Sensex rises 136 points, Nifty ends above 25,100 as banking stocks lift markets

Indian equity markets continued their upward trajectory for the fourth consecutive trading session on Tuesday, driven by strong performances in key index constituents including ICICI Bank, HDFC Bank, and Bharti Airtel.

The BSE Sensex climbed 136 points (0.17%) to settle at 81,926, while the NSE Nifty gained 30.65 points (0.12%) to close at 25,108.3.

Market analysts noted the Nifty’s sustained upward momentum, maintaining its position firmly above the crucial 25,000 threshold. “The broader market sentiment remains positive, with consistent buying activity emerging during minor corrections,” experts observed.

“The immediate resistance zone appears between 25,100 and 25,220 levels. A decisive breakout above this range could potentially propel the index toward new highs,” market strategists commented.

They added: “Should the benchmark fail to overcome this barrier, we might witness temporary consolidation around 25,000, which would likely attract fresh buying interest rather than significant selling pressure.”

Broader market indices maintained their positive momentum, with the Nifty Midcap 100 index rising 0.47% and the Nifty Smallcap 100 index advancing 0.31%, indicating robust participation beyond large-cap stocks.

Sectoral performance showed real estate stocks leading gains, with the Nifty Realty index jumping 1.09%. Significant buying activity was also witnessed in oil & gas, pharmaceuticals, consumer durables, healthcare, banking, automobile, and energy sectors.

Conversely, FMCG, PSU banks, media, metals, and information technology stocks faced selling pressure, ending the trading day in negative territory.

Market specialists highlighted that continued accumulation in index heavyweights and improving investor confidence are sustaining the current rally, though participants remain watchful ahead of quarterly earnings announcements and global macroeconomic developments.

“Following three successive strong closes, the Nifty encountered resistance near 25,200-25,250 during Tuesday’s session, suggesting potential consolidation in the near term,” technical analysts noted.

They concluded: “The overall outlook remains favorable as long as the index trades above the 24,900 support level, coinciding with its 50-day exponential moving average.”

(With inputs from IANS)