Indian equities ended higher for the fourth straight day on Friday, June 27, largely led by select heavy weights including Reliance Industries, ICICI Bank, and Bharti Airtel, which pushed the frontline indices another step closer to their September peaks.
BSE Sensex closed about 0.4% up at 84,058.9 on Friday, setting a new high since October 2024 and extending its winning streak to four sessions. Market sentiment was supported by optimism around an imminent trade deal with the US, easing geopolitical tensions and fresh foreign inflows. President Donald Trump has hinted at a “very big” trade agreement with India following the United States' new deal with China. Meanwhile, the RBI advised banks to reduce lending rates after its recent 50-basis-point cut, noting in its June Bulletin that conditions remain favorable for smooth policy transmission. Asian Paints, UltraTech Cement, Power Grid, ICICI Bank, Reliance Industries, Hindustan Unilever, Bharat Electronics and Sun Pharma were among the major gainers. In contrast, Axis Bank, Eternal, Trent, Bajaj Finance and Titan were among the laggards. For the week, the index posted a 2% gain, the second consecutive weekly increase, largely driven by improving geopolitical sentiment.
A strong handover from Wall Street, coupled with a rebound in overseas inflows, helped the Nifty 50 to stay higher during Friday's session, gaining 86.35 points, or 0.34%, to finish the session at 25,635, while the Sensex rose 303 points, or 0.36%, to settle at 84,058.Meanwhile, the broader markets have also ended the week with healthy gains despite valuation concerns, with Nifty Midcap 100 and Nifty Small Cap 100 closing with 2.44% and 4.35%, respectively.
