Sensex and Nifty News: Indices Rally for Fourth Straight Day; OMCs, PSU Banks Lead Surge

Market Performance

Indian stock markets continued their upward momentum for the fourth straight session on Friday, June 27, as both the Sensex and Nifty ended the day in the green.

• Sensex gained 303 points or 0.36% to close at 84,058.90
• Nifty rose 88.80 points or 0.35%, settling at 25,637.80

The indices have rallied over 2% this week, reflecting strong market sentiment driven by easing geopolitical concerns and encouraging overseas inflows.

Market breadth remained positive with:

• 2,134 stocks advancing
• 1,727 stocks declining
• 140 stocks unchanged

Main News

Heavyweight players, including Reliance Industries, ICICI Bank, and Bharti Airtel, supported the positive momentum. A stable handover from Wall Street, along with hopes for a potential US-India trade deal, also helped boost investor confidence.

The easing tensions in the Middle East, following recent diplomatic developments, contributed to the decline in crude oil prices, fueling optimism across Indian equities.

In parallel, market watchers kept a close eye on the upcoming July 9 tariff deadline, initially imposed by the U.S. under a 90-day suspension. While uncertainties linger, official remarks from the White House suggested the deadline may not be binding, which helped soothe market nerves.

Company Details

Several companies made headlines during the session:

• Akzo Nobel India shares surged over 9% after JSW Paints announced it will acquire up to 74.76% stake in the company, with a maximum deal size of ₹8,986 Crore.
• Jio Financial Services climbed 4% after SEBI approved Jio BlackRock Broking to operate as a stockbroker and clearing member.
• IndusInd Bank jumped nearly 4% amid reports suggesting Rajiv Anand of Axis Bank is a leading candidate for the CEO role.

Sectoral Highlights

The trading session saw mixed performance across sectors, with Oil & Gas, PSU Banks, and Metals emerging as the biggest gainers.

The Nifty Oil & Gas index led sectoral performance, driven by the sharp decline in crude prices. Meanwhile, the IT and Realty sectors faced mild corrections due to profit booking.

Volatility Update

Market volatility continued to ease:

• India's VIX dropped 1.83% to 12.36, signaling a reduction in investor anxiety and a more stable trading environment.

Summary of the Article

• Sensex rose 303 points, and Nifty climbed 88.80 points, marking the fourth day of consecutive gains.
• Oil marketing companies (OMCs) led the rally as crude prices declined.
• Midcap and Smallcap indices posted substantial gains, extending their six-session winning streak.
• Global cues, diplomatic developments, and a possible US-India mini-trade deal added momentum to Indian equities.
• Akzo Nobel India, Jio Financial Services, and IndusInd Bank were major stock-specific gainers.
• The market outlook remained optimistic despite the upcoming July 9 U.S. tariff deadline.