Sensex, Nifty Extend Winning Run for Fourth Straight Session as Realty and Auto Stocks Drive Market Higher
Mumbai, July 6: (www.forevernews.in) Indian equity markets continued their upward momentum on Monday, with benchmark indices closing higher for the fourth consecutive trading session amid sustained buying in realty, automobile, oil & gas and consumer-focused stocks.
Sensex, Nifty Extend Four-Day Rally; Realty and Auto Stocks Lead Market Gains.
The BSE Sensex surged 521.16 points (0.67%) to end the day at 78,285.07, while the NSE Nifty50 climbed 159.50 points (0.66%) to settle at 24,430.35, reflecting continued investor optimism.
The rally was supported by strong gains in heavyweight stocks, with HDFC Bank, Hindalco Industries and ONGC emerging among the top contributors to the benchmarks’ advance.
Realty Sector Shines
Real estate stocks remained the biggest gainers of the day, pushing the Nifty Realty Index to its highest level in six months. Automobile shares also witnessed robust buying, with the Nifty Auto Index touching a one-month high.
The positive momentum extended to the Oil & Gas and Consumer Durables sectors, indicating broad-based participation across key segments of the market.
Mid and Small Caps Continue to Outperform
The broader market also remained upbeat.
The Nifty MidCap Index gained 0.45 per cent, while the Nifty SmallCap Index outperformed with a 0.75 per cent rise, reflecting continued interest in mid-sized and emerging companies.
Market participants noted that buying was spread across sectors rather than being limited to a handful of large-cap stocks, highlighting improving investor confidence.
Technical Outlook Remains Positive
Market analysts believe the near-term trend continues to favour the bulls, although the next few sessions will be crucial.
According to technical experts, the 24,500–24,600 zone on the Nifty remains a key resistance level. A decisive breakout above this range could pave the way for another leg of the ongoing rally.
On the downside, 24,200 is expected to act as immediate support in case of profit booking, while the psychologically important 24,000 mark remains a critical level for maintaining the market’s bullish structure.
Investor Confidence Improves
Analysts attributed Monday’s gains to sustained buying in rate-sensitive and cyclical sectors, coupled with easing market volatility.
A decline in the India VIX, often referred to as the market’s fear gauge, suggested improving investor sentiment and reduced uncertainty among traders.
With earnings season approaching and domestic macroeconomic indicators remaining supportive, investors will closely monitor corporate results, global market cues and foreign institutional investor (FII) activity for further direction.
The four-session winning streak has strengthened market sentiment, although experts advise investors to remain selective and focus on fundamentally strong companies amid elevated valuations in certain sectors.
