Indian equity benchmark indices closed higher on Thursday, supported by fag-end buying and gains in PSU bank, healthcare, metal and realty stocks, even as weakness in the IT sector capped the upside.
The Sensex rose 254.36 points, or 0.33 per cent, to settle at 77,409.98, while the Nifty gained 82.30 points, or 0.34 per cent, to close at 24,168.00.
Commenting on Nifty technical outlook, experts said that the 24,200 level now emerges as the immediate resistance.
“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 mentioned.
Market sentiment improved in the latter half of the trading session, helping benchmark indices recover and end in positive territory.
Buying interest in public sector banks, healthcare and real estate counters provided support to the broader market.
Among the Nifty constituents, Adani Enterprises, InterGlobe Aviation and Max Healthcare Institute emerged as the top gainers of the day.
Among Sensex constituents, shares of Adani Ports, InterGlobe Aviation, Trent, NTPC, Bharat Electronics Limited, HDFC Bank and State Bank of India were among the major gainers, helping benchmark indices end the day in the green.
The broader market also witnessed positive momentum. The Nifty MidCap index ended 0.41 per cent higher, while the Nifty SmallCap index advanced 0.44 per cent.
Sectorally, the Nifty PSU Bank, Nifty Healthcare, Nifty Realty and Nifty Consumer Durables indices outperformed the broader market. The healthcare pack led the gains, with the Nifty Healthcare index climbing 0.98 per cent.
On the other hand, information technology stocks remained under pressure. The Nifty IT index declined 1.19 per cent, 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 stated.
Meanwhile, Rupee traded stronger by around 16 paise to 94.32, extending its positive trend for the fifth consecutive session.
“Technically, the rupee remains well supported, with the near-term trading range seen between 94.00 and 94.75,” the analyst mentioned.
