Sensex Hits 77,155, Nifty Jumps 0.4% As Defence, Banking Stocks Lead Fourth Consecutive Rally

Indian equity benchmarks continued their upward momentum on Wednesday, June 17, marking a fourth consecutive session of gains. The BSE Sensex advanced 347 points to close at 77,156, while the NSE Nifty added 97 points to settle at 24,086, ending near the day’s high.

Market breadth remained positive, with advancing stocks outpacing decliners on the NSE at a 3:2 ratio.

Among sectoral performers, defence shares emerged as the most robust, with the Nifty Defence index posting the largest gains. Paras Defence surged 18%, while Bharat Dynamics and Cochin Shipyard were notable winners in the midcap space.

Banking stocks also supported the rally, with the Nifty Bank index rising 288 points to 57,085. IDBI Bank jumped 19% amid divestment news, and Yes Bank also gained strongly.

Leading individual contributors to the Nifty’s performance included Bharti Airtel, State Bank of India, Infosys, and Reliance Industries, keeping the index firmly in positive territory throughout the session.

Other midcap gainers included NBCC, which rose over 3% after reporting commercial space sales worth ₹2,857 crore in New Delhi.

In the energy segment, BPCL gained 2%, while Oil India and ONGC slipped as Brent crude fell below $79 per barrel.

Conversely, the Nifty Auto index lagged, with Tata Motors sharply lower following Jaguar Land Rover’s FY27 outlook. Eicher Motors was another major decliner in the sector.

From the Sensex constituents, notable gainers included Trent Ltd, Hindustan Aeronautics Ltd, Bharat Electronics Ltd, Hindalco Industries Ltd, Eternal Ltd, and Tata Steel Ltd.

The top laggards included Tata Motors Passenger Vehicles Ltd, Cipla Ltd, ONGC, Bajaj Finserv Ltd, Axis Bank Ltd, and Dr. Reddy’s Laboratories Ltd.

Overall, the markets displayed broad-based participation, with strength in defence, banking, and select IT and consumer stocks offsetting weakness in autos and select energy and pharma names, sustaining the ongoing rally.