Markets Rally Further: Nifty Nears 25,250, Sensex Surges 700 Points
Top gainers on the Nifty included Titan Company, Infosys, M&M, Grasim Industries, and JSW Steel; losers included Bharat Electronics, Kotak Mahindra Bank, Eicher Motors, Axis Bank, and ONGC.
On the second day of June 25, Indian benchmark indexes continued to rise, with the Nifty trading above 25,200 on encouraging signs of a decline in crude prices and a tentative ceasefire between Iran and Israel.
The Indian indices began the day higher on the strength of promising international markets, and as the day went on, they maintained their gains to close close to the day’s high level amid purchasing in all sectors.
The Nifty was up 200.40 points, or 0.80 percent, at 25,244.75, while the Sensex was up 700.40 points, or 0.85 percent, at 82,755.51.
With the BSE midcap index up 0.6 percent and the smallcap index up 1.6 percent, the broader indices continued their gains for the fourth straight session.
Sectors and Stocks in Motion
Top gainers on the Nifty were Titan Company, Infosys, M&M, Grasim Industries, and JSW Steel; losers included Bharat Electronics, Kotak Mahindra Bank, Eicher Motors, Axis Bank, and ONGC.
With auto, consumer durables, IT, telecom, healthcare, and media all up 1-2 percent, all sectoral indices closed the day in the green.
After securing a sizable EPC order, Bajel Projects’ shares were frozen at the upper circuit, while Timex Group India’s shares fell 5% as the promoter sold a 15% holding through the OFS route. Reliance Infrastructure’s shares increased 5% after Reliance Defence got an export order worth Rs 600 crore from Rheinmetall Waffe Munition GmbH, KNR Construction’s shares increased more than 8% after winning an order worth Rs 4,801 crore, while MART InterMesh’s shares surged 7% following a double upgrade from Nuvama.
EID Parry, MCX India, Hyundai Motor, Max Financial, Home First Finance, Narayana Hrudayalaya, Bharti Airtel, AU Small Finance Bank, Max Financial, LT Finance, Aditya Birla Capital, and Vishal Mega Mart were among the nearly 100 companies on the BSE that reached their 52-week highs.
Aditya Gaggar, Progressive Shares’ director
After a robust start, the Index steadily compounded its gains and ultimately closed higher at 25,244.75, recording gains of 200.40 points. The day concluded well for every industry, with media and IT showing the best results. In the larger markets, there was a discrepancy: smallcaps outperform and gained 1.49%, while midcaps trailed the Frontline Index.
At long last, the Index closed decisively above 25,100, which is now anticipated to serve as immediate support. The Index looks to climb in the near term towards the 25,350–25,450 zone with the current trend.
Senior Technical Analyst Rupak De of LKP Securities
Following a solid start, the index stayed largely positive. As interest in purchasing equities increases, sentiment keeps getting better. Bullish traders are now hoping to move the Nifty towards 25,750 as their confidence has been bolstered by the ceasefire that followed the fighting between Israel and Iran. The surge may continue towards 25,750 if there is a breakout above the immediate resistance level of 25,350.
The 24,820–25,000 range is probably going to be a vital support on the downside. Unlike Call OI unwinding, unparallelled put writing displays traders’ bullish aggression.
The domestic equity market on Monday felt the aftershocks of a humiliating defeat for the BJP-led led NDA in the Read more
MUMBAI: Stunned by the margin of the BJP-led NDA's crushing defeat in the Bihar assembly elections, the Sensex opened over Read more
The rupee rose by 5 paise at 66.39 against the US dollar in early trade today on fresh selling of Read more
Shares of InterGlobe Aviation, which runs the low-cost airline IndiGo, made a strong debut on the exchanges today. Its shares Read more
