Mumbai, Feb 9 (PTI) Benchmark equity indices Sensex and Nifty extended their gains for the second straight session on Monday, driven by robust buying across all segments after India and the US reached a trade deal, putting an end to tariff uncertainties.

The 30-share BSE Sensex jumped 485.35 points, or 0.58 per cent, to close at 84,065.75. During the day, the benchmark surged 734.28 points, or 0.87 per cent, to hit an intraday high of 84,314.68.

The 50-share NSE Nifty appreciated by 173.60 points, or 0.68 per cent, to settle at 25,867.30. During the session, the index climbed 228.55 points, or 0.88 per cent, to hit a high of 25,922.25.

Among the 30-share constituents, State Bank of India, Titan, UltraTech Cement, Tata Steel, Eternal, Bharat Electronics Ltd, Kotak Mahindra Bank, IndiGo, Trent, Mahindra & Mahindra, Larsen & Toubro, Sun Pharmaceuticals, and Asian Paints were the gainers.

On the other hand, PowerGrid, NTPC, ITC, ICICI Bank, Infosys, HDFC Bank, Tech Mahindra, Maruti Suzuki India and Axis Bank were the laggards.

"Positive signals from the trade deal, coupled with the return of FIIs, fuelled a risk-on sentiment in the market. Investors are closely watching upcoming results, with PSU banks delivering stronger-than-anticipated performance, helping the PSU bank index outperform," Vinod Nair, Head of Research, Geojit Investments Ltd, said.

He added that an accumulation strategy was observed in consumer durables and real estate stocks following the recent correction, driven by expectations of a demand revival.

"The recovery was broad-based, with sectors such as cement, capital goods, textiles, and consumer discretionary attracting investor interest, supported by Union budget proposals and favourable trade deals," Nair said.

On the BSE, the Smallcap Select index rose 2.31 per cent, while Midcap Select index went up 1.27 per cent.

Among sectoral indices, PSU Bank climbed the most by 2.83 per cent, followed by Consumer Durables (2.76 per cent), Realty (2.64 per cent), and Commodities (2.06 per cent). While Industrials and Telecommunication rose by 1.94 per cent each, Capital Goods increased 1.89 per cent, Consumer Discretionary gained 1.73 per cent, and Metal went up by 1.54 per cent.

"Markets traded with strength on Monday and remained firmly in positive territory, supported by encouraging global cues and optimism around an interim India-US trade framework.

"The benchmark indices opened higher, with the Nifty moving above the 25,800 level in early trade and holding gains through the session to finally close at 25,867.30," Ajit Mishra – SVP, Research, Religare Broking Ltd, said.

He added that buying interest was widespread, with realty, metal and pharma among the top gainers, while midcap and smallcap segments also posted notable advances, signalling an improvement in risk appetite after the recent bout of weakness.

"Investor sentiment was lifted by reports that India and the United States have moved closer to a trade agreement that includes tariff reductions and deeper economic cooperation," Mishra added.

A total of 3,110 stocks advanced, while 1,254 declined and 163 remained unchanged on the BSE.

In Asian markets, Japan's Nikkei 225 index, South Korea's Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng index closed higher.

European markets were quoting higher. US markets ended higher on Friday.

Brent crude, the global oil benchmark, declined 0.81 per cent, to USD 67.52 per barrel.

Foreign institutional investors (FIIs) bought equities worth Rs 1,950.77 crore on Friday, according to exchange data.

On Friday, the 30-share BSE Sensex advanced 266.47 points to settle at 83,580.40, while the NSE Nifty climbed 50.90 points to end at 25,693.70. PTI HG HVA