Sensex & Nifty Extend Winning Run, Iran-Israel Ceasefire Boosts Market Sentiment
Sensex and Nifty rose for the third day in a row as investors felt hopeful after a ceasefire between Iran and Israel. Positive trends in Asian markets and strong buying in certain stocks added to the upbeat mood.
Sensex and Nifty rose for the third day in a row as investors felt hopeful. |
Mumbai: The Indian stock market continued its winning streak on Thursday. Both the Sensex and Nifty rose in early trade as hopes grew after a ceasefire was announced between Iran and Israel. This positive news lifted investor mood across global markets.
The 30-share BSE Sensex went up by 163.27 points to reach 82,918.78 in the early session. At the same time, the NSE Nifty added 64.35 points to hit 25,309.10. As trading continued, the Sensex jumped even higher to 83,171.49, up by 415.98 points. The Nifty also moved up further to 25,359.45, gaining 115.50 points.
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Many top companies helped drive the rally. Big gainers from the Sensex group included Bharat Electronics Ltd, Tata Steel, Bharti Airtel, Bajaj Finance, Eternal, and Adani Ports. However, a few companies like Tech Mahindra, Kotak Mahindra Bank, State Bank of India, and Tata Consultancy Services saw some losses.
Experts said the ceasefire between Iran and Israel was a big reason for the positive mood. V K Vijayakumar, Chief Investment Strategist at Geojit Investments, said global investors were feeling good about taking risks again. But he warned that there is still some concern about tariffs between major countries. He added that markets may remain careful as they wait to see what happens around July 9, when a 90-day break on reciprocal tariffs ends.
Asian markets showed mixed signals. Japan’s Nikkei 225 and China’s Shanghai Composite were up, while South Korea’s Kospi and Hong Kong’s Hang Seng were down. Meanwhile, US stock markets had a mixed day on Wednesday.
Brent crude oil, which is the global benchmark, rose slightly by 0.22% to reach USD 67.83 per barrel.
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In terms of investor activity, Foreign Institutional Investors (FIIs) sold shares worth Rs 2,427.74 crore on Wednesday. On the other hand, Domestic Institutional Investors (DIIs) bought stocks worth Rs 2,372.96 crore.
On Wednesday, the Sensex had already gained 700.40 points to close at 82,755.51. The Nifty had risen by 200.40 points to end at 25,244.75.
(With PTI Inputs)
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