The Indian stock markets closed on a high note on Friday, with benchmark indices reaching a nine-month peak. Investor sentiment was buoyed by easing tensions in West Asia and promising discussions around a significant trade deal between India and the United States, boosting market confidence and encouraging buying activity.
The Sensex rose by 303.03 points, or 0.36 percent, ending the day at 84,058.90. It fluctuated between 83,645.41 and 84,089.35 during trading. This marked the fourth consecutive session of gains for the index, indicating a consistent upward trend. Similarly, the Nifty climbed 88.80 points, or 0.35 percent, closing at 25,637.80, with intra-day movements ranging from 25,523 to 25,654.
Rupak De from LKP Securities noted that the Nifty continued its upward movement as investor confidence remained robust. With no significant resistance anticipated until the 25,750–25,800 range, the index is poised for further gains. He suggested that a buy-on-dips strategy could be prudent at this juncture, given the recent surge. However, he cautioned that if the index falls below the support level of 25,500, it could lead to a phase of consolidation.
Previously, the Sensex had crossed the 84,000-mark in October 2024, while the Nifty peaked at 25,639 on October 3 of last year. Broader market indices also followed this positive trend. The Nifty Midcap100 index increased by 0.27 percent, while the Nifty Smallcap100 rose by 0.91 percent, reflecting strong investor interest beyond large-cap stocks.
All sectoral indices on the NSE, except for the Nifty Consumer Durables, Realty, IT, and FMCG, closed positively. Notably, the Nifty Oil & Gas index outperformed both its sector peers and benchmark indices, finishing 1.19 percent higher.
Volatility in the market decreased, as indicated by the India VIX-a measure of market fear-dropping by 1.60 percent to settle at 12.39. This decline suggests that investors feel increasingly secure about market stability in the near term.
Original Source: https://www.morungexpress.com/stock-market-hits-9-month-high-as-sensex-surges-past-84000-nifty-nears-25650
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Publish Date: 2025-06-27 16:08:00
