Indian stock markets continued their upward trend for the second consecutive day on Monday, driven by buying in PSU banks and healthcare stocks. The Nifty closed 0.55% higher, gaining 141.75 points to settle at 25,713, while the Sensex rose 0.58%, or 479.95 points, to end at 83,294.66. Market experts highlighted immediate resistance levels at 25,800 and 25,900, with 25,500 acting as crucial support.
Adani Ports and Special Economic Zone led the gains among Sensex stocks, rising by 2.82%. Other major gainers included Kotak Mahindra Bank, UltraTech Cement, Power Grid Corporation of India, Axis Bank, and HDFC Bank. Conversely, technology stocks like Infosys, Tech Mahindra, and HCL Technologies faced pressure, along with Trent, Bajaj Finserv, and ITC Limited.
While the broader markets showed a mixed trend, with the Nifty MidCap index declining by 0.43% and the NSE SmallCap index closing 0.29% higher, sectoral indices witnessed varied performances. The Nifty PSU Bank index stood out as one of the top performers, ending 1.36% higher, while the Nifty MidSmall Healthcare index also gained 1.03%. In contrast, the Nifty IT index performed poorly, followed by the Nifty Chemicals index.
Market experts noted that positive global cues, driven by the US court’s ruling on tariffs, supported the market sentiment. However, concerns lingered regarding potential trade tensions and their impact on Indian exporters in sectors like textiles, pharmaceuticals, gems and jewellery, and machinery. Despite these uncertainties, the markets closed positively for the second consecutive day, buoyed by the strength in banking and healthcare stocks.
