Nifty, Sensex Rally Continues: Markets Surge for Fourth Day as Realty Leads and FII Inflows Boost Stocks Above 24,400

Nifty, Sensex Rally Continues: Markets Surge for Fourth Day as Realty Leads and FII Inflows Boost Stocks Above 24,400​

Indian equity markets extended their winning streak for the fourth consecutive session, registering gains supported by broad-based buying activity. The rally was sustained amid improving monsoon prospects, renewed foreign institutional investor (FII) inflows, easing geopolitical concerns, and softening crude oil prices.

At close, the Sensex posted a solid gain of 521.16 points or 0.67 percent, settling at 78,285.07. Meanwhile, the Nifty climbed 159.50 points or 0.66 percent, closing strong above its previous level at 24,430.35.

Sectoral Performance and Broad Market Gains​

Sector performance remained predominantly positive throughout the trading day. Realty emerged as the top performing sector, rising by 1.8%. Consumer Durables (1.5%), Auto (1.3%), and Oil & Gas (1.1%) also registered healthy gains. The Metal index advanced 1%, while Energy gained 0.7%.

The market sentiment was dampened slightly by IT stocks, which slipped 0.6%. PSU Bank saw a decline of 0.9%, making it one of the losing sectors alongside Media, which declined by 0.95%.

Key Stock Movers and Individual Highlights​

Among the biggest gainers in Nifty were HDFC Bank, Hindalco Industries, ONGC, Bajaj Auto, and M&M. Stocks that saw declines included Kotak Mahindra Bank, TCS, Max Healthcare, Bajaj Finserv, and Coal India.

Individual stock activity showed significant spikes. Diamond Power Infrastructure surged 10% after securing a Rs 435.71 crore order to supply HT and LT power cables for Data Center Projects in Hyderabad. Granules India gained 2% after achieving Sole First-to-File (FTF) status for its ANDA for Sodium Oxybate.

Corporate Updates Drive Stock Momentum​

Several companies reported strong business updates that boosted their share prices. HDFC Bank advanced 3% as its Q1 advances and deposits grew 15.4% and 14.7% year-on-year (YoY), respectively. Bandhan Bank rose 4% after announcing healthy Q1 business growth. Shakti Pumps (India) climbed 4.7% following the securing of a Rs 354 crore solar pump contract from MSEDCL.

On the negative side, Kotak Mahindra Bank slipped 4% despite delivering a strong operational update. Faalcon Concepts hit the 20% upper circuit after bagging a new work order worth Rs 101.93 crore, while DEV Information Technology gained 6% following a Rs 73 crore work order from the Haryana State Electronics Development Corporation.

Market Strength and Analyst Outlook for July 7​

A Senior Technical Analyst at LKP Securities noted that the Nifty remained extremely strong throughout the session. The index sustained its uptrend by holding above its critical short-term moving average. Importantly, it closed above the medium-term 50-week EMA for the first time in more than four months, signaling improving market strength.

Market sentiment is currently positive, which is reflected in the decline of the India VIX, indicating improved investor confidence. For the short term, the Nifty is predicted to extend its gains toward the next crucial resistance level at 24,800. Immediate support for the index has been placed at 24,300.

Currency Movement and Broader Market Activity​

The Indian rupee faced renewed pressure after Friday's recovery. It settled 18 paise lower at 95.40 against the US dollar on Monday, compared to the previous close of 95.22. Nearly 200 stocks touched their 52-week high on the BSE during the session.