Sensex Surges 395 Points, Nifty Crosses 23,240 as Banking Stocks Lead Market Rally

Indian equity markets rebounded strongly on June 9, snapping a two-day losing streak as easing geopolitical tensions and stable crude oil prices improved investor sentiment.

Supported by positive global cues, the market opened in the green and witnessed some volatility during the initial trading session. However, sustained buying across banking, financial, and realty stocks helped benchmark indices finish near the day's highs.

Market Closing Highlights

• BSE Sensex gained 394.50 points to close at 73,918.76
• NSE Nifty 50 advanced 119.10 points to settle at 23,242.10

Top Gainers and Losers

Among Sensex stocks, major gainers included:

• TRENT
• ICICI Bank
• InterGlobe Aviation
• Axis Bank
• Mahindra & Mahindra
• Bajaj Finserv

Stocks that ended lower included:

• NTPC
• Tata Steel
• Infosys
• Power Grid Corporation of India
• Tech Mahindra

Sector Performance

Most sectoral indices ended in positive territory, with the exception of Information Technology and Media.

Key sector gains included:

• Public Sector Banks: +3.6%
• Nifty Bank Index: +2.0%
• Private Bank Index: +1.6%
• Realty Index: +1.6%

Broader markets also outperformed:

• Nifty Midcap Index: +1.3%
• Nifty Smallcap Index: +1.7%

Rupee Strengthens Against Dollar

In the foreign exchange market, the Indian rupee appreciated by 36 paise to close at ₹95.35 per US dollar, supported by improved risk sentiment and relatively stable crude oil prices.

Crude Oil and Global Markets

Investor confidence improved after tensions between Israel and Iran showed signs of easing, helping stabilize global energy markets.

Brent crude oil prices fell 1.15% to around $93.17 per barrel, offering relief to emerging markets including India.

Asian markets also traded positively, with gains seen in:

• KOSPI
• Nikkei 225
• SSE Composite Index

Meanwhile, U.S. markets closed higher in the previous session, providing additional support to global investor sentiment.

Stocks in Focus

Several stocks witnessed notable moves during the session:

• Rail Vikas Nigam Limited gained about 3% after securing a ₹221.33 crore EPC contract from South East Central Railway.
• Panacea Biotec surged nearly 11% after launching the global dengue vaccine awareness initiative "DenStar."
• VA Tech Wabag rose around 3% following a major order win.
• JNK India jumped 18% after receiving new orders worth ₹100–300 crore.
• InterGlobe Aviation climbed nearly 4% after favorable views from foreign brokerage firms.
• NLC India Limited declined 2% after reports that the government may sell up to a 3% stake through an Offer for Sale (OFS).

Foreign Investor Activity

According to exchange data, Foreign Institutional Investors (FIIs) remained net sellers, offloading equities worth ₹5,555.67 crore during the previous trading session.

Despite continued foreign selling, strong domestic buying and improved global sentiment helped Indian markets end the day with solid gains, setting a positive tone for upcoming trading sessions.