Sensex Rises 395 Points, Nifty Reclaims 23,200 as Banking, Realty Stocks Lead Rally

Mumbai, June 9: Indian benchmark indices ended firmly higher on Tuesday, with the Nifty closing above the 23,200 mark, as strong buying in banking, financial and realty stocks outweighed weakness in information technology shares. Improved risk appetite amid easing geopolitical concerns and optimism around the Reserve Bank of India’s recent liquidity-enhancing measures supported sentiment across the market. 

The BSE Sensex advanced 394.50 points, or 0.54%, to close at 73,918.76, while the NSE Nifty 50 gained 119.10 points, or 0.52%, to settle at 23,242.10. Market breadth remained positive, with 2,694 stocks advancing against 1,343 declines, while 175 shares ended unchanged. 

Banks Lead as RBI Measures Boost Sentiment 

Sensex ended firmly higher as banks boosted shares amid optimism surrounding measures aimed at attracting foreign currency inflows and supporting the rupee. Source: BSE 

Financial stocks emerged as the biggest drivers of the rally, with investors cheering the RBI publishing guidelines for recently announced measures aimed at attracting foreign currency inflows and supporting the rupee. The Nifty PSU Bank index surged 3.6%, while the Nifty Bank and Private Bank indices climbed 2% and 1.6%, respectively. 

State Bank of India was among the top gainers on the Nifty, while other major lenders also witnessed strong buying interest. Market participants believe the central bank’s concessional swap facility for FCNR(B) deposits and related measures could help improve liquidity and support deposit growth across the banking sector. 

Realty Stocks Extend Gains 

Real estate stocks also attracted significant investor interest, with the Nifty Realty index rising 1.6%. The sector benefited from improving risk sentiment and expectations that lower interest rates and supportive liquidity conditions could aid housing demand and project execution. 

The rally in rate-sensitive sectors such as banks and realty reflected growing confidence that domestic economic conditions remain supportive despite global uncertainties. 

IT Stocks Buck the Trend 

Information technology stocks were the notable laggards, with the Nifty IT index ending in the red. Investors remained cautious on the sector amid concerns over global growth and the outlook for technology spending in key overseas markets. 

Nifty rose despite weakness in IT even after positive developments surrounding H-1B visa fees in the United States. Source: NSE  

Tech Mahindra figured among the top losers on the Nifty, while the broader IT pack underperformed the market despite positive developments surrounding H-1B visa fees in the United States. 

InterGlobe Aviation, Jio Financial Among Top Gainers 

Among Nifty constituents, InterGlobe Aviation, Jio Financial Services, Eicher Motors, State Bank of India and Apollo Hospitals were the top gainers. On the losing side, ONGC, Titan Company, NTPC, Power Grid Corporation and Tech Mahindra ended lower. 

Oil-linked stocks remained under pressure as investors continued to assess the impact of fluctuating crude prices and developments in the Middle East. 

Broader Markets Outperform Benchmarks 

The broader market delivered an even stronger performance than the frontline indices. The Nifty Midcap index climbed 1.3%, while the Nifty Smallcap index rose 1.7%, indicating continued appetite for domestic growth-oriented stocks. 

The broad-based nature of the rally, coupled with strong market breadth, suggested that investors were willing to move beyond large-cap names and selectively add exposure across sectors. With banking stocks regaining leadership and broader markets remaining resilient, Tuesday’s session marked a constructive recovery after recent volatility. 

Source

• NSE
• BSE