Stock Market Soars: Sensex Topps 82K, Nifty Nears 25K - Widespread Rally Across Sectors
Stock Market Boost: Sensex & Nifty Climb on Back of Ceasefire Announcement
The stock market surge on June 24, 2025, is nothing short of impressive, owing to positive global news and a dose of relief from geopolitical worries. After a successful ceasefire between Israel and Iran was announced, investors cheered, causing equity benchmarks like the BSE Sensex and NSE Nifty 50 to climb substantially.
Record-Breaking Heights for Sensex and Nifty
Excitement filled the air as the BSE Sensex index hit an astounding 82,740, a rise of 843 points or 1.03 percent. The Sensex scaled an intraday high of 82,853, with noticeable buying interest spanning across sectors. The Nifty50 mirrored this strength, standing tall at 25,224, climbing 252 points or 1.01 percent. During the session, Nifty50 even touched an intraday high of 25,258, riding the wave of positive sentiment and robust buying by heavyweights.
Leading the Pack in Nifty
Top performers in the Nifty arena included Adani Ports, Shriram Finance, Mahindra & Mahindra (M&M), Ultratech Cement, Jio Finance, Larsen & Toubro (L&T), Adani Enterprises, State Bank of India (SBI), Asian Paints, Titan, and Axis Bank, with gains ranging from 1.5 percent to 4 percent. The stellar performance by these key players lent significant momentum to the broader market.
Broad Market Gains
The Nifty MidCap index rose 1 percent, echoing the market's positive sentiment towards mid-sized companies. The Nifty SmallCap index also gained 1 percent, indicating a market rally going beyond just large-cap stocks. This shows that the optimistic mood was prevalent across market segments.
Sectoral Indices Shine
Most sectoral indices shone brightly during the session, with the Nifty Oil and Gas index adding 1.13 percent. Notable contributors to the sector's growth included Hindustan Petroleum Corporation Limited (HPCL), Indian Oil Corporation (IOCL), Bharat Petroleum Corporation Limited (BPCL), Mahanagar Gas Limited (MGL), Petronet LNG, and Castrol India, easing crude oil prices following the ceasefire.
The Nifty PSU Bank index was also up 2 percent as public sector banks gained traction. The reduced fears of global economic disruptions due to the ceasefire sparked renewed interest in the banking sector, focusing particularly on public sector banks.
The Nifty Metal and Nifty Auto indices posted gains of around 1.5 percent each. Supporting factors for the metal sector included expectations of stable global demand and fewer supply chain disruptions. The auto sector benefited from reduced input cost concerns and steady demand expectations.
The Nifty IT index inched ahead by 1 percent, as technology companies prepared for stable global markets and improved client spending.
Global and Domestic Perspectives
The announcement of the ceasefire between Israel and Iran sent a wave of optimism across global financial markets, soothing investor concerns about the potential economic repercussions of ongoing conflicts in the Middle East. This positive sentiment contributed to buying in equities and risk assets.
In India, the market reaction was a reflection of both the fresh air from geopolitical tensions and trust in the nation's economic fundamentals. The market's favorable response implied that the ceasefire would help maintain crude oil prices at manageable levels, which is crucial for India's economy, given its significant reliance on oil imports.
Currency and Commodities Update
The Indian rupee strengthened slightly against the US dollar as risk appetite improved and crude oil prices dropped. The advantage of lower oil prices for India lies in its positive impact on the nation's trade balance and inflation outlook.
In the commodities market, crude oil prices shrank as the ceasefire alleviated supply concerns, benefiting energy-intensive sectors such as oil marketing companies, transport, and chemicals.
Looking Ahead for the Market
The market outlook remains positive in the short term, as the ceasefire brings stability. Attention now turns to domestic factors, including the progress of the monsoon season, June quarter earnings, and policy decisions from the Reserve Bank of India (RBI).
Analysts propose that while the market is enjoying strong gains today, investors keep a keen eye on any further geopolitical developments. The focus remains on domestic economic indicators, inflation trends, and interest rate expectations.
Key Market Moves
BSE Sensex: Up 843 points (1.03%) at 82,740; intraday high of 82,853
NSE Nifty 50: Up 252 points (1.01%) at 25,224; intraday high of 25,258
Top Nifty gainers: Adani Ports, Shriram Finance, M&M, Ultratech Cement, Jio Finance, L&T, Adani Enterprises, SBI, Asian Paints, Titan, Axis Bank
Nifty MidCap index: Up 1%
Nifty SmallCap index: Up 1%
Nifty Oil & Gas index: Up 1.13%
Nifty PSU Bank index: Up 2%
Nifty Metal index: Up 1.5%
Nifty Auto index: Up 1.5%
Nifty IT index: Up 1%
In response to the positive global news and relief from geopolitical worries following the ceasefire between Israel and Iran:
- Investors poured their funds into equity benchmarks such as the BSE Sensex and NSE Nifty 50, causing stock prices to soar, with the Sensex touching a record high of 82,740.
- As the Nifty50 stood tall at 25,224, various sectors, including finance with companies like Jio Finance and Shriram Finance, experienced significant growth, contributing to the broader market momentum.
