Mumbai, February 9: The Indian stock market closed in the green on Monday. By the end of the trading session, the Sensex rose by 485.35 points, or 0.58%, to reach 84,065.75, while the Nifty increased by 173.60 points, or 0.68%, closing at 25,867.30.
Most indices, including Consumer Durables, PSU Banks, Realty, India Defense, Metals, Pharma, and Healthcare, ended the day positively.
Among the gainers in the Sensex pack were SBI, Titan, Tata Steel, UltraTech Cement, Eternal, BEL, Kotak Mahindra Bank, Trent, Indigo, M&M, L&T, Adani Ports, and Asian Paints.
Conversely, Power Grid, ITC, NTPC, ICICI Bank, Infosys, HDFC Bank, Tech Mahindra, and Maruti were among the losers.
The market’s upward trend is attributed to a joint statement regarding the India-U.S. trade deal released on Sunday morning. This announcement indicated that U.S. tariffs on Indian exports have decreased from 50% to 18%, with zero duties on several exported goods.
Both large-cap and mid-cap stocks saw gains. The Nifty Midcap 100 Index closed up by 938.45 points, or 1.58%, at 60,441.15, while the Nifty Smallcap 100 Index rose by 447.25 points, or 2.64%, to finish at 17,385.90.
Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, noted that the market started strong but experienced some declines early on, trading within a limited range before closing at 25,867.
He further stated that the resistance level for Nifty is between 25,970 and 26,000. If Nifty breaks this level, it could rise to 26,200 and 26,400. In case of a downturn, support is expected between 25,780 and 25,750.
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