nifty gained 115.50 points, or 0.48%, to settle at 24,334.55.
Among Nifty stocks, Adani Enterprises, Max Healthcare Institute and Apollo Hospitals Enterprise were among the top gainers, helping lift overall market sentiment.
Broader markets were mixed. The Nifty MidCap index advanced 0.54%, while the Nifty SmallCap index slipped 0.1%.
Sectoral performance was also uneven, with the Nifty Healthcare, Nifty Pharma and Nifty PSU Bank indexes outperforming the broader market. The Nifty Private Bank and Nifty Metal indexes remained under pressure.
Market analysts said anticipated U.S. sanctions against Iran were less severe than investors had expected, helping crude oil prices and bond yields retreat from recent highs.
“This relief in energy costs aided a moderately positive close today on the monthly expiry day,” an analyst said.
Investors are now awaiting upcoming inflation data and comments from the Federal Reserve chair later this week for additional signals on the outlook for inflation and interest rates.
“However, near-term cautiousness is expected to continue for Indian equities as unresolved U.S.-Iran tensions keep oil prices and bond yields relatively elevated, leaving investors sensitive to sudden shifts in the Middle East geopolitical landscape,” the analyst said.
Meanwhile, the Indian rupee outperformed other Asian currencies as heavy central bank intervention and falling crude oil prices supported the domestic currency.
“From a technical front, spot USDINR maintains immediate support near 95.25 alongside overhead resistance positioned at 95.75,” an analyst said. (Source: IANS)
