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last mo.

Sensex and Nifty Extend Rally to Six Days, Reaching Six-Week Highs

Banking and real estate stocks drive gains as foreign fund inflows and RBI measures boost investor confidence.

BSE Sensex shot up after weeks of uncertainty. (File)
Sensex, Nifty 50 today: People walk past the Bombay Stock Exchange (BSE) building in Mumbai (Francis Mascarenhas/Reuters)
Stock market rally: A bird flies past a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai.
Sensex, Nifty 50 today: All of the Sensex stocks were in the green.

Overview

  • The BSE Sensex surged 1,078.87 points (1.40%) to close at 77,984.38, while the NSE Nifty rose 307.95 points (1.32%) to 23,658.35, both marking six-week highs.
  • Banking and real estate stocks led the rally, with Nifty Bank and Nifty Realty indices rising 2.01% and 2.17%, respectively.
  • Foreign Institutional Investors (FIIs) were net buyers, purchasing equities worth ₹7,470.36 crore, while Domestic Institutional Investors (DIIs) were net sellers.
  • The cancellation of a planned nationwide bank strike contributed to gains in banking stocks, alongside optimism about potential RBI rate cuts.
  • Short covering ahead of the monthly F&O expiry and positive global market trends further fueled the market's upward momentum.