Indian equity benchmarks are likely to open on a positive note on Monday as investor sentiment improves following signs of progress in US-Iran peace talks and a decline in crude oil prices. Lower oil prices have eased concerns over inflation and India’s import bill, providing support to domestic equities. Global cues remain largely favorable, while foreign investor inflows and optimism around major corporate developments, including Reliance Industries’ growth plans and the upcoming Jio Platforms IPO, are expected to keep market participants engaged during the session.
The total market capitalization of all BSE Sensex companies stood at Rs. 4,77,89,281 crore at Friday's close, underscoring the scale of India's benchmark index despite recent market volatility and sector-specific profit-booking.
Axis Direct's Rajesh Palviya said Nifty snapped its five-session winning streak, ending 154.90 points lower at 24,013.10 on Friday. However, supportive global cues and stable crude oil prices could aid sentiment. Analysts recommend buying on dips as long as the Nifty stays above 23,900.
Nifty 50 rose 0.58% to 24,152.10, while Sensex gained 0.66%. Positive global cues and buying in heavyweight stocks supported market sentiment.
USD/INR slipped 1.81% to 94.45, while crude oil, gold and copper declined. Natural gas gained 1.45%, reflecting mixed trends in commodity markets.
Bitcoin slipped to $63,300 amid uncertainty surrounding US-Iran negotiations. Investors are also focused on the upcoming US Core PCE inflation report. Analysts expect crypto markets to remain range-bound until clearer signals emerge from geopolitical and economic developments.
Kirloskar Oil Engines, Sahara Maritime, and NOCIL led stock gainers with gains of nearly 20%, while Aureate Trade, Varyaa Creations, and Amanaya Ventures emerged as the biggest losers amid sharp market-specific movements.
Reliance Industries shares traded near Rs. 1,337 after a volatile year. The stock recovered from June lows, while investors tracked Jio IPO developments, AI expansion plans and broader market sentiment.
The proposed Jio Platforms IPO could raise Reliance Industries' share of total BSE market capitalization from less than 4% to nearly 7%, strengthening the group's position among India's most valuable listed business conglomerates.
Infosys shares remained under pressure, falling to around $10.57 after a prolonged downtrend. Weak investor sentiment, global IT spending concerns and sector-wide selling continued weighing on the stock.
Kirloskar Oil Engines surged 20% to a 52-week high after securing a major order from HyperNext for AI-enabled data center power systems. The stock witnessed strong buying interest with pending buy orders and no sellers available.
Samsung launched advanced residential climate solutions featuring WindFree cooling, PM1.0 purification, SmartThings connectivity, and AI-enabled VRF technology. The offering targets India's growing demand for healthier indoor environments, energy efficiency, and smart home integration.
The BSE Consumer Durables index slipped 0.4%, making it the weakest-performing sector. Stocks such as Blue Star, Dixon Technologies, Titan Company, Berger Paints and Asian Paints were among the major intraday losers.
Deep Industries received an ONGC contract worth about Rs 83.81 crore for gas-compression charter-hiring services in Assam. The three-year award boosted investor sentiment, helping the stock trade modestly higher during the session.
Sun Pharmaceutical Industries gained 0.8% to Rs. 1,851.85 after announcing the acquisition of Innovcare Lifesciences for Rs. 271.2 crore. The deal will strengthen Sun Pharma’s presence in pharmaceuticals, nutraceuticals and cosmeceutical products, reinforcing its domestic healthcare portfolio.
Gold prices recovered to $4,205.30 per ounce and silver climbed to $65.78 per ounce, snapping a two-day decline. The rebound came as optimism around US-Iran peace talks supported safe-haven assets, while crude oil slipped to $75.29 per barrel amid easing geopolitical concerns.
New India Assurance surged 6.85% to Rs. 212.41 and touched a 52-week high of Rs. 218. The stock extended gains for a seventh consecutive session, supported by strong investor interest and trading volumes that were over four times its recent average.
Dr. Reddy’s stock is consolidating near 13.30 after recent volatility. Price remains trapped between support around 13.00 and resistance near 13.80, while declining volumes indicate cautious investor sentiment.
Bharat Electronics shares closed near ₹431 after recovering from recent lows. The stock is approaching a crucial resistance zone around ₹435–440, while sustained buying momentum may support further upside.
HDFC Bank, Reliance Industries and New India Assurance dominated trading volumes, while Vishvaprabha Ventures surged sharply among volatile stocks. Natural Biocon, Rajkamal Synthetics and Saj Hotels witnessed notable declines.
Indian equities closed higher with Sensex gaining 291 points and Nifty ending above 24,100. Pharma, media, IT and metal stocks led advances, while FMCG and consumer durables underperformed.
Indian markets closed higher on June 22, supported by easing geopolitical tensions and lower crude oil prices. Analysts expect Nifty to remain range-bound, with resistance around 24,200-24,230 and support near 23,950. Bank Nifty continues to show relative strength and may test 58,500 levels. Meanwhile, the rupee weakened despite softer crude prices due to stronger dollar demand. Stocks such as Voltas, SBI, RVNL and Bandhan Bank remained in focus on company-specific developments.