Mumbai- Indian equity benchmarks extended their rally for a second consecutive session on Monday, buoyed by strong buying interest in PSU banking and healthcare stocks.
Investor sentiment also improved on positive global cues after the Supreme Court of the United States ruled against the reciprocal tariffs announced by US President Donald Trump.
The Nifty 50 ended 0.55 per cent higher, rising 141.75 points to close at 25,713. Meanwhile, the BSE Sensex advanced 0.58 per cent, gaining 479.95 points to settle at 83,294.66.
Sharing their technical view on the Nifty, market experts said immediate resistance is seen at the 25,800 level, followed by 25,900, where significant open interest build-up has been observed. On the downside, 25,500 continues to act as a crucial near-term support.
Among Sensex constituents, Adani Ports and Special Economic Zone topped the gainers’ list, rising 2.82 per cent. Other notable gainers included Kotak Mahindra Bank, UltraTech Cement, Power Grid Corporation of India, Axis Bank and HDFC Bank.
On the flip side, IT stocks continued to face pressure, with Infosys, Tech Mahindra and HCL Technologies among the top laggards. Other decliners included Trent, Bajaj Finserv and ITC Limited.
Broader markets, however, showed mixed performance. The Nifty Midcap 100 slipped 0.43 per cent, while the Nifty Smallcap 100 edged up 0.29 per cent.
Sector-wise, the Nifty PSU Bank index emerged as one of the top performers, ending 1.36 per cent higher. The Nifty MidSmall Healthcare index also gained 1.03 per cent. In contrast, the Nifty IT index was the worst-performing sector of the day, followed by the Nifty Chemicals index.
Market experts noted that although global cues turned positive following the US court ruling on tariffs, concerns persist over potential trade tensions. Analysts warned that tariff-related uncertainties could impact Indian exporters, particularly in sectors such as textiles, pharmaceuticals, gems and jewellery, and machinery.
Overall, markets closed in positive territory for the second straight session, supported by strength in banking and healthcare stocks, even as investors remained cautious about global trade developments.
With inputs from IANS