Markets rally for 3rd day on easing geopolitical tensions; Sensex surges 1,000 points
Mumbai, Jun 26 (PTI): Rallying for the third consecutive session, equity benchmark indices Sensex and Nifty surged over 1 per cent on Thursday, powered by intense buying in market heavyweights HDFC Bank, Reliance Industries and ICICI Bank as geopolitical tension in the Middle East eased off.
Stable crude oil prices in international markets and a strengthening trend in the rupee following a weak US dollar against major currencies also bolstered sentiment, traders said.
The 30-share BSE Sensex jumped 1,000.36 points or 1.21 per cent to settle at 83,755.87. During the day, it surged 1,056.58 points or 1.27 per cent to 83,812.09.
As many as 2,097 stocks advanced while 1,900 declined and 156 remained unchanged on the BSE.
The 50-share NSE Nifty rallied 304.25 points or 1.21 per cent to 25,549.
"The benchmark index reflected strong investor confidence, underpinned by the apparent stability of the Middle East ceasefire, which has eased concerns over potential supply chain disruptions.
"FIIs continued to pare holdings due to the narrowing yield spread between US and Indian 10-year bonds; DIIs emerged as net buyers, buoyed by improving liquidity conditions and a rebound in domestic consumption," Vinod Nair, Head of Research, Geojit Investments Limited, said.
From the Sensex constituents, Tata Steel, Bajaj Finance, Bharti Airtel, Adani Ports, Eternal, Bajaj Finserv, NTPC, HDFC Bank, Reliance Industries and Axis Bank were among the major gainers.
Shares of Reliance Industries climbed nearly 2 per cent on Thursday, with its market valuation again breaching the coveted Rs 20 lakh crore mark.
In contrast, Trent, State Bank of India, Tech Mahindra, Maruti and Mahindra & Mahindra were among the laggards.
The BSE midcap gauge climbed 0.56 per cent, and smallcap index went up by 0.12 per cent.
Among BSE sectoral indices, metal jumped 2.28 per cent, oil & gas (1.88 per cent), energy (1.68 per cent), commodities (1.39 per cent), financial services (1.25 per cent), utilities (1.24 per cent) and power (1.13 per cent).
On the other hand, IT, realty and BSE-focused IT were the laggards.
"Markets witnessed a decisive session on the monthly expiry day, gaining over a per cent. The tone was positive from the start, supported by stable global cues, followed by a range-bound move in the first half.
"However, momentum picked up as the session progressed, driven by strong buying in select heavyweights across sectors. Most sectors participated in the rally, with metals, financials, and energy emerging as top gainers. The broader indices also moved higher, adding nearly half a per cent each," Ajit Mishra – SVP, Research, Religare Broking Ltd, said.
In Asian markets, Japan's Nikkei 225 index settled higher, while South Korea's Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng ended lower.
European markets were trading in the green in mid-session deals.
US markets ended on a mixed note on Wednesday.
The rupee rose 41 paise to 85.67 (provisional) against the US dollar on Thursday on the back of a sharp drop in the greenback and a strong show in the domestic equity markets amid a rise in risk appetite.
Global oil benchmark Brent crude climbed 0.18 per cent to USD 67.80 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,427.74 crore on Wednesday, while Domestic Institutional Investors (DII) bought stocks worth Rs 2,372.96 crore, according to exchange data.
On Wednesday, the Sensex jumped 700.40 points, or 0.85 per cent, to settle at 82,755.51. The Nifty climbed 200.40 points, or 0.80 per cent, to 25,244.75.
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Mamata urges electors to cast vote to take revenge for deletion of people's names from rolls
Samserganj (WB) (PTI): West Bengal Chief Minister Mamata Banerjee on Sunday urged people to cast their votes to take revenge for the deletion of people's names from the electoral rolls.
The Trinamool Congress chief urged people whose names have been deleted from the voter list during the Special Intensive Revision (SIR) of electoral rolls to move appeals before the tribunal.
Addressing an election rally at Samserganj, which was the epicentre of violence during the protests against the Waqf (Amendment) Act in Muslim-majority Murshidabad district in April 2025, she said, "Cast your votes to take revenge for deletion of people's names, and against the SIR so that the results reflect that."
Banerjee asked the TMC workers to remain vigilant till the counting date on May 4. Assembly polls in West Bengal will be held in two phases on April 23 and 29.
In an apparent reference to Union Home Minister Amit Shah, Banerjee alleged that he was behind the deletion of voters' names in West Bengal during the SIR exercise.
"If you have the guts, fight directly," she said.
Asking all the TMC workers to remain vigilant during the election period, Banerjee said, "I hope none of our booth agents will sell themselves off to the BJP, in the interest of West Bengal."
Claiming that EVM machines will be made to malfunction at some places, the TMC chief instructed party workers not to allow EC officials to repair the machines and instead demand replacements.
Speaking at the rally in support of Mohammed Nur Alam in Samserganj and Mohammed Amirul Islam in Farakka, Banerjee accused the BJP of spreading canards against her that she did not do much for the interest of the Muslims, maintaining that she has fought hard against the implementation of the Waqf (Amendment) Act.
Murshidabad witnessed violence during the implementation of the Waqf (Amendment) Act, leading to the death of some persons including a father-son duo who were hacked to death by a mob, with the BJP accusing the TMC of engineering violent agitations in various parts of the district.
Claiming that development work has stalled owing to the assembly polls, she said, "They (EC) have transferred nearly 500 officers, but this is only for a month; work will begin again after that."
The chief minister accused the EC of "deleting names of some, while intimidating some others", in the name of SIR of electoral rolls.
Banerjee asked why the assembly polls could not be conducted with the same electoral rolls used in the 2024 general elections.
"If the voter list contained names of infiltrators, the Prime Minister and the Home Minister also won with their votes earlier, so they should have resigned first," she said.
Claiming that she and her party will never allow the establishment of detention camps in the name of NRC, Banerjee said, "That is why you are being vengeful against me."
She sought to remind that the Election Commission's authority over the state's administration is till completion of the election process.
The chief minister asked why several senior officers of her government, who were earlier replaced from their positions by the EC, were being sent to the assembly poll-bound Tamil Nadu.
Banerjee alleged that officers who are relatives of BJP leaders have been deputed in West Bengal.
She claimed that during the TMC rule, youths from among the minority community and the Scheduled Castes and Scheduled Tribes got better education opportunities and made it to the IAS, IPS and WBPS cadre and also became doctors and engineers.
"The society is advancing, but the jealous BJP people cannot stand this," the TMC chief said.
Banerjee assured people that women will receive lifelong financial benefits under Lakshmir Bhandar scheme if the TMC returns to power for a fourth consecutive term.
"We will find livelihood opportunities for those registered under Banglar Yuba Sathi," she said about the newly launched scheme to provide monthly assistance of Rs 1,500 each to the jobless youths in the state.
