Nifty 50 Jumps 218 Points, Sensex Rises 718 Points; Auto and Realty Stocks Lead Gains

Market Update at 12:19 PM: Indian benchmark indices continued to trade higher in afternoon deals on Thursday, supported by strong buying in auto and realty stocks. Positive cues from Asian markets also helped sustain the upward momentum in domestic equities.

As of 12:00 PM, the Nifty 50 was trading 217.95 points, or 0.91 per cent, higher at 24,239.60. The Sensex gained 717.59 points, or 0.93 per cent, to 77,708.81.

Among the Nifty 50 constituents, InterGlobe Aviation, Shriram Finance, and Mahindra & Mahindra emerged as the Top Gainers, contributing to the market's positive performance.

The broader market also remained in positive territory. The Nifty MidCap index was up 0.39 per cent, while the Nifty SmallCap index advanced 0.25 per cent, indicating continued participation beyond frontline stocks.

On the sectoral front, the Nifty Auto and Nifty Realty indices outperformed the broader market, driven by strong investor interest in the sectors. However, the Nifty Metal and Nifty Media indices lagged their peers and underperformed during the session.

Overall, Indian equities maintained a firm undertone, backed by gains in key domestic sectors and supportive trends across Asian markets.

Market Update at 09:35 AM: The Nifty and the Sensex rose, tracking positive global cues.  

As of 9:17 AM, the Nifty50 was up 0.39 per cent or 93.25 points at 24,114.90, and the Sensex rose 311 points or 0.4 per cent to 77,301.27.

InterGlobe Aviation, Shriram Finance, and Mahindra & Mahindra were the top gainers in the Nifty index. 

In the broader markets, the Nifty MidCap and the SmallCap were trading 0.56 per cent and 0.36 per cent higher, respectively.

Sector-wise, the Nifty Auto and the Nifty Realty outperformed, meanwhile, the Nifty Metal and the Media underperformed.

Pre-Market Update at 7:40 AM: Indian benchmark indices Sensex and Nifty 50 are likely to begin Thursday's session on a positive note, supported by a sharp decline in crude oil prices and encouraging signals from Gift Nifty. As of 7:25 a.m., Gift Nifty was trading near 24,127, indicating a premium of nearly 100 points over the previous close of Nifty futures and pointing towards a firm start for domestic equities.

Global cues remained mixed. Asian markets traded cautiously, while U.S. equities ended mixed overnight as weakness in major technology stocks weighed on broader sentiment.

Investor attention remains focused on developments surrounding the U.S.-Iran situation. Traffic through the Strait of Hormuz has gradually normalized following the initial peace agreement between the two countries, easing concerns over disruptions to global oil supplies. Fresh diplomatic talks between the U.S. and Iran are expected to take place in Switzerland next week.

In the cryptocurrency market, Bitcoin fell below the USD 60,000 mark and touched a low of USD 59,023, its weakest level since October 2024. The decline triggered significant liquidation of bullish positions ahead of the expiry of approximately USD 10 billion worth of Bitcoin options on Friday.

Gold prices extended losses amid a stronger U.S. dollar and expectations of further interest rate tightening. Spot gold slipped 0.4 per cent to USD 3,985.89 per ounce, while gold futures eased 0.2 per cent to USD 4,001.60 per ounce. Silver prices also declined modestly.

Crude oil continued its downward trajectory as concerns over supply disruptions eased. Brent crude futures fell 0.54 per cent to USD 73.34 per barrel, while U.S. West Texas Intermediate crude declined 0.38 per cent to USD 70.07 per barrel.

Meanwhile, the U.S. dollar remained firm, with the dollar index hovering around 101.6 after touching a 13-month high. U.S. Treasury yields also softened, supported by lower oil prices and increased demand for government bonds.

Derivatives data suggests a cautiously positive undertone ahead of the monthly expiry. The Put-Call Ratio (PCR) stands at 1.18. On the put side, significant open interest addition was observed at the 24,000 strike, making it a key support level. On the call side, the highest open interest addition among out-of-the-money strikes was recorded at 24,500, while the highest open interest remained concentrated at the 25,000 strike. Significant unwinding was seen at the 25,000 call strike.

For the June 25 session, Nifty 50 faces immediate resistance in the 24,140-24,150 zone. A sustained move above this range could open the path towards 24,300 and subsequently 24,500. On the downside, immediate support is placed near 24,000. If profit booking emerges, the index may find support around 23,800, followed by the 23,550 level. The recent recovery has improved near-term sentiment, though a breakout above 24,150 remains crucial for further upside.

Stock-specific action is expected to remain in focus. Tata Steel infused Rs 1,625 crore into wholly-owned subsidiary T Steel Holding Pte to strengthen its overseas balance sheet, support debt restructuring and fund decarbonization initiatives in Europe. LIC announced that Chief Financial Officer Sunil Agarwal has resigned and will step down effective July 14, 2026. Embassy Developments signed a memorandum of understanding with the Uttar Pradesh government to invest Rs 1,500 crore in premium Real Estate projects in Lucknow.

HCLTech announced strategic partnerships with Neste, Nokia and Nagpur Municipal Corporation across artificial intelligence, telecom innovation and sports technology. IRFC will see attention after the government exercised the green-shoe option in the ongoing offer for sale, enabling the sale of an additional 1 per cent stake. Raymond clarified reports regarding a potential acquisition of German Aerospace company Deharde and stated that Rs 330.88 crore raised through a preferential issue has been earmarked for possible future acquisitions.

CreditAccess Grameen approved the allotment of non-convertible debentures worth Rs 325 crore through a private placement. Oberoi Realty clarified that its Gurgaon project has only been registered on the RERA portal and that final certification and registration details are still pending. Cipla's board will meet on July 23, 2026, to consider and approve first-quarter FY27 financial results.

No stock is under the futures and options ban for June 25.

Foreign Institutional Investors (FIIs) remained net sellers on June 24, offloading equities worth Rs 1,843.40 crore. Domestic Institutional Investors (DIIs) continued to provide support, purchasing shares worth Rs 3,637.26 crore.

Indian equities ended Wednesday's session with strong gains. The Sensex advanced 790.54 points, or 1.04 per cent, to close at 76,991.22, while the Nifty 50 rose 197.55 points, or 0.83 per cent, to settle at 24,021.65.

Wall Street delivered a mixed performance. The Dow Jones Industrial Average gained 182.06 points, or 0.35 per cent, to close at 51,848.90. However, the S&P 500 declined 0.10 per cent to 7,358.22, while the Nasdaq Composite fell 0.43 per cent to 25,476.64 as weakness in major technology stocks weighed on sentiment.

Among technology names, Nvidia, Microsoft, Micron Technology, Apple and Tesla ended lower, limiting gains in the broader market.

Overall, lower crude oil prices, positive Gift Nifty indications and strong domestic institutional support are expected to provide a constructive backdrop for Indian equities heading into the monthly derivatives expiry session.

Disclaimer: The article is for informational purposes only and not investment advice.

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