Sensex Reclaims 84,000-Mark, Nifty Rises for Fourth Straight Day on FII Buying and Blue-Chip Gains

Mumbai, June 27 — Indian equity markets extended their winning streak for the fourth consecutive session on Friday, powered by gains in index heavyweights such as ICICI Bank and Reliance Industries, alongside robust foreign institutional investor (FII) inflows and supportive macroeconomic cues.

Key Highlights:

• Sensex closes above 84,000, gains 303 points
• Nifty settles at 25,637, up nearly 89 points
• FIIs net buyers of ₹12,594 crore on Thursday
• Rupee strengthens and crude prices remain soft
• Blue-chip stocks like Reliance and ICICI Bank lead gains

Indices Maintain Bullish Momentum

The BSE Sensex surged 303.03 points or 0.36 per cent to end at 84,058.90, regaining the crucial 84,000 mark. During intraday trade, the index hit a high of 84,089.35, up 333.48 points.

Similarly, the NSE Nifty advanced 88.80 points or 0.35 per cent to close at 25,637.80, building on Thursday’s strong rally.

Blue-Chip Buying and FII Flows Fuel Market Sentiment

Investor sentiment was lifted by sustained buying in large-cap stocks. ICICI Bank, Reliance Industries, Asian Paints, UltraTech Cement, Power Grid, Hindustan Unilever, Bharat Electronics, and Sun Pharma led the gains on the Sensex.

Meanwhile, Trent, Eternal, Axis Bank, and Titan were among the top laggards.

FIIs provided a strong tailwind by purchasing equities worth ₹12,594.38 crore on a net basis on Thursday, according to exchange data.

Macro Tailwinds Aid Rally

A combination of a strengthening rupee, softening global crude oil prices, and easing geopolitical and trade-related concerns added to the market’s positive tone.

According to analysts, expectations of a ceasefire in the Middle East and hopes of resolution in global trade issues ahead of key deadlines have cleared investor uncertainties.

Additionally, benign crude oil prices and a firm domestic currency are encouraging investors to realign focus on India’s domestic growth story.

Global Market Snapshot

Asian markets were mixed: Japan’s Nikkei 225 ended higher, while South Korea’s Kospi, China’s SSE Composite, and Hong Kong’s Hang Seng closed lower.

In contrast, European markets were trading in the green during the afternoon session, while Wall Street had ended positively on Thursday.

RBI Flags Lending Rate Cut Urgency

In a notable domestic development, the Reserve Bank of India (RBI) has urged banks to reduce lending rates to ensure faster transmission of its earlier 50 basis point rate cut.

An article in the central bank’s June Bulletin highlighted that current financial conditions remain supportive for effective policy transmission.

Oil Prices Edge Higher

Global crude benchmark Brent rose 0.72 per cent to USD 68.20 per barrel, though prices remain relatively soft compared to recent peaks, continuing to offer relief to oil-importing countries like India.

Outlook

With strong FII support, macro stability, and easing external pressures, markets are likely to maintain upward momentum in the near term, provided domestic triggers and global cues remain supportive.

Disclaimer:  At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations