Sensex Gains 100+ Points, Nifty Near 25,150 as RIL, IT Stocks Rally; OMCs Outperform

by Prasanna June 11, 2025 0 Comment

Financial and FMCG firms’ profit-booking caused benchmark indices to close higher but below their intraday highs. While selling pressure was present in the mid- and small-cap groups, the absence of new catalysts tempered investor mood. At 25,140, the Nifty 50 increased by 0.17%, while the Sensex gained 125 points to 82,511.

Large-cap companies outperformed their mid- and small-cap counterparts as the Indian stock market ended Wednesday’s trading session in a mixed manner. Despite finishing higher, benchmark indexes closed far below their intraday highs due to ongoing profit-booking in FMCG and financial companies. Nonetheless, the indices received support from increases in OMC and IT companies, which allowed them to close the session with slight gains.

The Sensex gained 123 points, or 0.15%, to end at 82,515, while the Nifty 50 closed above 25,000 for the third straight day, closing 0.15% higher at 25,141. The Nifty Smallcap 100 and Nifty Midcap 100 indices, on the other hand, fell more than 0.50%.

The differential trend across index heavyweights continues to affect general mood, and participants remain somewhat cautious in the face of conflicting global cues. All three oil marketing companies—IOC, HPCL, and BPCL—saw increases of up to 4% at the conclusion of the day among large-cap equities. Following the U.S. Energy Information Administration’s (EIA) forecast that oil inventories will increase by an average of 0.8 million barrels per day in 2025—0.4 million barrels per day more than the EIA’s estimate from last month—the rally took place.

As U.S. and Chinese officials reached a consensus on a framework to re-establish their trade truce and resolve China’s export restrictions on rare earth materials and magnets, domestic tech equities also saw robust purchasing on a day that was tumultuous.

According to Indian government sources cited by Reuters, bilateral trade negotiations between U.S. and Indian officials in New Delhi advanced, addressing important topics such as industrial goods, agriculture, tariff reductions, and non-tariff barriers.

In its Global Economic Prospects—June 2025 report, the World Bank predicted that India’s economy will expand at a slightly quicker rate of 6.5% in FY27 and 6.7% in FY28. However, citing rising trade tensions and policy uncertainty, it reduced its global growth prediction for the year to 2.3%.

Sectoral Performance: Banking falls behind oil and gas stocks

Five of the 13 sectoral indicators had positive endings. The best-performing index was the Nifty Oil & Gas index, which increased by 1.47%, followed by the Nifty IT index, which increased by 1.26%. Nifty Realty, Nifty Auto, and Nifty Pharma were among the other industries that reported strong advances.

However, PSU banks were still under selling pressure, as evidenced by the 1.04% decline in the Nifty PSU Bank index. Profit-booking in FMCG equities also caused a 0.7% decline in the Nifty FMCG index.

“Profit booking continues in the broader markets, driven by elevated domestic valuations,” stated Vinod Nair, Head of Research at Geojit Investments Limited, in response to today’s market performance. Nonetheless, the indices are being supported by large-cap resilience, as institutional investors are gravitating towards businesses with steady earnings projections. The auto and IT industries are still of interest; auto stocks are rising due to better monthly sales, while IT is profiting from hopes for a possible trade agreement between the US and China.

“In the meanwhile, the market is unsure of its course after the recent surge as investors await important macroeconomic data and trade negotiation updates. “Recent tariff increases are expected to drive a slight uptick in US inflation data, which is due later today,” he added.

Expert Rupak De, Senior Technical Analyst at LKP Securities, stated that bullish momentum is likely to continue towards 25,350. “The Nifty remained volatile throughout the day before closing flat,” he said. Nonetheless, as long as the index stays above the breakthrough threshold, the general mood is still optimistic. Furthermore, a bullish perspective is supported by the presence of a golden crossover. Any decline need to be seen as a chance to buy. At 24,850, crucial support is positioned. The trend is probably going to continue to be favourable as long as the index stays above this level, and it may soon go towards 25,350.”