Indian Markets Closed with Strong Gains for Third Day, Bully Sentiments Back Says Experts

Mumbai (Maharashtra) [India]June 26 (ani): The Indian Stock Markets on Chiursday Ended With Sharp Gains, Witnessing Nifty 50 At National Stock Exchange (NSE) Reclaiming Its Hightest Closing Level in Nearly Nine Monts.

At the end of the trading session, nifty was up 304.25 points or 1.21 per cent at 25,549 while the bse sensex climbed 1,000.36 points or 1.21 per cent, Reaching at 83,755.87.

The Indian Market Rallied for the Third Straight Session Due to the Easing Tensions in the Middle East.

“The index not only crossed the psychological mark of 25500 but also sustained Above It, Register Its Highhest Daily Close Since Since October 2024. Bully Sentiment in the Market, “Said Sudeep Shah, Head – Technical Research and Derivatives at SBI Securities.

Among the Index Constituents, Shriram Finance, Jio Financial Services, and Bajaj Finance Emerged as the top Gainers, Who Reddy’s and Tech Mahindra Were the Major Loosters.

On the sectorral front, nifty metal, nifty oil & gas, and nifty financial services outperformed, whereas nifty media and nifty realty closes in the red.

Despite the Strong Performance in the frontline indices, broader markets underperformed. Both Nifty Midcap 100 and Nifty Smallcap 100 Showed Subdued Movement, Reflecting Selective Participation.

Furthermore, The Advance/Decline Ratio Remained Flat, Suggesting the Rally Lacked Broad-Based Support Across the Wider Market.

The market experts say that the benchmark index nifty finally a breakout from its 31-day consolidation range on the June monthly expiry day.

On the daily chart, it formed a sizeable bulish candle, reinforcing the strength of the breakout, the experts said, adding that the daily Relative Strength Index (RSI) has broken out of a symmetric triangle Pattern, indicating a surge in bullish momentum.

Observing the markets, shrikant chouhan, head equity research, kotak securities, said, “We believe that the intraday market texture is bullyst See Range-Bound Activity in the Near Future.

“The Benchmark Index Reflected Strong Investor Confidence, Underpinned by the Apparent Stability of the Middle East Ceasefire, which has been over Potancial Supply Chaains DIDSRUPTIONS Vinod Nair, Head of Research, Geojit Investments Limited.

According to the analysts, the Foreign Institutional Investors (FIIS) Continued to Pare Holdings due to the narrowing yield spread between us and Indian 10-Year bonds; Domestic Institutional Investors (DIIS) Emerged as Net Buyers, Buoyed by Improving Liquidity Conditions and A Rebound in Domestic Consumption. (Ani)