Indian stock markets have shown robust gains in June 2025, driven in part by regulatory changes and strong sectoral performances. The Reserve Bank of India (RBI) eased gold loan rules, revising loan-to-value (LTV) norms, which boosted shares of gold financing companies such as Manappuram Finance and Muthoot Finance. Manappuram Finance shares rose about 1.9% to a record high, while Muthoot Finance rallied 10% over two days, pushing its market capitalization above ₹1 trillion. L&T Finance also saw its shares rise 2.5% to a 52-week high following its acquisition of Paul Merchants' gold loan business. Brokerages highlighted that non-banking financial companies (NBFCs) in the gold loan sector are set to benefit from the RBI's final guidelines. Broader market indices reflected positive momentum, with the BSE adding nearly $1 trillion in market capitalization since early March 2025, marking the highest gain among the top 10 global markets. The Nifty index reached an eight-month high, up 4.6% over one month and 11.8% over three months, with midcap and smallcap stocks outperforming. The Sensex and Nifty each gained over 12% amid strong global market performance, although analysts have expressed caution over high valuations and revised earnings estimates downward for fiscal years 2026 and 2027. Additionally, Aditya Birla Capital shares rose to their highest level since 2017 following block trades. Overall, the Indian equity market has rebounded strongly after a correction between October 2024 and February 2025, with a market capitalization increase of over 21% since March 2025.