Sensex Surges 900 Points to 82,800; Nifty Crosses 25,200 – Strong Buying in Banking, Auto, and IT Stocks

Mumbai | On the second trading day of the week, Tuesday, June 24, the Sensex is trading at the 82,800 level, rising by around 900 points (1.1%). The Nifty is also up by approximately 280 points (1.10%), reaching 25,250.

Out of the 30 Sensex stocks, 29 are trading in the green. Stocks like Adani Ports, Bajaj Finserv, and Asian Paints have gained up to 3%. NTPC has shown a slight decline.

Among the 50 Nifty stocks, 16 have registered gains. All NSE sectoral indices are up. Nifty PSU Bank is up by 1.28%, Realty by 1.18%, IT by 1.14%, Oil & Gas by 1.06%, and Metal and Auto by 1.00%.

4 Key Reasons for Market Rally:

Ceasefire Between Iran and Israel:
US President Donald Trump claimed a ceasefire between Iran and Israel at 3:30 AM on Tuesday, reducing geopolitical tensions and boosting market sentiment.

Fall in Crude Oil Prices:
Today, crude oil prices dropped by 2%, bringing Brent crude to $67.17 per barrel. Oil prices had surged 10% since the beginning of the conflict.

Strong FII and DII Support:
Backed by foreign institutional investors (FIIs), the market is gaining strength. On Monday, FIIs bought shares worth ₹5,591.77 crore in the Indian equity market.

RBI Eases Infrastructure Lending Rules:
The RBI relaxed funding norms for banks and NBFCs for infrastructure projects, enabling greater liquidity, which has boosted banking stocks and provided support to the broader market.

Asian and US Markets Also Rise

Japan’s Nikkei is up 1.08%, trading at 38,769

South Korea’s KOSPI is up 2.48% at 3,089

Hong Kong’s Hang Seng has jumped 2.02% to 24,168

China’s Shanghai Composite is up 0.96% at 3,414

On June 23, the US markets also ended in the green:

Dow Jones up 0.89% to 42,582

NASDAQ Composite rose 0.94% to 19,631

S&P 500 climbed 0.96% to 6,025

FIIs Bought Shares Worth ₹5,592 Crore on June 23

On June 23, foreign investors (FIIs) bought ₹5,591.77 crore worth of equities in the cash segment. At the same time, domestic institutional investors (DIIs) sold ₹1,874.38 crore worth of shares.

So far in June, FIIs have made net purchases of ₹9,488.98 crore, while DIIs have recorded net purchases of ₹54,911.92 crore.

In May, FIIs had made net purchases of ₹11,773.25 crore, and DIIs had made net purchases of ₹67,642.34 crore.

Markets Declined Over 500 Points on Monday

On the first trading day of the week (June 23), the Sensex had fallen 511 points, closing at 81,897. The Nifty declined by 141 points, ending at 24,972.

Out of the 30 Sensex stocks, 9 advanced while 21 declined. HCL Tech, Infosys, and Larsen & Toubro fell by 2.3%, whereas Trent and BEL rose by 3.4%.

Among Nifty stocks, 35 out of 50 ended in the red. NSE’s IT index fell by 1.48%, Auto by 0.92%, and FMCG by 0.74%. The Media index rose by 4.39%, while Metal and Consumer Durables ended higher.