Sensex up 300 pts, Nifty near 25,700; oil & gas, PSU banks lead, mid & smallcaps gain for sixth day

Jio Financial Services, IndusInd Bank, Adani Enterprises, Apollo Hospitals, and Asian Paints were the top gainers on the Nifty.

Benchmark indices Nifty and Sensex held firm in the green on June 27, wrapping up the week with strong gains, driven by renewed strength in oil & gas, metal, and auto stocks. Easing geopolitical tensions following the Israel-Iran truce and optimism around a potential US-India trade deal have been key tailwinds for the rally. Both indices have risen over 2 percent this week.

The broader market has been even more impressive, with the Nifty Midcap and Smallcap 100 indices extending their winning streak to a sixth straight session. The midcap index has climbed more than 2 percent, while the smallcap index has surged over 4 percent this week.

At close, the Sensex was up 303.03 points or 0.36 percent at 84,058.90, and the Nifty was up 88.80 points or 0.35 percent at 25,637.80. About 2134 shares advanced, 1727 shares declined, and 140 shares were unchanged

"It appears that the rally is unlikely to be impacted by the approaching July 9th tariff deadline imposed by President Trump. News that the July 9th deadline is likely to be extended is positive for the market," V K Vijayakumar of Geojit Investments said. "The market momentum is strong, but some profit booking is likely in the near term," he added.

NSE sectoral indices were largely positive on Friday, with Nifty Oil & Gas topping the charts with a gain of 1.28 percent, followed by Nifty Infra and Energy, which rose 1.07 percent and 1 percent, respectively. PSU Bank, Pharma, Metal, and Media indices also saw decent gains, advancing between 0.4 and 0.7 percent. The Nifty Bank and Private Bank indices were up 0.35 percent and 0.32 percent, respectively, while Auto and Midcap 100 posted modest gains. The Nifty Smallcap 100 continued to outperform, climbing nearly 1 percent. On the flip side, Nifty Realty was the worst performer, slipping 1.25 percent, and IT and Consumer Durables edged lower. Meanwhile, market volatility eased further, with India VIX down 1.83 percent to 12.36.

Quite a few stocks were buzzing in trade today. 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.

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.

Private lender IndusInd Bank sharply surged nearly 4 percent after CNBC-TV18 reported that Axis Bank's Rajiv Anand is a strong candidate for its CEO position. HDFC Bank's Rahul Shukla and Bajaj Finance's Anup Saha are also likely to be running for the role, the report added, citing sources.

From a technical perspective, the momentum looks far from over, with the 25,700–25,800 range now emerging as the next resistance zone. "On the downside, 25,000 continues to act as strong tactical support. With bullish sentiment intact, traders are eyeing further upside in the near term," Akshay Chinchalkar, Head of Research at Axis Securities, said.

Jio Financial Services, IndusInd Bank, Adani Enterprises, Apollo Hospitals, and Asian Paints were the top gainers on the Nifty. Laggards on the index included Trent, Tata Consumer Products, Dr Reddy's, Tech Mahindra, and Eternal.