Indian Indices Surge to Eight-Month High; Bank Nifty Hits Record
Key Takeaways
- RBI's surprise policy easing and U.S.-India trade talks boosted Sensex and Nifty.
- MCX shares jumped 7% after approval to launch electricity derivatives in India.
- Bajaj Finance shares hit a 52-week high after announcing a stock split and bonus issue.
- Afcons Infra shares jumped nearly 6% after securing Rs 700 crore Reliance order.
- Capri Global shares surged 19.5% after launching Auto Pay for Gold Loans.
Top Stories
Indian indices close in green, Nifty hits eight-month high.
On June 9, 2025, Indian benchmark indices, Sensex and Nifty, closed positively, marking the fourth consecutive session of gains. This surge was fueled by the Reserve Bank of India’s surprise policy easing, strong U.S. jobs data, and progress in U.S.-India trade talks, with the Nifty reaching an eight-month high and the banking index hitting a record intraday peak.
Bank Nifty hits record high after RBI policy easing.
On June 9, 2025, banking and financial stocks led the market rally following the Reserve Bank of India’s surprise policy easing and shift to a neutral stance. The Bank Nifty index reached an all-time high of 57,049.50 during the session before closing 0.5% higher.
NBFC stocks rally on RBI's policy shift.
On June 9, 2025, shares of NBFCs like IIFL Finance, Manappuram Finance, Muthoot Finance, Bajaj Finance, Shriram Finance and Cholamandalam Investment and Finance Company rallied up to 8.05% on the BSE. Investors cheered the Reserve Bank of India's shift to a neutral policy stance after delivering a surprise outsized rate cut, aimed at reviving credit growth and supporting bank margins.
RBI rate cut boosts short-term bonds, liquidity.
On June 9, 2025, the Reserve Bank of India (RBI) surprised the market with a 50-basis point rate cut and a cash boost, potentially encouraging companies to accelerate their public listing plans. Short-term bonds rallied after the RBI's surprise move to slash the cash reserve ratio, injecting 2.5 trillion rupees of liquidity.
MCX jumps 7% on electricity derivatives approval.
On June 9, 2025, MCX shares surged 7% to Rs 7,955.30 on the BSE after receiving regulatory approval to launch electricity derivatives, a first for India. The stock faces a hurdle at 8430, with near-term support at 7050.
Bajaj Finance hits 52-week high on stock split news.
On June 9, 2025, Bajaj Finance shares rose 2.67% to ₹9,623 on the BSE, reaching an intraday high of ₹9,785.90, after announcing June 16, 2025, as the record date for a 1:2 stock split and a 4:1 bonus issue. The stock hit a 52-week high of ₹9,785.90.
Afcons Infra jumps on Rs 700 crore Reliance order.
On June 9, 2025, Afcons Infrastructure shares jumped nearly 6% to Rs 460.7 on BSE after securing a work order from Reliance Industries for Vinyl Projects in Dahej, Gujarat. The contract, valued at approximately Rs 700 crore, includes civil, mechanical, and associated works involving installation, testing, and commissioning. According to Trendlyne, the average target price for Afcons Infra is Rs 543, indicating a potential upside of 21%.
Capri Global shares surge 19.5% on Auto Pay launch.
On June 9, 2025, Capri Global shares skyrocketed 19.5% to Rs 181.55 on the BSE. This followed the announcement of its Auto Pay facility for Gold Loans, aimed at making gold loan repayments more convenient and secure.
Analyst Insights
RBI actions benefit MFIs, NBFCs, larger banks.
On June 9, 2025, Sandip Sabharwal highlighted the positive impact of RBI's actions, including rate cuts and easing stress on unsecured loans. This particularly benefits MFIs and NBFCs, also favoring larger banks and diversified NBFCs.
Experts recommend buying Bharat Forge, Oberoi Realty, others.
On June 9, 2025, market experts recommended buying Bharat Forge, Oberoi Realty, Manappuram Finance, L&T Finance (June 26 Expiry), and Trent (June 26 Expiry) for short-term trading.
Wall Street banks positive on Indian equities amid uncertainty.
On June 9, 2025, Wall Street banks reinforced their positive outlook on Indian equities, even amidst global trade uncertainties. JPMorgan recommended short positions on one-month Nifty volatility, while Bank of America suggested using cheaper hedges to protect long positions, following the RBI’s liquidity boost.
Morgan Stanley: India recovery hinges on government spending.
On June 9, 2025, Gokul Laroia of Morgan Stanley commented that the Indian market recovery depends on government spending and the revival of rural demand. He also noted changing sentiments of global investors towards India and justified India's high valuations with its earnings growth and ROE.
LKP Securities recommends buying Jindal Saw, IRB Infra, Exide.
On June 9, 2025, Vatsal Bhuva from LKP Securities recommended buying Jindal Saw around Rs 228-231 with a target of Rs 247 and a stop loss at Rs 221. He also suggested buying IRB Infra around Rs 52-53 with a target of Rs 57 and a stop loss at Rs 51, and Exide Industries around Rs 400 with a target of Rs 426 and a stop loss at Rs 386.
Market Movers
Sensex, Nifty positive for fourth session, led by IT, auto.
On June 9, 2025, the Indian market saw Sensex and Nifty closing positively for the fourth consecutive session, driven by IT, auto, and pharma stocks, according to LKP Securities.
Reliance Industries closes slightly up, at Rs 1447.2.
Indian markets expected to trade higher, Nifty range 24500-25500.
On June 9, 2025, Indian markets were expected to trade higher, tracking positive global cues. Options data suggests a broader trading range for the Nifty between 24500 to 25500 zones, with an immediate range between 24800 to 25200 levels.
Mumbai trading: Sensex up 256 points, Nifty up 100.
On June 9, 2025, several stocks rallied as much as 15% in Mumbai trading. The 30-share BSE Sensex closed 256.22 points up at 82445.21, while the 50-share index, NSE closed 100.16 points up at 25103.2. 39 stocks in the Nifty50 index closed in the green, while 11 stocks ended in the red.
Nifty50 up 118 points, Sensex up 375 points.
On June 9, 2025, around 10:25 AM IST in New Delhi, the NSE Nifty50 index was up 118.41 points at 25121.45, and the 30-share BSE Sensex was up 375.84 points at 82564.83.
Optimism around U.S.-China trade relations boosts sentiment.
On June 9, 2025, investor sentiment was positively influenced by optimism surrounding U.S.-China trade relations, with top trade officials from both countries scheduled to meet in London.
Strong U.S. jobs data reinforces hopes of economic resilience.
On June 9, 2025, nonfarm payrolls data released on Friday showed that job growth in May slowed less than expected in the U.S., boosting hopes of economic resilience.
Weak China economic data highlights trade tension strain.
On June 9, 2025, weak economic data from China underscored the ongoing strain resulting from prolonged trade tensions.
Kotak Bank closes up 3.21%, at Rs 2139.80.
Two-wheeler industry to surpass pre-Covid levels: CareEdge.
On June 9, 2025, CareEdge Ratings reported that India's two-wheeler industry is expected to surpass pre-Covid levels. An 8-9% volume increase is projected in FY26, driven by RBI's rate cuts.
Cochin Shipyard shares decline 3.8% on profit booking.
On June 9, 2025, Cochin Shipyard shares declined by 3.8% to Rs 2,302.15 on the BSE. Investors booked profits following a sharp 76.3% rally in the stock over the past month.
Data Patterns shares end 3.5% lower.
On June 9, 2025, the shares of Data Patterns ended 3.5% lower at Rs 2,955 on the BSE.
Integrated Hitech, Tirth Plastic hit 52-week low.
On June 9, 2025, stocks such as Integrated Hitech Ltd., Tirth Plastic Ltd., Archana Software, Nutricircle and Krishna Vent touched their new 52-week low.
Top losers: Bharti Airtel, ICICI Bank, Apollo Hospitals.
On June 9, 2025, around 10:25 AM IST in New Delhi, several stocks were trading lower, including Bharti Airtel Ltd. (down 0.75%), ICICI Bank Ltd. (down 0.74%), and Apollo Hospitals Enterprise Ltd. (down 0.7%).
Rupee Watch
Rupee depreciates 4 paise to 85.72 against dollar.
On June 9, 2025, the Indian rupee depreciated 4 paise to 85.72 against the U.S. dollar in early trade, influenced by rising crude oil prices and the dollar index. The BSE Sensex advanced 0.42% to 82,531.47, and the Nifty rose 0.37% to 25,103.20.
Sector Spotlight
Sectoral buying in oil & gas, power, IT; selling in realty.
On June 9, 2025, sectoral buying was observed in oil & gas, power, energy, IT, and utilities, while selling pressure was seen in the realty sector.
Power stocks rise: RattanIndia, KEC, NTPC Green Energy.
On June 9, 2025, at 10:25 AM IST in New Delhi, several power stocks were trading higher, including RattanIndia Power Ltd. (up 3.31%), KEC International Ltd. (up 3.29%), and NTPC Green Energy Ltd. (up 3.24%).
Power stocks fall: Power & Instrumentation, Hitachi Energy.
On June 9, 2025, at 10:25 AM IST in New Delhi, several power stocks were trading lower, including Power and Instrumentation(Gujarat)Ltd. (down 2.93%), Hitachi Energy India Ltd. (down 1.98%), and GE Vernova T&D India Ltd. (down 1.53%).
Top Performers
Muthoot Finance hits 52-week high, up nearly 4%.
On June 9, 2025, Muthoot Finance closed with gains of nearly 4% and hit fresh 52-week highs. The stock broke out of a triangle pattern recently, indicating potential for further upside.
Hyundai Motor India shares surge to all-time high.
On June 9, 2025, Hyundai Motor India shares increased by 4.8%, closing higher after reaching a new all-time high of Rs 1,986.60 on the BSE. The stock retested its previous all-time high of 1934, a critical resistance point.
Nifty Midcap, Smallcap outperform headline indices, up 1.1%, 1.6%.
On June 9, 2025, the Nifty Midcap 100 and Nifty Smallcap 100 indices outperformed the main indices, rising by 1.1% and 1.6%, respectively.
MGL shares up 6.9% after brokerage target price increase.
On June 9, 2025, MGL shares ended 6.9% higher at Rs 1,421.30 on the BSE. This followed brokerage firms fixing a target price of up to Rs 1,705 after the company’s investor meet.
Mumbai trading: Somany Ceramics, Ajcon Global surge 20%.
On June 9, 2025, stocks that surged in excess of 15% in Mumbai trading included Somany Ceramics(20.00%), Ajcon Global(20.00%), Indef Manufacturing(19.99%), Oriental Carbon(19.99%), HB Stockholding(19.99%), Vamshi Rubber(19.98%), Hybrid Financial Services(19.98%), GOCL Corporation (19.98%), Reliable Ventures India(19.98%) and Creative Eye(19.92%). Stocks such as Ajcon Global, Indef Manufacturing, Reliable Ventures India, Hybrid Financial Services and OCCL Ltd. hit their fresh 52-week high.
Top gainers: Bajaj Finance, Kotak Bank, Axis Bank.
On June 9, 2025, around 10:25 AM IST in New Delhi, several stocks were trading higher, including Bajaj Finance Ltd. (up 3.29%), Kotak Mahindra Bank Ltd. (up 2.88%), and Axis Bank Ltd. (up 2.49%).
Company Beat
Suzlon Energy shares flat amid stake sale rumors.
On June 9, 2025, Suzlon Energy shares traded flat on the BSE at ₹67.23 amid rumors of promoters planning to sell stake in the company via block deal. Simultaneously, Goldman Sachs, Morgan Stanley, Motilal Oswal MF, Societe Generale and others purchased 19.81 crore equity shares (1.45% stake) of Suzlon Energy for Rs 1,309 crore from promoter entities through open market deals, reducing their combined holding to 11.8% from 13.25%.
GRSE shares flat after hitting high on MoU signings.
On June 9, 2025, GRSE shares traded flat at ₹3,257.90 on the BSE, after hitting a high of ₹3,417.15 following the signing of MoUs in Sweden and Denmark. GRSE shares rallied 5% after signing an MoU in Sweden with Berg Propulsion to jointly develop and manufacture propulsion equipment and systems.
HCL Technologies launches second delivery center in Kerala.
On June 9, 2025, HCL Technologies launched its second delivery center in Kerala, India. The closing price for HCL Tech was Rs 1648.5, a rise of 0.66%.
Early rains dampen demand for AC makers; shares decline.
As of June 9, 2025, early rains in India have dampened demand for room air-conditioner makers, with analysts noting a tapering off of demand as early as April. Industry volumes for the current quarter could be 25-30% lower year-on-year, and shares of Voltas, Blue Star, and Epack Durable have declined between 26% and 34% so far this year.
Hindustan Zinc surges ahead of dividend decision.
On June 9, 2025, Hindustan Zinc shares surged 4% to close at Rs 522.40 on the BSE, driven by investor confidence ahead of the board meeting scheduled for June 11, 2025, to consider the first interim dividend for the financial year 2025–26. June 17, 2025, is the record date for determining the eligibility of shareholders to receive the interim dividend, if declared. Hindustan Zinc closed its trading window for designated persons from June 9 to June 13, 2025, ahead of the board meeting, in compliance with SEBI's insider trading regulations.
Shankara Building Products' promoter divests 7.8% stake.
On June 9, 2025, Shankara Building Products' promoter and MD Sukumar Srinivas divested a 7.8% stake in the company for Rs 176 crore through open market transactions on the BSE. Following the sale, the promoters' holding decreased from 49.25% to 41.41%.
SEBI fines Motilal Oswal Financial Services Rs 3 lakh.
On June 9, 2025, SEBI imposed a penalty of Rs 3 lakh on Motilal Oswal Financial Services Ltd for violating stock brokers' norms, payable within 45 days.