Nifty Ends Above 24,100; Defence Index Hits Fresh High, Monsoon Advances

The Indian equity benchmarks began Monday’s session on a firm note, with the Nifty 50 opening gap-up above the 24,100 mark. The index touched an Intraday high of 24,168 in early trade, but lack of strong follow-through buying kept it range-bound for most of the session. Profit booking emerged in the final hour, pulling the Nifty nearly 65 points lower from the day’s high. The index finally settled at 24,102.90, up 89.80 points or 0.37 per cetn. The BSE Sensex gained 291.17 points, or 0.38 per cent, to close at 77,094.07. Bank Nifty outperformed the frontline indices, rising 249.85 points, or 0.43 per cent, and ended within striking distance of the key 58,000 mark. Meanwhile, India VIX cooled off by nearly 1 per cent to close around 12.84, indicating easing volatility.

Here are the key highlights of the June 22, 2026, session:

Crude Oil Trades Below USD 80 Per Barrel

Brent crude slipped below USD 80 per barrel on Monday, giving up early gains as investors took comfort from signs of progress in the ongoing US-Iran peace talks. Qatar and Pakistan, which are facilitating negotiations in Switzerland, said both sides have agreed on a roadmap to work towards a final agreement within 60 days.

Earlier, oil prices had risen sharply after President Donald Trump warned of fresh strikes if Hezbollah continued attacks on Israel and cautioned Tehran against any move to close the Strait of Hormuz. Iranian media later reported that Tehran had suspended talks following Trump’s remarks, although sources familiar with the negotiations indicated that discussions were still underway. Crude movement through the Strait of Hormuz also remained steady over the weekend, with millions of barrels passing through the key route as Persian Gulf producers prepared to raise output.

IMD Forecasts More Rain As Southwest Monsoon Advances

Several parts of Maharashtra, Telangana, Odisha, Jharkhand, Bihar and Chhattisgarh are likely to receive rain over the next few days as the southwest monsoon continues to advance steadily across these regions, according to the India Meteorological Department.

UAE’s Reported Interest In BrahMos And Akashteer Puts BDL And BEL In Focus

Defence stocks came into focus in the final hour of Monday’s trade after a Reuters report said the United Arab Emirates is in talks with India to buy key defence systems, including the BrahMos supersonic cruise missile and the Akashteer air defence network. BDL, operating under the Ministry of Defence, is the primary manufacturer and integrator of the BrahMos missile system, while BEL has jointly developed Akashteer with the Indian Army.

According to Reuters, the discussions are still at an early stage but are moving quickly. The UAE has shown interest in multiple Indian weapon systems as it looks to strengthen its defence capabilities following the recent conflict in the Middle East. BrahMos, jointly developed by India and Russia, is among the world’s fastest cruise missiles and can be launched from land, sea and air platforms. Akashteer is a fully automated air defence command-and-control system that connects multiple sensors and weapons to counter aerial threats.

The report also stated that India’s successful use of systems such as BrahMos during last year’s conflict with Pakistan has increased global interest in indigenous defence equipment. India has already signed BrahMos export agreements with the Philippines, Vietnam and Indonesia, while several other countries have also shown interest.

A potential UAE deal would mark another important step in India’s defence export push, with overseas defence sales rising to more than USD 4 billion in FY26, according to government data. As a result, the Nifty India Defence Index jumped 1.47 per cent on Monday and recorded its highest-ever close.

Sectoral Performance: Nifty Media Leads The Gains

On the sectoral front, most key indices ended in the green, except Nifty FMCG, which slipped 0.41 per cent. Broader markets also saw buying interest, with the Nifty Midcap 100 rising 0.34 per cent and the Nifty Smallcap 100 gaining 0.60 per cent.

Among sectors, Nifty Media emerged as the top performer, advancing 1.42 per cent and extending its winning streak for the third straight session. Nifty Pharma followed with a gain of 1.24 per cent, also marking its third consecutive session of gains.

Nifty 50: Top Pullers And Draggers Of The Day

Reliance Industries, HDFC Bank and Infosys were the key contributors to the Nifty’s gains. Reliance Industries added 25.02 points to the index, followed by HDFC Bank with 22.01 points and Infosys with 10.71 points.

On the other hand, Asian Paints, Titan Company and Shriram Finance weighed on the index. Asian Paints dragged the Nifty lower by 5.79 points, while Titan Company and Shriram Finance pulled it down by 4.26 points and 3.45 points, respectively.

Market Breadth On June 22

Market breadth remained firmly in favour of advancing stocks. Out of 3,455 stocks traded on the NSE, 2,149 advanced, 1,206 declined and 100 remained unchanged.

A total of 171 stocks touched their fresh 52-week highs, while 28 stocks hit their 52-week lows. In addition, 165 stocks were locked in Upper Circuits, whereas 78 stocks were locked in Lower Circuits.

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