Mumbai, June 25: On the fourth trading day of the week, the Indian stock market closed in the green for the second consecutive session. Excluding the decline on Tuesday, the market has shown consistent gains in recent sessions.
During Thursday’s session, pressure from IT, metal, and oil and gas stocks caused the major domestic benchmarks to lose most of their intraday gains. The Nifty 50 ended with a slight increase.
At the close of trading, the Sensex rose by 109.25 points, or 0.14%, to reach 77,100.47. Meanwhile, the Nifty 50 closed up by 34.35 points, also a 0.14% increase, at 24,056.00.
Earlier in the day, the 30-share Sensex opened at 77,391.07, nearly 400 points higher than its previous close of 76,991.22, and touched an intraday high of 77,803.18, marking an increase of over 1%.
The NSE Nifty 50 opened at 24,125.85, up 104 points from its previous close of 24,021.65, reaching a peak of 24,261.60 during intraday trading, reflecting a rise of nearly 1%.
In the broader market, the Nifty Midcap and Nifty Smallcap indices closed down by 0.55% and 0.47%, respectively.
Sector-wise, the Nifty Auto index saw the highest gain of 2.2%. Other sectors like Nifty FMCG, Nifty Realty, and Nifty Private Bank recorded increases of approximately 0.7%, 0.3%, and 0.16%, respectively. In contrast, declines were noted in Nifty Metal, Nifty IT, Nifty Media, Nifty Oil and Gas, Nifty Consumer Durables, and Nifty Pharma.
Among the Nifty 50 stocks, Indigo, M&M, Maruti Suzuki, Max Health, and Tata Consumer witnessed the most significant gains. Conversely, ONGC, Hindalco, Powergrid, Tech Mahindra, Bharti Airtel, and SBI Life experienced the largest declines.
Meanwhile, the Indian rupee strengthened against the dollar, closing at 94.40, up by 25 paise from the previous day’s close of 94.65.
Market experts suggest that the sharp decline in crude oil prices has supported the rupee and provided some relief. However, this momentum may not be sufficient to maintain the upward trend.
In terms of sector performance, auto stocks excelled due to lower metal prices, reduced supply chain issues, and improved retail demand during the month. Overall, market sentiment remained positive, but continuous selling by foreign institutional investors could limit the rally.
Looking ahead, weak estimates for the first quarter results and uneven monsoon conditions may impact market sentiment, necessitating close monitoring of these factors.
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