Sensex up 200 pts, Nifty crosses 25,600 as oil & gas, metals lead; small, midcaps outperform

Jio Financial Services, IndusInd Bank, Asian Paints, Adani Enterprises, and Power Grid Corp were the top gainers on the Nifty.

After a muted start, benchmark indices Nifty and Sensex picked up momentum to trade higher on June 27, supported by broad-based buying across sectors, barring realty. Oil & gas and metal stocks led the gains, while the broader market stole the spotlight, with Nifty Midcap and Smallcap indices rising nearly a percent each to outperform the benchmarks.

At about 12:20 pm, the Sensex was up 221.64 points or 0.26 percent at 83,977.51, and the Nifty was up 80.65 points or 0.32 percent at 25,629.65. About 2,067 shares advanced, 1,324 shares declined, and 121 shares remained unchanged.

Experts note that growing speculation around a possible extension of the July 9 US tariff deadline is boosting market sentiment, as concerns mount that fresh levies could fuel inflation.

"Meanwhile, a key development in the currency market is the continued weakness in the US dollar, with the dollar index slipping to around 97. This has likely contributed to the strong FII inflows of Rs 12,594 crore on Tuesday—a significant figure even after accounting for bulk deals," V K Vijayakumar, Chief  Strategist at Geojit Investments Limited.

Sectoral indices on the NSE were largely in the green on Friday. Nifty Oil & Gas led the gains with a 1.34 percent rise, followed closely by Nifty Energy, which climbed 1.29 percent. Nifty PSU Bank, Infra, and Smallcap 100 also posted strong gains, rising 1.01 percent, 0.80 percent, and 0.88 percent, respectively. Nifty Midcap 100 was up 0.70 percent, while other indices like Nifty Auto, Metal, FMCG, Pharma, Media, and IT registered modest gains between 0.2 to 0.5 percent. Nifty Bank and Private Bank indices edged up 0.25 percent and 0.11 percent, respectively. On the downside, Nifty Realty was the only notable laggard, slipping 1.01 percent. Meanwhile, market volatility eased slightly, with India VIX down 0.79 percent at 12.49.

"While the index now appears to be heading toward the 26,000 mark and the all-time high near 26,300, interim resistance is expected around 25,700, the golden retracement level of the early June decline," Sameet Chavan of Angel One said. "On the downside, immediate support is placed at 25,400, followed by 25,250, the low of expiry day. Traders should continue with a "buy-on-dips" strategy while keeping a close watch on these key levels," he added.

Jio Financial Services shares rose over 4 percent on Friday after the Securities and Exchange Board of India (SEBI) approved Jio BlackRock Broking to function as a stockbroker. The rally came after the company informed exchanges that Jio BlackRock Broking Private Limited (JBBPL) has received a certificate of registration from SEBI dated June 25, 2025, allowing it to operate as a stockbroker and clearing member.

Akzo Nobel India shares surged over 9 percent after JSW Paints entered into definitive agreements to acquire up to 74.76 percent stake in Akzo Nobel India Limited from Akzo Nobel N.V. and its affiliates, for a maximum consideration under the Share Purchase Agreement of up to Rs 8,986 crores, subject to certain closing adjustments, the group said in an exchange filing on June 27.

Shares of Torrent Pharmaceuticals rose as much as 4 percent after global brokerage JPMorgan upgraded the stock to ‘Overweight’, citing strong growth levers in the coming quarters. JPMorgan expects Torrent’s India business to remain a key growth driver, with continued momentum in core segments. The company’s Brazil operations are also gaining traction, helped by improving fundamentals and a favourable base.

Jio Financial Services, IndusInd Bank, Asian Paints, Adani Enterprises, and Power Grid Corp were the top gainers on the Nifty. Laggards on the index included Bajaj Finance, Dr Reddy's, Cipla, Bajaj Finserv, and Grasim.