Healthcare, PSU Banks Lift Markets, Sensex & Nifty Reverse Early Losses
· Free Press Journal
Mumbai: Benchmark indices reversed early losses and finished the monthly-expiry session higher, powered by buying in healthcare, pharmaceutical and public sector bank shares. Moderating crude oil prices and bond yields improved risk appetite.
The Sensex climbed 286.98 points, or 0.37 percent, to settle at 77,656.09. The Nifty advanced 115.50 points, or 0.48 percent, to close at 24,334.55, marking a firm recovery from its weaker opening.
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Healthcare Stocks Drive Rally
Adani Enterprises, Max Healthcare Institute and Apollo Hospitals Enterprise ranked among the leading Nifty gainers, providing support to the headline index.
The broader market presented a mixed picture. The Nifty MidCap index gained 0.54 percent, indicating demand for medium-sized companies, while the Nifty SmallCap index slipped marginally by 0.1 percent.
Sectoral trade was similarly divided. The Nifty Healthcare, Nifty Pharma and Nifty PSU Bank indices outperformed the market. Conversely, private bank and metal shares faced selling pressure and restricted the overall advance.
Oil Retreat Lifts Sentiment
Market observers said the anticipated US sanctions against Iran proved less severe than expected. Consequently, crude oil prices and bond yields eased from recent peaks, offering relief to equities.
Lower energy costs supported the positive finish on the monthly derivatives expiry day. Softer crude is favourable for India because the country relies heavily on imported oil, while elevated prices can fuel inflation and strain the current account.
Investors Await Inflation Signals
Attention is shifting to inflation data and remarks from the US Federal Reserve Chair, which could provide clearer direction on inflation and interest rates.
Nevertheless, caution may persist. Unresolved US-Iran tensions continue to keep oil prices and bond yields elevated, leaving Indian assets vulnerable to geopolitical developments across the Middle East.
Meanwhile, the rupee led gains among Asian currencies as central bank intervention and falling crude prices strengthened the domestic unit. Technically, spot USD-INR has immediate support near 95.25, while resistance is positioned around 95.75. A decisive move beyond either boundary could determine the currency pair’s next short-term direction.