Mumbai, Feb 23 (IANS) Indian stock markets extended their gains for the second straight session on Monday, supported by buying in PSU banks and healthcare stocks.
Positive global cues also boosted investor sentiment after the US Supreme Court ruled against the reciprocal tariffs announced by US President Donald Trump.
The benchmark Nifty ended 0.55 per cent higher, gaining 141.75 points to close at 25,713. The Sensex rose 0.58 per cent, or 479.95 points, to settle at 83,294.66.
Commenting on Nifty technical outlook, experts said that on the levels front, immediate resistance is seen at 25,800, followed by 25,900 where significant OI build-up is visible.
“On the downside, 25,500 continues to act as crucial immediate support,” an analyst stated.
Among Sensex stocks, Adani Ports and Special Economic Zone led the gains with a rise of 2.82 per cent.
Other major gainers included Kotak Mahindra Bank, UltraTech Cement, Power Grid Corporation of India, Axis Bank and HDFC Bank.
On the losing side, technology stocks remained under pressure. Infosys, Tech Mahindra and HCL Technologies were among the top laggards. Other losers included Trent, Bajaj Finserv and ITC Limited.
However, the broader markets showed a mixed trend. The Nifty MidCap index declined 0.43 per cent, while the NSE SmallCap index managed to close 0.29 per cent higher.
Among sectoral indices, the Nifty PSU Bank index was one of the top performers, ending 1.36 per cent higher.
The Nifty MidSmall Healthcare index also gained 1.03 per cent. On the other hand, the Nifty IT index emerged as the worst-performing sector, followed by the Nifty Chemicals index.
Market experts said that while global cues turned positive after the US court ruling on tariffs, concerns remain over the impact of potential trade tensions.
Analysts believe that tariff-related uncertainties could weigh on Indian exporters in sectors such as textiles, pharmaceuticals, gems and jewellery, and machinery.
Analysts said that the markets ended in positive territory for the second consecutive day, supported by gains in banking and healthcare stocks, even as investors remained cautious about global trade developments.
–IANS
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