The Indian stock market today joined the global rally and continued its positive momentum for the second straight trading session as both the benchmark Nifty 50 and the 30-share Sensex curve steeply upward. Positive signals from international markets, combined with favorable domestic macroeconomic conditions, created robust buying interest in all sectors. The Nifty 50 index surged past the 25,000 mark in intraday trade, before closing at ${25,002.85}, up by ${149.70} points or ${0.60\%}. The BSE Sensex also witnessed a robust climb, ending the day at ${82,395.42}, gaining ${674.34} points or ${0.83\%}.
Driving the market’s upward trajectory were positive signals from Asian markets, which followed a generally positive close in the US futures markets. We can thank the newfound positive global sentiment for the most part to US President Donald Trump’s decision to delay putting major tariffs on imports from the European Union until July 9th, giving everyone a respite from the trade war panic. On the domestic front, the market sentiment was strengthened by the Reserve Bank of India’s (RBI) announcement of a record dividend payout of ₹2.69 lakh crore to the Centre for the fiscal year 2025. The surprise larger-than-expected dividend is likely to deliver a much-needed fillip to the Union government’s finances helping it maintain the fiscal deficit within the desired target and further energizing the current low inflation and falling interest rate regime. Sectoral performance was very bullish, with strong advances in auto, IT, metal, and financial services stocks.
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Top gainers on the Nifty included Mahindra & Mahindra, JSW Steel, and Hindalco Industries, reflecting strong investor confidence in these sectors. Similar profit-booking was seen in counters like Eternal and Sun Pharmaceutical Industries, which were among the biggest laggards. Broader market indices joined the rally, with the Nifty Midcap 100 and Nifty Smallcap 100 respectively, signaling strong buying interest across sectors. Foreign Portfolio Investors (FPIs) had become net buyers on the trading day before, which helped fuel the positive momentum. According to market experts, the latest rally is a sign of an enduring bullish undercurrent, with the Nifty 50 looking at its next resistance level at approximately 25,200. In primary market news, the initial public offerings of Aegis Vopak Terminals and Schloss Bangalore opened for subscription today, receiving tepid early responses from investors. On the whole, the Indian bourses delivered a robust session of gains, spurred on by favorable global cues, the RBI’s hefty dividend payout news, and overall optimistic macroeconomic indicators. Investors will be keeping a close on global developments, Q4 earnings, and upcoming economic data for further market direction.
