The benchmark indices soared higher on June 26, extending gains for the third straight session. The 50-stock Nifty 50 index crossed the 25,500-mark for the first time since October last year. Both the BSE Sensex and Nifty 50 indices climbed over 1% each on positive global cues and easing geopolitical tensions.
The headline indices—Nifty 50 and BSE Sensex—closed at 25,549 and 83,755.87 points, respectively. For the first time since October, Nifty 50 closed over 25,500 points, sustaining its gains through the day’s session.
Markets sentiments remained buoyant following signs of de-escalation of tensions between Iran and Israel. Also, US President Donald Trump on Wednesday said that talks with Iran were likely to begin next week and hinted at the possibility of a new agreement aimed at halting Iran’s nuclear ambitions. Asian markets were largely higher and traded in the green, while futures indicated a positive opening for the US markets today.
Leading the gains on the Nifty 50 were Bharti Airtel, Bajaj Finance, Adani Ports, Hindalco Industries, Tata Steel, Jio Financial, and Shriram Finance. Reliance Industries shares climbed over 2%, logging an intraday high to its intraday high on the BSE, which pushed its market capitalisation over ₹20 trillion level once again after September 27, 2024.
On the flip side, Wipro, Tech Mahindra, and Dr. Reddy’s were among the few laggards. The sentiments remained buoyant in the broader market as well as the Nifty MidCap and Nifty SmallCap indices remained 0.3-1% higher.
All the major sectoral indices, barring three, traded in green today. Nifty Realty, Nifty Media and Nifty IT saw the sharpest decline, slipping 0.2-1%. Meanwhile, Nifty Metal and Nifty Oil and Gas indices climbed up by 2% each.
“On the higher side, 25320 would act as an immediate resistance zone for day traders (for Nifty 50). Successful breakout of 25320 can push the market towards 25450-25500,” Shrikant Chouhan, head equity research at Kotak Securities, had said in a note earlier today.
