India’s benchmark indices remained firmly in the green on June 27, poised to end the week with robust gains. Renewed buying in oil & gas, metals, and auto stocks fueled the rally, while easing geopolitical tensions after the Israel-Iran truce and optimism over a potential US-India trade deal provided key support. For the week, both the Nifty and Sensex advanced over 2%.
Broader markets continued to outperform. The Nifty Midcap 100 and Smallcap 100 indices extended their winning streak to a sixth consecutive session. The midcap index climbed more than 2% for the week, while smallcaps surged over 4%.
As of 3:10 pm, the Sensex was up 294.89 points (0.35%) at 84,050.76, and the Nifty gained 91.50 points (0.36%) to trade at 25,640.50. Market breadth was positive, with 1,920 stocks advancing, 1,589 declining, and 112 unchanged.
“It appears that the rally is unlikely to be impacted by the July 9th tariff deadline imposed by President Trump. Reports that the deadline could be extended are positive for sentiment,” said V K Vijayakumar of Geojit Financial Services. However, he noted that some near-term profit booking could occur.
Most NSE sectoral indices traded higher. Nifty Oil & Gas led the pack with a 1.28% gain, followed by Nifty Infrastructure (up 1.07%) and Energy (up 1%). PSU Bank, Pharma, Metal, and Media indices advanced between 0.4% and 0.7%. Nifty Bank and Private Bank rose modestly, while Auto and Midcap 100 also ended higher. The Nifty Smallcap 100 continued its strong run, climbing nearly 1%. On the downside, Nifty Realty fell 1.25%, and IT and Consumer Durables also edged lower. Market volatility further eased, with India VIX slipping 1.83% to 12.36.
Stocks in Focus
Several stocks were actively traded. Akzo Nobel India soared over 9% after JSW Paints announced a deal to acquire up to 74.76% stake from Akzo Nobel N.V. and affiliates for up to ₹8,986 crore, subject to closing adjustments.
Jio Financial Services gained more than 4% after SEBI granted Jio BlackRock Broking a certificate to operate as a stockbroker and clearing member.
IndusInd Bank rallied nearly 4% after reports on CNBC-TV18 suggested Axis Bank’s Rajiv Anand is a leading contender for the CEO role, alongside HDFC Bank’s Rahul Shukla and Bajaj Finance’s Anup Saha.
Technical Outlook
From a technical perspective, the momentum appears intact. Analysts now see the 25,700–25,800 zone as the next resistance area, while 25,000 remains strong tactical support. “With bullish sentiment intact, traders are eyeing further upside in the near term,” said Akshay Chinchalkar, Head of Research at Axis Securities.
Top Gainers and Losers
On the Nifty, the session’s top gainers included Jio Financial Services, IndusInd Bank, Adani Enterprises, Apollo Hospitals, and Asian Paints. Among the laggards were Trent, Tata Consumer Products, Dr. Reddy’s, Tech Mahindra, and Eternal.
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