Indian equities surged on Thursday, June 26, buoyed by strong buying in financials, metals, and oil marketing companies, alongside easing geopolitical tensions and robust domestic institutional support. The GIFT Nifty traded 0.73% higher at 25,261 as of 6:15 am, indicating another upbeat session ahead.
Both benchmark indices rallied significantly — the Sensex jumped 1,003 points (1.21%) to 83,759, and the Nifty 50 climbed 304 points (1.21%) to close at 25,549, hitting a nine-month high and nearing their September 2024 peaks.
Key Highlights:
- Nifty Bank recorded an all-time high, gaining 586 points to 57,207, driven by heavyweights HDFC Bank and ICICI Bank.
- Midcap and Smallcap indices also continued their winning streak with over 0.5% gains each.
- Four Nifty stocks—Bharti Airtel, HDFC Bank, HDFC Life, and Grasim—touched record highs.
- Hindustan Copper rose nearly 5% on stronger global copper prices.
- Cement stocks like Dalmia Bharat gained on demand optimism.
- IOC, BPCL, and HPCL advanced 3% on falling crude oil prices.
- Investor wealth rose by ₹3.33 lakh crore as BSE market cap hit ₹457.33 lakh crore.
Sectoral Performance:
- Nifty Metal index led the rally with a 2.3% rise, all constituents ending in the green.
- Nifty Oil & Gas index rose 1.86% amid crude price softness.
- Brainbees Solutions surged 17%, while Apar Industries, Raymond Lifestyle, and Nuvama Wealth Management gained between 2–5%.
Drivers Behind the Rally:
1. Middle East Tensions Ease
Investor sentiment improved as a fragile ceasefire between Iran and Israel held for a second day. US President Donald Trump announced a truce and upcoming diplomatic talks between US and Iranian officials, calming fears of broader regional conflict.
2. Trump-Fed Conflict Weakens Dollar
The US Dollar Index fell to a three-year low of 97 after Trump criticized Fed Chair Jerome Powell, raising concerns over the central bank’s independence and contributing to global market shifts.
3. Strong Domestic Institutional Support
Despite foreign portfolio investors (FPIs) selling ₹5,670 crore in June so far, domestic institutional investors (DIIs) have stepped in with net purchases worth ₹70,000 crore, including over ₹36,000 crore from mutual funds alone.
4. Positive Trade Developments
India and the US are reportedly finalizing a mini trade deal under a Bilateral Trade Agreement (BTA), with negotiations to extend India’s exemption from Trump’s reciprocal tariffs—slated for July 9—progressing steadily.
With GIFT Nifty signaling another strong session and macroeconomic signals stabilizing, Indian equities are likely to maintain their bullish momentum, especially if global headwinds continue to ease and domestic liquidity remains robust.
Disclaimer:
The information provided in this blog is for educational and informational purposes only. It does not constitute investment advice, a recommendation, or an offer to buy or sell any financial instruments. Stock market investments are subject to market risks. Past performance is not indicative of future results. Readers are advised to consult a qualified financial advisor before making any investment decisions. The author and publisher are not liable for any losses or damages arising from the use of this information.
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