This bullish momentum in the market was driven by strong buying in banking, finance, energy, and IT sectors. Shares of Kotak Mahindra Bank and Jio Finance rose by more than 3%.

23 out of 30 Sensex Stocks Gain
Out of the 30 Sensex stocks, 23 closed in the green while 7 recorded losses. The rally was led by banking and financial sector stocks. Positive investor sentiment and supportive global cues fueled the buying momentum.

Strong Signals from Global Markets
Indian markets received positive signals from global indices:

• Japan’s Nikkei rose 0.92% to 38,088

• South Korea’s KOSPI surged 1.55% to 2,855

• Hong Kong’s Hang Seng climbed 1.63% to 24,181

• China’s Shanghai Composite closed 0.43% higher at 3,399

On June 6, the US markets also closed strong:

• Dow Jones gained 1.05% to 42,76

• Nasdaq Composite rose 1.20%

• S&P 500 closed with a 1.03% gain

Investor Confidence on the Rise
Investor confidence is rebounding due to political stability in the country, positive global cues, and ongoing domestic economic reforms. According to analysts, if the current uptrend continues, the markets could soon reach new record highs.