Mumbai, Feb 17 (NationPress) The Indian benchmark indices concluded higher for the second day in a row on Tuesday, buoyed by a surge in public sector banks and information technology (IT) stocks, despite the global cues being predominantly subdued.

The 30-share Sensex wrapped up at 83,450.96, marking a rise of 173.81 points or 0.21 percent. Meanwhile, the broader Nifty closed at 25,725.40, gaining 42.65 points or 0.17 percent.

Experts indicated that the recovery propelled the index beyond the 25,700 mark; however, upward momentum faced resistance within the 25,760–25,800 range, leading to sporadic profit taking.

“On the downside, dips toward the 25,550–25,600 demand region consistently attracted buying interest, reinforcing this area as a short-term support base and averting any drastic breakdown,” an expert noted.

Within the Sensex roster, stocks like ITC, BEL, Infosys, L&T, Asian Paints, and Titan were among the leading gainers, soaring up to 2.3 percent during the session.

Conversely, stocks such as Eternal, Trent, Tata Steel, RIL, M&M, and Bajaj Finserv lagged, declining by as much as 1.5 percent.

The broader market also concluded positively. The Nifty MidCap index saw an increase of 0.27 percent, while the Nifty SmallCap index rose by 0.56 percent.

In terms of sector performance, the Nifty PSU Bank index surged over 2 percent, emerging as the top performer of the day.

The Nifty IT index also finished higher, showcasing renewed investment in tech stocks.

However, the Nifty Metal index dropped by approximately 1 percent, weighed down by declines in metal counters.

Analysts suggested that IT stocks might witness a rebound in the upcoming sessions after nearly Rs 5 trillion was wiped off their combined market capitalization this year.

Market experts remarked that the recent selloff in this sector may have rendered valuations appealing, indicating potential undervaluation and paving the way for recovery.

Analysts affirmed that the market managed to maintain gains for a second consecutive day, supported by selective buying in banking and IT shares, despite the lack of robust global triggers.

Meanwhile, the Rupee traded within a narrow band near 90.68 as participants awaited a definitive move in the dollar index or fresh cues from secondary market flows to guide direction.

Gold prices remained weak, trading below Rs 1,53,500, down Rs 1,500, as CME gold fell beneath $4,950, losing around $57 or 1.15 percent, with the easing geopolitical tensions reducing safe-haven demand.