Indian equity markets extended gains for the second consecutive session on Monday, buoyed by positive sentiment following the announcement of an interim framework for the India–US trade deal and supportive cues from Asian markets.
At the close of trade, the Sensex advanced 485 points, or 0.58 per cent, to settle at 84,065, while the Nifty climbed 173 points, or 0.68 per cent, to end at 25,867.
Broader markets outperformed the benchmark indices. The Nifty Midcap 100 gained 1.58 per cent, while the Nifty Smallcap 100 surged 2.64 per cent, reflecting improved risk appetite among investors.
Sector-wise, buying interest was seen across the board. PSU banks, consumer durables, realty, defence, pharma and auto stocks recorded strong gains, while IT stocks traded mixed amid continued assessment of global technology sector developments.
All sectoral indices closed in positive territory. Nifty Media emerged as the top performer, rising 4.37 per cent, followed by Nifty Consumer Durables, which climbed 3.60 per cent. Nifty PSU Bank gained 3.34 per cent, Nifty Realty rose 2.61 per cent and Nifty Metal added 1.56 per cent.
Market participants said participation remained selective after the sharp initial rise, as investors avoided aggressive positions ahead of key global and domestic macroeconomic cues.
Analysts noted that the market appears to be in a phase of gradual recovery and consolidation, with near-term direction likely to be influenced by global macro developments, currency movements and foreign fund flows.
In the currency market, the rupee strengthened by 0.12 per cent to close at 90.68 against the US dollar.
On the technical front, immediate support for the Nifty is seen in the 25,550–25,600 range, followed by a stronger support zone around 25,450–25,500. Bank Nifty is consolidating in the 60,500–60,700 range, indicating consolidation after recent gains rather than distribution.
-IANS
