Indian equity markets continued their winning streak for a fourth consecutive session, with late buying interest driving benchmark indices higher by the close. The Nifty closed up 0.68%, gaining 155.40 points to settle at 23,123.65, while the Sensex rose 0.69%, or 507.73 points, to end at 74,616.58. Analysts suggest that the momentum could push the index towards the 23500-23600 resistance band, a critical hurdle due to heavy OI concentration and previous swing high.
Buying momentum strengthened towards the end of the session, helping the indices stay in positive territory despite earlier cautious sentiment. Notable gains were seen in IT and metal stocks, with companies like Wipro, Hindalco Industries, Tata Consultancy Services, and HCLTech emerging as top performers on the Nifty. Investors are keeping a close watch on the outcome of the Reserve Bank of India’s Monetary Policy Committee meeting scheduled for Wednesday.
In the broader market, performance was mixed, with the Nifty MidCap index closing marginally higher by 0.20% and the Nifty SmallCap index slipping slightly by 0.06%. Sectoral indices such as IT, realty, and metal stocks performed well, driven by sector-specific buying interest. Conversely, the PSU banking space experienced selling pressure, with the Nifty PSU Bank index being the biggest laggard of the session. Analysts note that market sentiment remains cautiously optimistic as investors balance global uncertainties and domestic policy expectations.
