PSU Banks Lead Sectoral Gains as Markets Eye US-China Trade Talks
Indian equity markets continued their upward momentum on Monday, June 9, 2025, closing higher for the fourth straight session. The rally was driven by a mix of global and domestic cues—including optimism surrounding upcoming US-China trade talks in London, strong US jobs data, progress in US-India trade negotiations, and supportive monetary policy from the Reserve Bank of India.
The BSE Sensex touched an intraday high of 82,669 before settling at 82,445.21, gaining 256.22 points or 0.31%. The Nifty50 closed at 25,103.20, up by 100.15 points or 0.4%.
Broader markets outperformed the frontline indices, with the Nifty Midcap100 and Nifty Smallcap100 climbing 1.13% and 1.57%, respectively.
PSU Banks Shine Amid Broad-Based Rally
On the sectoral front, all indices except Realty ended in the green. The Nifty PSU Bank index surged 1.52%, driven by strong performances from Bank of India, Maharashtra Bank, Indian Bank, Indian Overseas Bank, Punjab National Bank, Canara Bank, Punjab and Sind Bank, and Union Bank of India. Other notable gainers included Nifty Oil & Gas, Private Banks, IT, and Energy, each up more than 1%.
Heavyweights Support the Rally
Out of the 30 Sensex constituents, 23 stocks closed higher. The top performers were Kotak Mahindra Bank, Bajaj Finance, Axis Bank, Bajaj Finserv, IndusInd Bank, Maruti Suzuki, Power Grid, NTPC, and TCS, with gains up to 3.2%. On the downside, ICICI Bank, Titan, Mahindra & Mahindra, Adani Ports, Tata Steel, and Bharti Airtel dragged the index slightly, ending in the red.
Volatility Edges Higher
The India VIX, which reflects market volatility expectations, inched up 0.43% to settle at 14.69, suggesting cautious optimism among investors despite the recent rally.
With global developments and domestic policy signals both playing constructive roles, market sentiment remains buoyant, although upcoming global trade outcomes and central bank cues will be closely watched.
