Sensex Rebounds 1046 Points After Three-Day Losing Streak, Nifty 50 Tops 25,100

Benchmark indices Sensex and Nifty bounced back on Friday, June 20 after three straight sessions of losses, amid a positive domestic policy change and easing geopolitical tensions.

The Reserve Bank of India (RBI) announced a relaxation in norms for project loans, which is expected to lower borrowing costs for lenders when issuing loans for infrastructure and industrial projects like roads, ports, and power plants. This boosted investor sentiment.

Further, the hopes of easing of geopolitical tensions between Iran and Israel increased after reports suggested that the United States (US) is likely to hold dialogue with Iran soon. This led to a fall in crude oil prices, which added to the momentum in the market.

The Sensex rallied 1,046.30 points, or 1.29 per cent to end at 82,408.17. Similarly, the Nifty 50 surged 319.15 points or 1.29 per cent to close at 25,112.40.

The broader market indices too mirrored the positive sentiment as the Nifty Midcap 100 closed 1.46 per cent higher and the Nifty Smallcap 100 settled up by 1.01 per cent. Nifty 500, which represents 92.3 per cent of free-float market cap of all stocks listed on the National Stock Exchange (NSE), ended the session 1.22 per cent higher. The Nifty Microcap 250, which tracks the top 250 companies beyond the Nifty 500 index constituents, also ended in green, u by 0.29 per cent.

All the sectoral indices, closed in the green. Nifty Realty surged 2.11 per cent, leading gains, followed by Nifty PSU Bank, which climbed around 1.64 per cent at the close of the session. Nifty Auto, Nifty Metal, Nifty Private Bank, Nifty Bank, Nifty Financial Services, and Nifty Healthcare too gained more than 1 per cent each.

India VIX, the fear index, eased 4.08 per cent to 13.67 level, indicating near-term stability in the market.

Sensex, Nifty 50: Top Gainers And Losers

From Sensex, 29 out of 30 stocks closed in green. Among the top gainers were Bharti Airtel, Mahindra & Mahindra, Power Grid Corporation, Reliance industries, Nestle India, and NTPC. Only Maruti didn't close in green, it ended flat with a minor negative bias of 0.02 per cent.

Among the Nifty 50 stocks, Trent ran the most, rising 3.96 per cent, followed by Jio Financial Services, Mahindra & Mahindra, and Bharti Airtel - all three gaining more than 3 per cent. Nestle India, HDFC Life Insurance, Power Grid, and Reliance were other top gainers. Six stocks didn't close in green, which includes Hero MotoCorp, Dr Reddy's Laboratories, Maruti Suzuki, ONGC, Axis Bank and Infosys.