Stock market today: Nifty50 ends above 25,600; BSE Sensex up over 300 points

Stock market today: Indian equity benchmark indices, Nifty50 and BSE Sensex, continued their upward trend for the fourth consecutive session on Friday, driven by investments in major companies ICICI Bank and Reliance Industries, alongside fresh foreign capital inflows. Investors’ confidence grew due to the rupee’s appreciation against the US dollar and declining crude oil prices globally. The NSE Nifty increased by 88.80 points or 0.35 per cent to close at 25,637.80. The BSE Sensex gained 303.03 points or 0.36 per cent to reach 84,058.90, surpassing the 84,000 mark. Leading gainers in the Sensex portfolio included Asian Paints, UltraTech Cement, Power Grid, ICICI Bank, Reliance Industries, Hindustan Unilever, Bharat Electronics and Sun Pharma. However, Trent, Eternal, Axis Bank and Titan experienced declines. Foreign Institutional Investors purchased equities worth Rs 12,594.38 crore on Thursday, as per exchange data.“Key catalysts like the ceasefire in the Middle East and optimism on easing trade tensions ahead of the deadline have cleared the clouds in the minds of investors. After consecutive days of selling, FIIs have turned into net buyers in the domestic market, contributing to improved market stability in the near term. Moreover, benign oil prices and a strengthening rupee influenced investors to focus on domestic growth themes,” stated Vinod Nair, Head of Research, Geojit Investments Limited.In Asian markets, Japan’s Nikkei 225 showed gains, while South Korea’s Kospi, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng declined. European markets traded positively in afternoon sessions, and US markets closed higher on Thursday.An RBI report recommended that banks should reduce their lending rates to ensure effective transmission of the policy rate, which was decreased by 50 basis points earlier this month. An article in the Reserve Bank’s June Bulletin emphasised that financial conditions remained favourable for efficient rate cut transmission.The global oil benchmark Brent crude increased by 0.72 per cent to USD 68.20 per barrel.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)