Mumbai, Feb 20 (LatestNewsX) The Indian equity benchmarks posted strong gains on Friday, led by gains in metals and PSU bank stocks.
At the closing bell, Sensex gained 316 points, or 0.38 per cent to settle at 82,814. Nifty added 116 points, or 0.46 per cent, to close at 25,571.
Nifty Midcap 100 index performed in line with the benchmark as it gained 0.48 per cent, while the NSE Smallcap 100 declined 0.11 per cent. Nifty Next50 surged 0.62 per cent.
Sectoral indices traded mostly in the green except Nifty IT, the major loser, down 0.98 per cent and media, down 0.28 per cent. All other indices were in green, with PSU bank being the major gainer, up 1.68 per cent. Nifty Metal gained 1.25 per cent.
The overall market breadth leaned slightly negative with 2,043 stocks advancing against 2,511 stocks declining.
Broad-based buying was seen across sectors with strong interest also in power, capital goods and FMCG stocks, which helped a strong rebound after a volatile start to the session, analysts said.
The recovery gathered pace through the day as investors stepped in to accumulate quality names at lower levels, reversing early weakness, analysts said.
However, near-term caution continues to linger amid persistent US–Iran geopolitical tensions and mixed global cues, analysts said, adding that overall trading conditions remain range-bound, with the market awaiting clearer directional triggers.
The Indian rupee traded slightly stronger, gaining 0.02 per cent, to touch 90.99 against the dollar.
Bank Nifty posted a technically strong rebound and sustained above the 61,200 region, signalling a shift in market structure from supply dominance to buyer control, market participants said.
The 61,000 zone acts as a critical support level, while 61,350–61,400 acts as the immediate resistance band, they added.
aar/na
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