The July series in the stock market has begun bly. The Sensex and Nifty recorded gains for the fourth consecutive day, while Nifty Bank closed at a new high.
The July derivative series started spectacularly for the Indian stock market. On Friday, June 27th, the last trading day of the week, domestic markets concluded with a b performance, marking the fourth consecutive day of gains. The Sensex, Nifty, and Bank Nifty, all major indices, closed in the green, with Nifty Bank achieving a new record, closing at 57444.
Strong gains in Sensex and Nifty
At the end of trading, the Sensex closed at 84059, up 303 points. Meanwhile, the Nifty closed at 26385, gaining 89 points. Banking, oil-gas, energy, and infrastructure sectors significantly contributed to the market's rise today. Furthermore, the Nifty Midcap Index reached 59385, climbing 158 points.
Banking sector dominated
Friday saw the most significant activity in the banking sector. Particularly, the Nifty Bank closed above 57400 for the first time. Stocks like ICICI Bank, IndusInd Bank, and SBI made major contributions to this index. There was also a surge in public sector banks. This was fueled by the Finance Minister's advice to banks to increase lending, which injected fresh enthusiasm into the sector.
There was increased buying in government banking shares. SBI continued to attract investor interest, while PNB and Bank of Baroda also showed good movement.
Sectoral Performance Review
Good buying activity was seen in oil and gas, energy, and infrastructure shares during today's session. The Pharma and Public Sector Enterprises (PSE) indices also closed with strength. However, some decline was observed in real estate, FMCG, and IT sector stocks.
Which stocks performed well?
- AkzoNobel India shares closed with a 7% gain. This jump followed news of an acquisition deal with JSW Paints. The market reacted positively to this deal.
- IndusInd Bank shares saw a 3% increase. News that the bank has begun searching for a new CEO further strengthened investor confidence.
- Jio Financial Services hit its highest level of the day, up 3.5%. This increase came after SEBI announced the registration certificate for the Jio BlackRock joint venture.
- HPCL also showed a tremendous rise. The company's shares closed up 4.5%. Crude oil prices fell by about 11% this week, providing relief to oil marketing companies.
- Godfrey Phillips stock closed at a record high with a 5% gain. The stock has increased by approximately 79% so far in 2025.
- Dixon Technologies shares also rose more than 1% today. Investor interest in this stock remained high due to positive reports released by brokerage houses.
How did the market perform this week?
Looking at the entire week, it was the second consecutive week that the market closed bly. Both the Sensex and Nifty saw gains of more than 2% this week. The Nifty Smallcap Index climbed 4%. This indicates widespread buying.
The top-performing Nifty stocks this week were
- Jio Financial
- Adani Enterprises
- Hindalco
The stocks that performed poorly included
- ONGC
- Dr Reddy's Labs
- HCL Technologies
The top performers in the Midcap Index were
- HPCL
- IDBI Bank
- Polycab
While the weakest Midcap stocks were
- KPIT Technologies
- Mazagon Dock Shipbuilders
Strong start to the derivative series
The July derivative series is starting very bly. The current momentum in the market suggests that investors are currently expecting a rise. There is also an increase in trading volumes, particularly in the Bank Nifty and Midcap segments.
The buying by foreign investors and the participation of domestic investors this week created a positive atmosphere in the market. Positive signals are also coming from the broader market, which may keep investor expectations high in the upcoming trading sessions.
This Friday's closing indicates that the market is currently in a b trend and the start of the July series has been positive for investors. Amidst selective buying in shares and sectoral rotation, the market's direction still appears to be tilted towards a rise.
