The Indian stock markets started on an encouraging footing on Wednesday, as the key benchmark indexes, namely the Sensex and Nifty, continue to maintain the winning momentum driven by favorable global factors and reduced geopolitical tensions. Investor sentiment was encouraging, with buying activity across segments, including consumer durables, IT, and media stocks, helping the Nifty regain the 24,000 level. It is worth noting that traders' focus will be on Reliance Jio's IPO, the Fed meeting, and sliding oil prices.

Equity indices in India opened on the positive side in the early hours of trade on June 17 as the ongoing upturn momentum continued. Sensex rose more than 100 points while Nifty breached the 24,000 mark amid favorable global sentiments, improved geopolitics, and reduced crude oil prices.

Indices related to various sectors witnessed a predominantly positive trend, indicating buying across all segments. Consumer Durables sector index outperformed other sectors with an almost 2% gain, followed by IT and Media. Nevertheless, Metal, Realty, and Public Sector Bank indices were lagging due to some profit booking activity in certain selected sectors.

Reliance Industries shares are showing signs of recovery after finding strong support near the Rs. 1,250–1,260 zone. The stock is currently trading around Rs. 1,330 and has rebounded from recent lows, supported by improved buying interest. However, the broader trend remains weak, with resistance placed at Rs. 1,350–1,380. A decisive breakout above these levels could strengthen momentum, while a fall below Rs. 1,250 may trigger fresh selling pressure.

Vedanta Iron and Steel shares continued their impressive post-listing run, hitting the 5% upper circuit for the third straight trading session. The stock has rallied approximately 16% since its market debut, reflecting strong investor enthusiasm. Sustained buying interest and positive sentiment toward the company have contributed to the stock’s sharp upward momentum.

Shares of General Insurance Corporation of India declined nearly 4% after the government opened a Rs. 3,088-crore Offer for Sale to retail investors. The OFS floor price was fixed at Rs. 352 per share, representing a discount to the previous closing level. Investors reacted cautiously as the divestment process increased short-term supply concerns.

The chart below shows the percentage gains recorded by the top-performing stocks highlighted during today's session. Brigade Enterprises led the rally, followed by Rajesh Exports and Metropolis Healthcare, reflecting strong buying interest across realty, healthcare, industrial, and technology sectors.

Reliance Jio is reportedly preparing to file draft papers for its much-anticipated $4 billion initial public offering. According to reports, the filing could take place ahead of Reliance Industries Chairman Mukesh Ambani’s annual shareholder meeting. This development has created considerable buzz in the stock market, with many eyes on one of India's biggest prospective IPOs.

Among the biggest gainers for the day was Brigade Enterprises, which gained almost 7% from its previous close. Other gainers included Rajesh Exports, Metropolis Healthcare, GE Power India, and Redington. Buying interest in stocks related to real estate, healthcare, industries, and technology helped boost market sentiment.

Early trading saw losses for companies like Cyient, which shed over 5% in value, while Sterlite Technologies, Embassy Developments, and other stock counters traded on a weak note. Losses in certain counters were seen due to profit-taking and corporate factors, despite gains across the board.

Analysts remain bullish on the Nifty index, citing a breakout above 24,100, with a target of 24,600 in the next few weeks. Analysts say the overall market structure remains positive, with support at 23,800, while major support lies below 23,500–23,600.

Oil prices falling off a cliff have boosted the outlook on Indian equities and bonds. It is believed that softening oil prices will support the rupee, reduce inflationary pressures, and aid the government bond market. Bond yields have turned positive amid improving macroeconomic fundamentals and inflows from foreign investors.

Global markets delivered mixed signals as investors awaited the Federal Reserve’s policy announcement. Japan’s Topix and Australia’s ASX 200 posted gains, while Hong Kong’s Hang Seng declined. S&P 500 futures traded modestly higher, reflecting cautious optimism. Market participants worldwide are monitoring interest rate guidance and economic projections from the US central bank.

Cyient shares fell nearly 6% on Wednesday after the stock turned ex-record date for its Rs. 720 crore buyback offer. The company has fixed a buyback price of Rs. 1,125 per share, representing a premium of around 24% over the previous closing price. June 17 was set as the record date, making only existing shareholders eligible to participate in the buyback process, while new investors purchasing shares after the cutoff will not qualify.

Ola Electric and founder Bhavish Aggarwal have approached the Securities and Exchange Board of India (Sebi) with a settlement application to resolve proceedings linked to allegations of disseminating false and misleading information that may have influenced the company’s share price. The move seeks an amicable resolution without admission or denial of the allegations, potentially helping the EV maker avoid prolonged regulatory proceedings.

Yes Bank shares surged over 5% to around Rs. 25.12, marking a fresh multi-month high. Strong volumes and sustained buying momentum have pushed the stock above key resistance levels, with investors betting on improved business performance and a strengthening outlook for the private lender.

According to GoodReturns, gold prices remained firm on June 17, with 24K gold priced at Rs. 1,01,600 per 10 grams, 22K gold at Rs. 93,130 per 10 grams, and 18K gold at Rs. 76,200 per 10 grams. Silver traded near Rs. 1,20,000 per kilogram. Investors are closely watching the US Federal Reserve's policy decision, which could influence the direction of precious metal prices. 

Kotak Mahindra Bank expects inflation to remain around 5% for now but cautioned that uncertainty surrounding El Niño could alter the outlook. The bank anticipates a cumulative 50-basis-point rate hike cycle, with October emerging as the most likely timeline. It also believes crude oil prices are unlikely to sustain current elevated levels, helping keep India's current account deficit near 1.5% of GDP.

ANZ Research said the rupee is likely to remain broadly stable around current levels, even as inflation risks continue to rise. The firm identified the 93.50–94 per dollar range as a key support zone and noted that the Reserve Bank of India may focus on rebuilding forex reserves while absorbing foreign capital inflows into the economy.

The Indian stock markets are expected to open flat amid mixed signals from global markets as investors are cautious over the US-Iran agreement. GIFT Nifty also indicates a muted start, trading at 24,005 with a premium of 4 points from its previous Nifty futures close.

On Wednesday, the Sensex rose 544.15 points or 0.71% to settle at 76,808.48, while the Nifty 50 advanced 135.25 points or 0.57% to close at 23,989.15. The Indian rupee opened higher at Rs. 94.45 per dollar versus the previous close of Rs. 94.56.

Foreign investors (FIIs) net sold shares worth Rs. 748 crore, while domestic institutional investors (DIIs) net bought shares worth just Rs. 6 lakh on June 16. Read More…

Oil and Natural Gas Corporation (ONGC) is facing a fresh bout of investor skepticism as its share price retreats sharply from recent highs. The stock was trading at Rs. 245.65 on the NSE, significantly below its recent peak of around Rs. 305, marking a correction of nearly 20% in just a few weeks. The decline reflects concerns over weakening crude oil prices and their potential impact on profitability, but the broader investment case for India’s largest upstream energy producer remains largely intact.

Tata Consultancy Services secured a multi-year contract to modernize and manage Elopak’s IT operations. The deal strengthens TCS’ presence in digital transformation services and highlights continued demand for large-scale enterprise technology partnerships.

Cyient fell over 4.5% to emerge among the top losers in midday trade. NFP Sampoorna Foods, Bosch Home Comfort India, Aarti Industries, and Embassy Developments also traded lower amid stock-specific selling pressure.

IDBI Bank surged more than 18%, leading the gainers' chart. Apollo Tyres, Brigade Enterprises, Spandana Sphoorty Financial, and Carborundum Universal also posted strong gains, reflecting broad-based buying across sectors.

Clay Craft India launched its Rs. 110 crore IPO on June 17. The ceramic tableware maker plans to use proceeds for capacity expansion and reported FY26 revenue of Rs. 179.89 crore.

Several stocks touched fresh 52-week highs during Wednesday's session, highlighting strong investor interest despite broader market volatility. GE Vernova T&D India gained over 4% to trade near Rs. 5,075, while GE Power India rose more than 3% to around Rs. 1,058. Welspun Corp and Bajaj Consumer Care also reached new yearly highs, reflecting continued momentum across select industrial and consumer-focused counters. Sterlite Technologies, despite touching a 52-week high earlier, traded lower during the session.

Fortis Healthcare said its income tax demand for Assessment Year 2024-25 has been reduced to Rs. 61.48 crore from Rs. 117 crore, providing significant relief and reducing potential financial liabilities.

Nifty IT emerged as the strongest sectoral performer, advancing 0.68% to 28,761.70, reflecting sustained buying in technology shares. 

Tata Motors Passenger Vehicles emerged as the biggest loser during afternoon trade, plunging more than 9% to Rs. 357.45 amid heavy selling pressure. NFP Sampoorna Foods, Bosch Home Comfort India, Cyient, and Aarti Industries also remained under pressure, declining between 3% and 5%. The weakness reflects stock-specific concerns and profit booking despite the broader market maintaining a positive bias.

Reliance Jio and the National Stock Exchange are expected to file IPO papers this week. Together, the offerings could raise nearly $6 billion, making it one of India's biggest listing events.

Investment platform Trackk has launched equity and F&O trading services targeting young investors. The company aims to reach five lakh users within a year and expand its offerings beyond stocks.

Reliance Industries shares closed around Rs. 1,332.70, up 0.29% for the day, after witnessing steady buying in the final hour of trade. The stock remained range-bound through most of the session before a late rally pushed it near the day's highs. Despite recent volatility, Reliance continues to hold above the key Rs. 1,320 support zone, indicating resilient investor interest as markets await further updates on the proposed Reliance Jio IPO.

Wipro’s Rs. 15,000 crore buyback closes on June 17. Analysts estimate eligible retail investors could earn returns of around 7–8%, depending on acceptance ratios and post-buyback stock performance.

The Indian rupee ended little changed on Wednesday, closing at Rs. 94.5250 per US dollar compared with its previous close of Rs. 94.56. The marginal gain reflects a balanced market as support from softer crude oil prices was offset by cautious investor sentiment ahead of key global developments, including the US Federal Reserve's policy decision.

Australia’s benchmark S&P/ASX 200 rose 0.5% to 8,966.30, its highest closing level in over two months, as easing Middle East tensions boosted investor confidence. Meanwhile, Japan’s Nikkei 225 climbed 0.7% to 69,902.25, after touching an intraday record high of 70,125.75, driven by continued enthusiasm around artificial intelligence-related stocks. The broader Topix index also gained 0.6% to 4,013.23, reflecting strong market breadth.

Indian equities ended the session on a strong note, with gains extending across large-, mid-, and small-cap segments. The Nifty 50 rose 0.40% to 24,085.70, while the Sensex advanced 0.45% to 77,155.62. Broader markets outperformed the benchmarks, with the Nifty MidCap gaining 0.52% and the Nifty SmallCap climbing 0.79%, indicating healthy risk appetite and wider market participation. The late-session surge helped Nifty finish comfortably above the 24,000 mark, reinforcing bullish sentiment among investors.

Naapbooks, Gowra Leasing and Euro India Fresh Foods rallied 20% to lead the gainers' list, while Chothani Foods plunged 17.5% and SEAMEC dropped over 16%. Terai Tea, Hathway Bhawani and Tranway21 Technologies also posted strong gains, whereas Shanthala FMCG, Unjha Formulations and Vandan Foods remained among the session's top losers.

The National Stock Exchange (NSE) is reportedly set to file its Draft Red Herring Prospectus (DRHP) for its long-awaited IPO, which could be valued at around Rs. 30,000 crore. The proposed issue is expected to be a pure Offer for Sale (OFS), with existing shareholders potentially offloading up to 6% stake. State Bank of India is likely to emerge as one of the largest sellers in the offering. The IPO could mark a major milestone in India's capital markets and become one of the country's biggest public issues.