March 6, Mumbai With the Sensex and Nifty finishing higher on Thursday, Indian stock markets held steady for the second straight day.

The 30-share Sensex gained 609.86 points, or 0.83 percent, and reached an intra-day high of 74,390.80 before closing at 74,340.09.

In a similar vein, the Nifty gained 207.40 points, or 0.93 percent, to close the day at 22,544.70. The index fluctuated between 22,556.45 and 22,245.85 over the day.

38 of the 50 Nifty equities ended the day higher, reflecting the generally bullish mood of the market.

With increases of up to 4.75 percent, Asian Paints, Coal India, BPCL, Hindalco, and Reliance Industries were the biggest gainers.

Tech Mahindra, Bharat Electronics, Trent, Britannia, and Kotak Mahindra Bank all had declines of up to 2.35 percent, while other companies closed the day in the red.

Gains were seen in various markets as the surge spread beyond the major indexes.

With a 1.32 percent spike in the Nifty Smallcap100 index and a 0.37 percent increase in the Nifty Midcap100 index, small-cap stocks were the main drivers of the market.

With the exception of the Nifty Realty index, which was the only sector to finish negative, the majority of sectoral indexes finished higher.

Rupak De of LKP Securities said that the Nifty is still rising and has closed the recent gap on the daily chart.

The RSI is now in a bullish crossing after rising from a historical low. The attitude seems to favor the bulls in the near term. The index may climb toward 23,750–23,800 on the top end. “Unless the Nifty drops below 22,300, the sentiment is probably going to stay strong,” De said.

The Indian stock market recovered well on March 5 as US Commerce Secretary Howard Lutnick hinted at possible tariff relief for Canada and Mexico. The Sensex and Nifty closed more than 1% higher.

This improved market confidence by raising optimism that more tariffs may be reexamined.

Experts said that although Rs 86,000 is a crucial resistance level in MCX, with support around Rs 84,500-Rs 84,000, gold continues to encounter significant resistance at $2,920-$2,930 in COMEX, causing profit booking.