Daijiworld Media Network - Mumbai
Mumbai, Jun 22: Indian equity markets ended Monday's session on a positive note, supported by robust buying in information technology and pharmaceutical stocks, while easing global crude oil prices further strengthened investor confidence.
The benchmark BSE Sensex advanced 291.17 points, or 0.38 per cent, to close at 77,094.07. The Nifty 50 also finished higher, gaining 90 points, or 0.37 per cent, to settle at 24,102.90.
Market analysts said the 24,200 mark remains a key resistance level for the Nifty in the near term.
“A decisive breakout above 24,200 would strengthen bullish momentum and could open the path towards the 24,400 level, which is the next important upside target,” an analyst said.
On the downside, experts identified the 24,000–23,900 range as an important support zone that could cushion any short-term decline.
Investor sentiment remained upbeat amid the continued softening of international crude oil prices, which provided support across several sectors of the market.
The day's gains were largely driven by sustained buying in technology and healthcare stocks.
Among the top performers on the Nifty were Cipla, Infosys, Tech Mahindra and Dr. Reddy's Laboratories, which posted strong gains and helped offset weakness in some consumer-focused segments.
The broader market also remained firm, indicating wider participation from investors. The Nifty MidCap index rose 0.34 per cent, while the Nifty SmallCap index gained 0.6 per cent.
Sectoral performance remained mixed. The Nifty IT, Nifty Pharma and Nifty Healthcare indices emerged as the strongest performers, benefiting from sustained buying interest and positive sector-specific sentiment.
In contrast, the Nifty FMCG and Nifty Consumer Durables indices ended in negative territory, making them the weakest-performing sectors during the session.
Analysts said softer crude prices and selective buying in defensive sectors such as healthcare, along with continued interest in technology stocks, helped support the market, even as investors remained cautious ahead of important domestic and global economic developments.