After facing a continuous fall for the past three sessions, the Indian stock market made a strong comeback today. The Sensex surged by 824.5 points, while the Nifty crossed the 25,000 mark, which it had lost five days ago on June 12. This rally was mainly driven by buying at lower levels, increased foreign investor interest, and falling crude oil prices.
Sensex & Nifty Performance
At around 11:00 AM, the Sensex was trading 677 points higher, and the Nifty was up by 212.55 points at 25,008.75. A total of 26 out of 30 Sensex stocks were in the green, indicating strong broad-based buying. Major gainers included:
- Mahindra & Mahindra: +2.66%
- Bharti Airtel: +2.49%
- Power Grid: +1.92%
- Reliance Industries: +1.55%
- SBI: +1.31%
The Bank Nifty was also up by 468.50 points, thanks to increased investor interest in banking stocks like HDFC Bank, ICICI Bank, and SBI.
Key Reasons for the Market Rally
- Buying at lower levels: After three days of declines, investors jumped in to buy quality stocks at lower valuations.
- Stable economic outlook: Despite geopolitical tensions, India’s economic fundamentals remain strong.
- Foreign institutional buying: FIIs bought INR 935 crore worth of equities yesterday, signalling renewed interest in Indian markets.
- Crude oil relief: Brent crude prices fell by 2%, reducing concerns about inflation and import costs.
Market Capitalisation Rise
With today’s rally, investors gained nearly INR 3.59 lakh crore in market capitalisation, boosting confidence across sectors like banking, power, and metal stocks.
