Sensex climbs 382 points; Nifty approaches key resistance amid an IT-led rally

On Tuesday, India’s key stock indexes closed up, buoyed by rises in IT, metal, and consumer‑durable shares, while investors stayed wary ahead of crucial India‑US trade talks.

The Nifty rose 100.95 points, a 0.43% gain, finishing at 23,483.55, and the Sensex climbed 382.50 points, up 0.52%, to settle at 74,649.84.

Analysts noted that the 23,500‑23,550 band continues to act as a key near‑term resistance for the Nifty.

“A clear break above this zone would likely lift sentiment and open the path to a move toward the 23,750‑23,800 area,” said one analyst.

“On the flip side, the 23,300‑23,250 band remains a vital support level,” the expert added.

Strong buying in major IT names such as Tata Consultancy Services, Infosys and HCL Technologies drove the market, making them the top Nifty gainers.

In the Sensex pack, TCS led the advances, followed by Infosys, HCL Technologies, Adani Ports and Tech Mahindra.

On the downside, NTPC was the biggest decliner, with Axis Bank, Power Grid, Bajaj Finance and Bajaj Finserv also among the top losers.

Broader markets finished higher as well; the Nifty MidCap index added 0.18% and the Nifty SmallCap index rose 0.40% in the session.

Sector‑wise, the Nifty IT index posted the strongest rise, while the Nifty Consumer Durable, Nifty Auto and Nifty FMCG indexes also beat the overall market.

Defensive groups lagged, as the Nifty Pharma and Nifty Healthcare indexes closed lower.

Market mood stayed centred on the continuing India‑US trade negotiations.

A US team headed by Assistant Trade Representative for South and Central Asia Brendan Lynch kicked off a three‑day meeting in New Delhi on Tuesday with Indian officials to wrap up the initial phase of the proposed bilateral trade pact.

Investors are watching the talks closely, since hopes of progress in the trade deal keep bolstering market sentiment.

“Now that the earnings season is mostly over, investors are turning their attention to macro drivers such as monsoon progress, inflation trends, RBI policy and liquidity conditions,” noted a market expert.