Indian Markets Extend Winning Streak: Nifty Tops 25,600, Bank Nifty Hits Record High

Indian equity markets ended with gains for the second straight week, driven by improved global sentiment, with the Nifty ending above 25,600. 

The Sensex rose 303 points to close at 84,058, while the Nifty 50 rose 88 points to finish at 25,637. For the week, the benchmarks have gained 3%. The Bank Nifty hit a fresh record, ending above 57,400 for the first time, led by gains in ICICI Bank and SBI.

Broader markets mirrored the optimism. The Nifty Midcap index rose 0.3%, while the Smallcap index gained nearly 1%. For the week, the Midcap index gained 2%, while Smallcaps rallied 4%. 

The retail investor sentiment surrounding the Nifty 50 remained ‘bullish’ on Stocktwits. 

Sectorally, barring FMCG, IT, real estate, and consumer durables, the rest of the sub-indices ended in the green, with substantial gains in oil & gas stocks. 

JSW Paints is set to acquire up to 75% of Akzo Nobel India for approximately ₹9,000 crore. Following this deal, Akzo Nobel shares closed 7% higher.

Jio Financial was the top Nifty gainer, ending 4% higher after the market regulator (SEBI) granted a certificate of registration for Jio BlackRock JV to operate as a stockbroker. 

Shares of Mazagon Dock rose by nearly 3% after its board approved the acquisition of Colombo Dockyard for ₹452 crore.

IndusInd Bank ended 3% higher as reports indicate that the private lender is close to finalising its next Chief Executive Officer (CEO). 

Ahluwalia Contracts surged 5% after securing two construction projects worth ₹1,103 crore.

Globally, European markets traded higher, and Dow Futures indicated a positive opening for Wall Street. 

For updates and corrections, email newsroom[at]stocktwits[dot]com. 

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