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5d ago

Sensex and Nifty Extend Winning Streak to Six Days, Driven by Banking and FMCG Gains

Indian equity benchmarks post nearly 8% gains over six sessions, bolstered by foreign inflows, RBI policy easing, and HDFC Bank's market cap milestone.

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Gains in banking and FMCG stocks as well as foreign capital inflows helped the benchmark equity indices, the Sensex and Nifty, increase on Tuesday for the sixth consecutive day.
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Overview

  • Sensex closed at 79,595.59 and Nifty at 24,167.25, marking their sixth consecutive day of gains with nearly 8% growth over six sessions.
  • Banking and FMCG stocks led the rally, with notable contributions from HDFC Bank, which surpassed a Rs 15 lakh crore market capitalization milestone.
  • Foreign Institutional Investors (FIIs) resumed strong inflows, purchasing equities worth ₹1,970.17 crore, further fueling market momentum.
  • The Reserve Bank of India eased Liquidity Coverage Ratio (LCR) norms, enhancing credit growth prospects and boosting banking sector performance.
  • Gold futures reached record highs, crossing Rs 1 lakh per 10 grams for the first time, highlighting favorable macroeconomic conditions with easing inflation and stable global indicators.