Sensex, Nifty End Higher As PSU Banks; Pharma Stocks Lead Gains

Indian benchmark indices ended higher on Monday after a volatile and range-bound trading session, supported by strong buying in public sector banks and pharmaceutical stocks.

The 30-share BSE Sensex gained 107.25 points, or 0.13 per cent, to settle at 81,106.65. The NSE Nifty advanced 58.25 points, or 0.23 per cent, to close at 25,044.65.

Market experts said the Nifty faces immediate resistance in the 25,150–25,200 range. A sustained breakout above this level could strengthen bullish momentum and pave the way for further gains.

On the downside, 24,800 remains a crucial support level. Holding above this mark will be important for the ongoing recovery. However, a decisive fall below it could trigger fresh selling pressure and short-term profit booking.

Investor sentiment remained mixed during the session, with selective buying in heavyweight stocks helping the benchmarks recover from intraday fluctuations. State Bank of India (SBI), Trent and Nestle India emerged as the top Nifty gainers.

Broader markets also closed in positive territory. The Nifty MidCap 100 rose 0.55 per cent, while the Nifty SmallCap 100 gained 0.1 per cent.

Among sectoral indices, the Nifty PSU Bank index outperformed, surging more than 3 per cent on strong buying in state-owned lenders. The Nifty Bank, Nifty Pharma and Nifty Healthcare indices also ended higher.

However, IT stocks remained under pressure. The Nifty IT index emerged as the worst-performing sector, limiting the overall market gains.

Analysts said intermittent profit booking following the recent rally, along with weakness in IT and metal stocks, capped gains during the session.

Investors are now awaiting India’s and the US’s inflation data for fresh indications about the interest-rate outlook. Crude oil prices, global market trends and institutional fund flows will remain key factors influencing market direction in the near term.

Also Read: Gold, Silver Prices Rally Up To 2 Pc As Softer Crude; Weaker Dollar Support Bullion