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Sensex, Nifty Rally on PSU Bank Gains Amid Positive Global Cues

Indian equity benchmarks extended gains for a second consecutive session, supported by strong buying in PSU banking and healthcare stocks. The Nifty closed 0.55% higher at 25,713, while the Sensex rose 0.58% to settle at 83,294.66. Positive global sentiment followed a US Supreme Court ruling on tariffs, though technology stocks remained under pressure with the Nifty IT index as the worst performer. Analysts noted immediate resistance for Nifty at 25,800 while highlighting ongoing concerns about potential trade tensions impacting exporters.

Key Points: Sensex, Nifty Gain as PSU Banks, Healthcare Stocks Lead Rally

  • Nifty gains 141.75 points
  • PSU Bank index up 1.36%
  • IT sector underperforms
  • Global cues positive after US tariff ruling
2 min read

Sensex, Nifty end higher as PSU banks, healthcare stocks lead gains

Indian stock markets rose for second day, with Sensex up 0.58%. Gains led by PSU banks and healthcare stocks amid positive global tariff news.

"On the downside, 25,500 continues to act as crucial immediate support - Analyst"

Mumbai, Feb 23

Indian stock markets extended their gains for the second straight session on Monday, supported by buying in PSU banks and healthcare stocks.

Positive global cues also boosted investor sentiment after the US Supreme Court ruled against the reciprocal tariffs announced by US President Donald Trump.

The benchmark Nifty ended 0.55 per cent higher, gaining 141.75 points to close at 25,713. The Sensex rose 0.58 per cent, or 479.95 points, to settle at 83,294.66.

Commenting on Nifty technical outlook, experts said that on the levels front, immediate resistance is seen at 25,800, followed by 25,900 where significant OI build-up is visible.

"On the downside, 25,500 continues to act as crucial immediate support," an analyst stated.

Among Sensex stocks, Adani Ports and Special Economic Zone led the gains with a rise of 2.82 per cent.

Other major gainers included Kotak Mahindra Bank, UltraTech Cement, Power Grid Corporation of India, Axis Bank and HDFC Bank.

On the losing side, technology stocks remained under pressure. Infosys, Tech Mahindra and HCL Technologies were among the top laggards. Other losers included Trent, Bajaj Finserv and ITC Limited.

However, the broader markets showed a mixed trend. The Nifty MidCap index declined 0.43 per cent, while the NSE SmallCap index managed to close 0.29 per cent higher.

Among sectoral indices, the Nifty PSU Bank index was one of the top performers, ending 1.36 per cent higher.

The Nifty MidSmall Healthcare index also gained 1.03 per cent. On the other hand, the Nifty IT index emerged as the worst-performing sector, followed by the Nifty Chemicals index.

Market experts said that while global cues turned positive after the US court ruling on tariffs, concerns remain over the impact of potential trade tensions.

Analysts believe that tariff-related uncertainties could weigh on Indian exporters in sectors such as textiles, pharmaceuticals, gems and jewellery, and machinery.

Analysts said that the markets ended in positive territory for the second consecutive day, supported by gains in banking and healthcare stocks, even as investors remained cautious about global trade developments.

- IANS

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Reader Comments

P
Priya S
As a small investor, these green numbers are a relief. But the article rightly points out the caution needed. IT stocks down again... my portfolio is feeling the pinch. Need to diversify more into pharma maybe.
R
Rohit P
The US Supreme Court ruling is a big deal. Less trade war tension is good for global markets, and India benefits. But we can't get complacent. Our exporters in textiles and gems need stable policies, not just favorable court rulings abroad.
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Sarah B
Interesting to see healthcare and PSU banks leading. Seems like a defensive shift by investors amidst the global uncertainty. The mixed trend in broader markets (midcap down, smallcap up) shows selective buying. Wise move.
V
Vikram M
Sensex above 83k is fantastic! But let's be real, these gains aren't trickling down to the common man yet. Inflation is still high. Stock market rallies are good, but I hope the government focuses on ground-level economic issues too.
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Karthik V
Adani Ports leading the charge again! The resilience of some of our conglomerates is impressive. However, the underperformance of the MidCap index is a slight concern. Need all segments firing for a healthy bull run. 🚀

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