FINAL TRADE: Sensex jumps 446 pts amid rally in financial stocks; Nifty settles at 18,817

Stock market today: Buoyed by buying in almost all the counters, especially in financial stocks, the benchmark indices settled with around 0.70 per cent gains on Tuesday, June 27. At close, the S&P BSE Sensex stood at 63,416.03, up 446 points, or 0.71 per cent. SBI, HDFC, HDFC Bank, and Axis Bank were the top gainers on the index. On the NSE, the Nifty50 ended at 18,817.40, up 126 points, or 0.68 per cent.

"Nifty opened on a small positive note, followed by some consolidation. The index picked up momentum in the second half and got stronger towards the end of the trading session. The index gained over 100 points and closed near the high point of the day. This was mainly due to the support given by Bank Nifty, which finally fired up. HDFC Bank gave a strong performance today, which was complimented by ICICI Bank and Axis Bank. The scrips pushed the Bank Nifty above 44,000 comfortably. Going forward, Nifty is expected to attempt fresh highs, with immediate support placed at 18,700 levels. Strong writing has been seen in 18700 and 18750 strike put options, suggesting any intraday dip towards these levels is likely to be bought into," said Gaurav Bissa, VP, InCred Equities.

Broader market

Nifty Midcap 100 and Smallcap 100 both ended on a positive note. The Nifty Midcap 100 was up 176.5 points at 35,296.95 and the Smallcap 100 was up 63.9 points at 10,753.75. Except for the India VIX, all indices ended in green.

Sectoral watch 

Nifty Bank also rallied 480.45 points to 44,121.5. Nifty Financial Services, Private Bank, PSU Bank, and Realty supported the headline index. Nifty oil and gas and FMCG were the only indices that ended flat.

Buzzing stocks 

HDFC Group stocks surged on the effective merger date announcement. HDFC Life Insurance ended as Nifty50's top gainer and rose over 5 per cent. Diagnostic companies extended their winning streak, and Dr Lal Path Labs and Metropolis settled 3 to 5 per cent higher. Aditya Birla Capital settled over 6 per cent on the Rs 1,750 crore Qualified Institutional Placement (QIP) announcement.

ICICI Lombard rose 4 per cent. IndiGo surged to a record high amid strong aviation data. Sugar stocks were under pressure as prices fell globally, with Balrampur Chini Mills down over 1 per cent. 

Global markets 

In Asian markets, Shanghai and Hong Kong settled in the green, while Seoul and Tokyo ended lower. Equity markets in Europe were trading on a mixed note. The US markets ended in negative territory on Monday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 409.43 crore on Monday, according to exchange data.

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