Benchmark indices Sensex and Nifty extended their gains and closed above key psychological levels on October 30, supported by continued buying interest in large-cap stocks. However, Brent crude oil prices remained elevated, keeping macroeconomic concerns and investor caution intact.
The Nifty 50 gained 0.51% to close at 23,053, while the Sensex rose 0.42% to 74,459.
On the sectoral front, IT, Pharma and Financial Services were the key gainers, while Media, Energy, PSU Banks and Auto remained the major laggards.
The broader market underperformed the frontline indices, with the Nifty Midcap 100 declining 0.93% and the Nifty Small cap 100 falling sharply by 1.85%, indicating continued selling pressure in mid- and small-cap stocks.
Regarding short-term outlook for the benchmark index Nifty, analysts said upside could be expected as long as it holds the 22,800-mark.