Sensex and Nifty End Higher; PSU Banks, IT Propel Rally

Indian equity benchmarks extended gains for a second consecutive session on Tuesday, with banking and technology counters driving the advance.

Investors continued selective accumulation despite subdued global signals.

The 30-share BSE Sensex settled at 83,450.96, advancing 173.81 points or 0.21 per cent.

The broader Nifty 50 concluded at 25,725.40, up 42.65 points or 0.17 per cent.

Market specialists observed that the rebound lifted the Nifty beyond the 25,700 threshold.

However, the index faced persistent supply pressure within the 25,760-25,800 resistance corridor.

This zone triggered periodic profit-taking. On the downside, declines towards the 25,550-25,600 support band attracted steady buying.

This demand-based curtailed sharper corrections.

Within the Sensex basket, ITC, BEL, Infosys, L&T, Asian Paints and Titan emerged as prominent gainers, rising as much as 2.3 per cent during trade.

Conversely, Eternal, Trent, Tata Steel, RIL, M&M and Bajaj Finserv lagged, retreating by up to 1.5 per cent.

The broader market mirrored the positive undertone. The Nifty MidCap index climbed 0.27 per cent, while the Nifty SmallCap index advanced 0.56 per cent.

Sectoral performance remained mixed. The Nifty PSU Bank index surged over 2 per cent, ranking as the session’s top performer.

The Nifty IT index also closed firmly, reflecting renewed investor interest in technology shares.

In contrast, the Nifty Metal index slipped nearly 1 per cent amid weakness in metal stocks.

Analysts indicated that information technology counters could witness further recovery.

Nearly Rs 5 trillion has eroded from the sector’s aggregate market capitalisation this year.

The correction has rendered valuations comparatively attractive, suggesting scope for a rebound.

Currency markets remained steady. The rupee traded in a narrow band near 90.68 against the dollar.

Participants awaited decisive movement in the dollar index or fresh portfolio flows.

Commodities weakened. Gold hovered below Rs 1,53,500, declining Rs 1,500.

CME gold futures dropped beneath $4,950, losing approximately $57 or 1.15 per cent, as easing geopolitical tensions curtailed safe-haven demand.

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