Stock market closes with a surge for the fourth consecutive session
The domestic stock market closed with gains for the fourth consecutive session on Friday (June 27). The BSE Sensex climbed 303.03 points or 0.36 percent to reach the 84,000 level and closed at 84,058.90. During the day’s trading, it rose 333.48 points or 0.39 percent to reach 84,089.35. Similarly, the 50-share NSE Nifty rose 88.80 points or 0.35 percent to 25,637.80. The market got support from buying in blue-chips ICICI Bank and Reliance Industries amid foreign fund inflows. Meanwhile, global oil benchmark Brent crude rose 0.72 percent to $ 68.20 per barrel.
Top Gainers and Top Losers Stocks
Asian Paints, UltraTech Cement, Power Grid, ICICI Bank, Reliance Industries, Hindustan Unilever, Bharat Electronics and Sun Pharma were the major gainers in the Sensex pack. In contrast, Trent, Eternal, Axis Bank and Titan were lagging behind. According to exchange data, foreign institutional investors (FIIs) bought shares worth Rs 12,594. 38 crore on Thursday (June 26). On Thursday, the Sensex closed 1,000. 36 points or 1. 21 per cent higher at 83,755. The Nifty rose 304. 25 points or 1. 21 per cent to 25,549.
The market got support from these factors
Key catalysts like a ceasefire in the Middle East and hopes of easing trade tensions before the deadline have cleared the clouds in the minds of investors. After several consecutive days of selling, FIIs have become net buyers in the domestic market, improving market stability in the near future.
How was the trend in the global market
In Asian markets, Japan’s Nikkei 225 index closed higher, while South Korea’s Kospi, Shanghai’s SSE Composite Index and Hong Kong’s Hang Seng closed lower. European markets were seen trading in the green in afternoon trade. US markets closed in positive territory on Thursday. Meanwhile, an RBI report has suggested that all banks should pass on the benefit of policy rate to their customers. An article published in the Reserve Bank’s June bulletin stressed that financial conditions remain favorable to effectively take advantage of interest rate cuts.
