Sensex and Nifty Reach New Highs, Banking Stocks Lead the Way
On June 25, the stock indices in India closed in green. The Sensex ended the day at 78,053.52, up by 712.44 points or 0.92%, while the Nifty closed at 23,721.30, up by 183.45 points or 0.78%, both touching new lifetime highs.
During the trading day, the Sensex surged over 600 points to cross the 78,164.71 level for the first time, and the Nifty crossed 23,700. The Bank Nifty also surpassed the 52,500 mark, showing strong momentum in the banking sector.
Ajay Bagga, a Banking and Market Expert, noted, “Private banks led the Sensex and Nifty up with the real estate stocks seeing correction.”
Among the sectoral indices, Banking, Financial services, IT, PSU banks, and Private Banks surged, while FMCG, Auto, Media, Metal, Pharma, Realty, Healthcare, Consumer Durables, and Oil and Gas sectors closed in red at the National Stock Exchange (NSE).
Banking stocks at BSE also performed well, with Axis Bank, ICICI Bank, and HDFC Bank seeing significant gains. Other top gainers included L&T, SBI, Tech Mahindra, Bajaj Finserve, Infosys, and UltraTech Cement. On the losing side were BPCL, Tata Steel, Power Grid, Asian Paints, NTPC, Adani Ports, SEZ, Nestle India, Maruti Suzuki, and Bharti Airtel.
The stock market opened in green on Tuesday, with Sensex starting at 77,507.32, up by 166.24 points, and Nifty opening 41.55 points up at 23,579.40.
Shrikant Chouhan, Head of Equity Research at Kotak Securities, said, “Among Sectors, Banking and Financial indices outperformed. Both the indices rallied over 1 percent whereas the Realty index shed nearly 2 percent. Technically, after a strong opening, the market held the positive momentum throughout the day.”
In international markets, European stocks fell following a significant drop in chipmaker Nvidia, impacting U.S. tech firms and reflecting concerns in the AI sector. Despite this, global stock markets remained near all-time highs as investors favored less volatile equities, according to Varun Aggarwal, MD of Profit Idea.
