Indian Markets Rally for Fourth Straight Day on Banking Stocks and Falling Oil
Benchmark indices Sensex and Nifty extended their winning streak to a fourth consecutive session on Monday (July 6, 2026), driven by gains in blue-chip banking stocks and a decline in crude oil prices. Continued foreign fund inflows also supported the positive momentum in domestic equity markets.
The 30-share BSE Sensex rose 521.16 points, or 0.67%, to close at 78,285.07, after touching an intraday high of 78,398.06. The 50-share NSE Nifty gained 159.50 points, or 0.66%, to settle at 24,430.35.
Over the four-day rally, the Sensex has climbed 1,806.4 points (2.36%) and the Nifty has advanced 564.6 points (2.36%).
Among Sensex components, HDFC Bank was the top gainer, rising 3.59%. Other gainers included Mahindra & Mahindra, Bharat Electronics, Reliance Industries, ICICI Bank, and Maruti Suzuki. Lagging behind were Kotak Mahindra Bank, Tata Consultancy Services, Bajaj Finserv, and Power Grid.
Brent crude, the global oil benchmark, fell 0.82% to $71.53 per barrel, providing a tailwind for the markets.
Foreign Institutional Investors (FIIs) were net buyers of equities worth ₹1,355.33 crore on Friday (July 3, 2026), as per exchange data.
"Indian equities traded with a positive bias despite mixed global cues, supported by stable crude prices. Continued softness in crude would support inflation, the current account balance, OMC profitability, and overall macro stability," said Vinod Nair, Head of Research at Geojit Investments Ltd.
He added that profit-booking in crowded AI-led trades had impacted global markets, but India could perform well driven by large caps due to the improving trend in FII inflows.
In Asian markets, Hong Kong's Hang Seng Index closed higher, while South Korea's Kospi, Japan's Nikkei 225, and Shanghai's SSE Composite ended lower. European markets were trading mixed. US markets remained closed on Friday for Independence Day.
On Friday, the Sensex had gained 261.79 points (0.34%) to settle at 77,763.91, and the Nifty rose 95.15 points (0.39%) to 24,270.85.
