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Sensex, Nifty Extend Second Day of Gains on Pharma and Bank Strength

Analysts say the Nifty's breakout above a key average keeps the near-term trend positive.

Overview

  • The Sensex rose 329 points to 82,501 and the Nifty added 104 points to 25,285, posting a second consecutive advance.
  • Pharma and banking shares led the rise, while gains in select auto and energy stocks helped offset early pressure from IT.
  • After opening lower on IT weakness, the Sensex rebounded to an intraday high of 82,654, and the Nifty reached 25,331.
  • Analysts noted a breakout from recent consolidation with the Nifty holding above a critical moving average, setting near-term upside at 25,500–25,550 and support near 25,150.
  • Broader markets also firmed as the Nifty Midcap 150 and Smallcap 250 advanced, the PSU Bank index outperformed, and Cipla and SBI were among notable gainers.