Sensex Gains 200 Points; Broader Indices Outshine as Small & Midcaps Surge
Investors bet on domestic growth; small and midcap stocks outperform large caps.
The Impressive TimesMumbai, June 27: After a sluggish opening, Indian equity benchmarks surged mid-session , driven by widespread buying across most sectors, with the exception of real estate. Strong performances by oil & gas and metal stocks helped push the indices higher, while broader markets outshined large-cap peers.
By 12:20 pm, the BSE Sensex had advanced 221.64 points (0.26%) to 83,977.51, while the NSE Nifty 50 rose 80.65 points (0.32%) to 25,629.65. Market breadth was positive, with 2,067 stocks advancing, 1,324 declining, and 121 remaining unchanged.
Investor sentiment appears buoyed by speculation of a potential delay in the upcoming US tariff deadline of July 9, which analysts believe could alleviate inflationary pressures. Further boosting optimism, the US dollar index dipped to around 97, triggering robust foreign institutional investment (FII) inflows, estimated at ₹12,594 crore on Tuesday alone.“The weakening dollar and hopes around US tariff relief have sparked risk-on sentiment. This has led to healthy FII activity,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
On the NSE sectoral front, gains were led by Nifty Oil & Gas (up 1.34%), followed closely by Nifty Energy (up 1.29%). Other strong performers included PSU Bank (1.01%), Infrastructure (0.80%), Smallcap 100 (0.88%), and Midcap 100 (0.70%).
Sectors like Auto, FMCG, Pharma, IT, and Metal saw modest gains ranging between 0.2% and 0.5%. Nifty Bank and Private Bank indices registered slim upticks. Nifty Realty was the lone sector in the red, falling 1.01%.
India VIX, the volatility index, declined 0.79% to 12.49, indicating a more stable market environment.
According to Sameet Chavan of Angel One, the index may soon test resistance near 25,700, with further upside possible towards the 26,300 all-time high. “Immediate support is at 25,400, followed by 25,250. Traders may adopt a buy-on-dips strategy while keeping a close watch on these technical levels,” he advised.
Jio Financial Services surged over 4% after SEBI granted approval to its subsidiary, Jio BlackRock Broking, to operate as a stockbroker and clearing member.
Akzo Nobel India jumped more than 9% after JSW Paints announced plans to acquire up to 74.76% stake for a maximum of ₹8,986 crore, as per exchange filings.
Torrent Pharmaceuticals gained nearly 4% after JPMorgan upgraded the stock to ‘Overweight’, citing positive outlooks in both India and Brazil businesses.
Top gainers on the Nifty included Jio Financial Services, IndusInd Bank, Asian Paints, Adani Enterprises, and Power Grid Corp. On the downside, Bajaj Finance, Cipla, Dr Reddy’s, Grasim, and Bajaj Finserv were among the notable laggards.
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