Mumbai: Indian equity markets ended Thursday’s trading session on a positive note, with benchmark indices recovering in the second half of the day as buying in PSU banks, healthcare, metal and realty stocks offset weakness in the IT sector.
The BSE Sensex gained 254.36 points, or 0.33 per cent, to close at 77,409.98, while the NSE Nifty advanced 82.30 points, or 0.34 per cent, to settle at 24,168.00.
Market sentiment improved towards the close of trade as investors accumulated shares in public sector banks, healthcare and real estate companies, helping the benchmarks finish in positive territory.
Technical analysts said the 24,200 level has emerged as the immediate hurdle for the Nifty. A sustained move above this mark could strengthen bullish momentum and push the index towards the 24,400 level.
On the downside, analysts expect the 24,000 level to act as a key support. Holding above this psychological mark would keep the current recovery intact, while a fall below it could trigger profit booking and drag the index towards 23,900.
Among the top gainers on the Nifty were Adani Enterprises, InterGlobe Aviation and Max Healthcare Institute.
On the Sensex, major contributors to the rally included Adani Ports, InterGlobe Aviation, Trent, NTPC, Bharat Electronics Limited (BEL), HDFC Bank and State Bank of India.
The broader market also remained firm. The Nifty MidCap index rose 0.41 per cent, while the Nifty SmallCap index gained 0.44 per cent.
Sector-wise, PSU banks, healthcare, realty and consumer durables outperformed the broader market. The Nifty Healthcare index emerged as the best-performing sector, rising 0.98 per cent.
In contrast, information technology stocks continued to witness selling pressure. The Nifty IT index fell 1.19 per cent, making it the weakest-performing sector of the day.
Market participants will now keep a close watch on developments related to the US-Iran talks, global crude oil prices and foreign institutional investor (FII) flows, which are expected to influence market direction in the coming sessions.
Meanwhile, the Indian rupee strengthened by about 16 paise to close at 94.32 against the US dollar, extending its winning streak to a fifth straight session. Analysts expect the domestic currency to trade in the 94.00–94.75 range in the near term.
With inputs from IANS