PSU Banks and Healthcare Stocks Propel Sensex and Nifty Higher
Synopsis
The Indian stock market continued its upward trend, fueled by robust performances from PSU banks and healthcare stocks. With the backdrop of positive global cues, analysts remain watchful of potential trade tensions impacting exporters.
Key Takeaways
PSU banks and healthcare stocks were significant contributors to market gains.
The Nifty index closed at 25,713 , while Sensex settled at 83,294.66 .
Immediate resistance for Nifty is at 25,800 .
Adani Ports led the market gains with a 2.82% increase.
Concerns about trade tensions are prevalent among analysts.
Mumbai, Feb 23 (NationPress) The Indian stock market experienced gains for the second consecutive session on Monday, driven by increased activity in PSU banks and healthcare stocks.
Investor sentiment was further lifted by positive international cues following a ruling from the US Supreme Court that dismissed the reciprocal tariffs imposed by President Donald Trump.
The benchmark Nifty index closed 0.55 per cent up, adding 141.75 points to finish at 25,713, while the Sensex saw a rise of 0.58 per cent, or 479.95 points, closing at 83,294.66.
Experts analyzing the Nifty's technical outlook noted that immediate resistance is anticipated at 25,800, with further resistance at 25,900, where significant open interest has accumulated.
“On the downside, 25,500 remains a critical support level,” stated one analyst.
In terms of performance among Sensex stocks, Adani Ports and Special Economic Zone emerged as a leader, increasing by 2.82 per cent.
Other notable gainers included Kotak Mahindra Bank, UltraTech Cement, Power Grid Corporation of India, Axis Bank, and HDFC Bank.
Conversely, technology stocks faced downward pressure, with Infosys, Tech Mahindra, and HCL Technologies being the most significant laggards. Additional stocks that declined included Trent, Bajaj Finserv, and ITC Limited.
The broader market presented a mixed outlook, with the Nifty MidCap index falling by 0.43 per cent, while the NSE SmallCap index managed a 0.29 per cent increase.
Among sector indices, the Nifty PSU Bank index was a standout performer, ending 1.36 per cent higher.
The Nifty MidSmall Healthcare index also registered a gain of 1.03 per cent. In contrast, the Nifty IT index was the worst-performing sector, followed closely by the Nifty Chemicals index.
Market analysts pointed out that although the global cues improved following the US court's ruling on tariffs, there are lingering concerns regarding the potential impact of ongoing trade tensions.
Experts believe that uncertainties surrounding tariffs might adversely affect Indian exporters in sectors such as textiles, pharmaceuticals, gems and jewellery, and machinery.
Despite the positive market close for the second day in a row, driven by banking and healthcare sector gains, investors remain cautious about developments in global trade.
Point of View
The recent gains in the Indian stock market reflect a resilient economy, bolstered by strategic sectors like banking and healthcare. Despite the positive indicators, a cautious outlook on global trade dynamics remains essential.
NationPress
20 Jun 2026
Frequently Asked Questions
What sectors contributed to the market gains?
The PSU banks and healthcare stocks were the primary contributors to the market gains on February 23.
How did the Nifty and Sensex perform?
The Nifty closed 0.55% higher at 25,713, while the Sensex rose by 0.58% to settle at 83,294.66.
What are the key resistance and support levels for Nifty?
Immediate resistance for Nifty is seen at 25,800, with support at 25,500.
Which stocks were the biggest gainers?
Adani Ports led the gains with a rise of 2.82%, followed by other stocks like Kotak Mahindra Bank and UltraTech Cement.
What concerns are analysts highlighting?
Analysts are concerned about potential trade tensions affecting Indian exporters, particularly in textiles and pharmaceuticals.
