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Closing Bell: Nifty Settles Above 25,000, Sensex Gains Over 159 Pts; Hyundai Motors, Ambuja Cement Top Gainers
The Indian stock market is expected to open the day higher on Tuesday, June 24, after the Nifty closed below the 25k level the previous session due to geopolitical concerns sparked by the U.S. raid on Iran's nuclear facilities over the weekend, which raised worries of more escalation in the Middle East. As of 07:51 AM, the current Gift Nifty levels suggest that the Nifty will begin the trading session about 238 points higher amid the India VIX leveled down around the 14 mark.
A global risk-on rally was triggered by U.S. President Trump's statement of an anticipated ceasefire between Iran and Israel; stocks surged, but oil fell 3-5% as supply concerns subsided. While the U.S. dollar declined in general and the yen and euro climbed, Brent crude dropped to about $66.15/barrel, the lowest level since June 11. Asian stock markets-bolstered by a sudden sense of optimism about a potential ceasefire between Iran and Israel and a decline in oil prices.
A widespread risk-on spike occurred throughout Asia on Tuesday, driven by falling crude and belief in a ceasefire. While Indian markets may experience further selling pressure due to Monday's airstrike-driven worries, they remained cautious as crude prices recovered. Important factors to keep an eye on include oil trends, official ceasefire developments, and U.S. monetary signals.
Stock Market Live Updates: Tata Motors Shares Gain Nearly 2% Amid Auto Sector Rally
Tata Motors shares recovered strongly after a period of correction, gaining nearly 2% intraday before slightly easing. The rise was supported by high trading volumes and positive momentum in the auto sector, as reflected by a 1.56% increase in the Nifty Auto index.
Stock Market Live Update: Sundaram Finance Holdings Board Approves 4.99% Stake Acquisition in IMPAL
Sundaram Finance Holdings has announced that its board has approved the acquisition of up to 6,22,752 equity shares of ₹10 each in India Motor Parts & Accessories Limited (IMPAL). This proposed acquisition represents a 4.99% stake in IMPAL's paid-up equity share capital. Following the announcement, shares of Sundaram Finance traded slightly higher in response to the development.
Stock Market Live: PhonePe Hires Bankers For IPO
Stock Market Live: Digital payments platform PhonePe has formally kicked off its IPO plans. The top company is scheduled to hire a slate of top global and domestic banks to manage the issue, reported CNBC TV 18 citing sources. The company has appointed Kotak Mahindra Capital, JPMorgan Chase, Citigroup, and Morgan Stanley have been appointed as lead managers for the offering.
Stock Market Live: Vodafone Idea shares surge 7% After It Launched An AI-Powered Network In Partnership with Cyient
Stock Market Live: Vodafone Idea on Wednesday announced that it has entered into a partnership with Cyient for the development of an AI-powered network. Vodafone Idea shares are trading 7% higher at Rs 6.98 per share on BSE on Tuesday at 1:30 pm.
Stock Market Live: HCL Tech, AMD Forge Enters Into Alliance
Stock Market Live: HCL Tech and AMD Forge has entered into an alliance. According to the company's filing, the strategic alliance will help in accelerating enterprise digital transformation worldwide through advanced solutions in AI, digital and cloud. HCL Tech shares were trading 0.84% higher at Rs 1717 per share on BSE at 1 pm.
Stock Market Live: US FDA Closes Inspection Of Gland Pharma's Vishakapatnam Facility; Stock Up 3%
Stock Market Live: Gland Pharma on Tuesday has notified that US FDA has closed inspection of its Vishakapatnam facility. Gland Pharma shares are trading 3% higher at Rs 1776.05 per share on BSE at 12:26 pm on Tuesday.
Globe Civil Projects IPO Sees Strong Start, Subscribed 1.45 Times by 12:12 PM on Day 1
Qualified Institutional Buyers (QIB): 0.00 times Non-Institutional Investors (NII): 1.81 times Retail Investors: 2.07 times Overall Subscription: 1.45 times
Glenmark Pharma Launches New Cancer Drug Tevimbra
Glenmark Pharmaceuticals has launched a new cancer treatment called Tevimbra in India. The drug was approved by the Central Drugs Standard Control Organization (CDSCO). According to the company, Tevimbra is an advanced immunotherapy medicine made to treat certain types of cancer.
Eppeltone Engineers shares list at 90%
Eppeltone Engineers shares list at 90% premium over IPO price on NSE SME platform.
Rupee Rises 65 Paise Against US Dollar
Indian rupee strengthened by 65 paise, reaching Rs 86.13 per US dollar in early trading. This marks a strong recovery after hitting a five-month low. The sharp rise was supported by a mix of global and domestic factors that boosted investor confidence in the currency.
Market Outlook Today By Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited
The dramatic developments in West Asia culminating in President Trump’s announcement of ceasefire indicate that the worst of the conflict is over. The sharp reactions in the crude oil and stock markets suggest the geopolitical situation limping back to normalcy. Nifty which has been stuck in the 24500-25000 range will now decisively break out on the upside. But whether it will sustain at higher levels will depend on developments on the trade front. Since the pause on the reciprocal tariff ends on July 9th, bilateral trade agreements have to happen before that. Therefore, markets are likely to respond to developments on the trade front. Paints, adhesives, tyres and OMCs will respond positively to the sharp cut in crude. ONGC and OIL will be on the back foot. Investors can focus on reasonably valued domestic cyclicals like financials, aviation, telecom and capital goods where safety is higher.
Bank Nifty Derivatives Highlights By Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities
In the derivatives segment, the undertone remains cautiously optimistic. Put writers have been actively adding positions around current levels, signifying confidence in maintaining the ongoing support zones. At the same time, call writers have started building interest at higher strikes, reflecting expectations of a potential breakout. The 57,000 strike continues to hold the highest open interest on the call side, with 17.47 lakh contracts, acting as a notable resistance level. Meanwhile, heavy additions at the 56,000 put strike—amounting to 22.69 lakh contracts—establish a solid near-term support floor. The Put-Call Ratio (PCR) has remained stable at 0.86, indicating a consolidation phase with a slight bullish tilt. Max Pain is currently placed at 56,000, suggesting a tendency for the index to oscillate around this level as expiry approaches.
Nifty Derivatives Highlights By Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities
From a derivatives perspective, the sentiment skews toward cautious optimism. Put writers have aggressively built positions near current spot levels, indicating confidence in defending immediate supports. Concurrently, call writers have started shifting to higher strikes, hinting at an underlying bullish bias with scope for measured upside. The 25,000 strike remains the highest open interest zone on the call side with 1.11 crore contracts, thereby posing near-term resistance. Conversely, the 24,900 strike witnessed substantial put writing, with 84.62 lakh contracts, suggesting strong support around that level. The Put-Call Ratio (PCR) has inched up to 1.03 from 0.86, reflecting rising bullish sentiment and a growing tilt toward put writing. Max Pain stands at 24,800, indicating potential gravitational pull toward this level as expiry nears.
Bank Nifty Prediction By Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities
The index is receiving steady support from its short-term moving averages—specifically the 10-day and 20-day exponential moving averages—reinforcing the bullish structure. Despite being stuck in a narrow consolidation band, a breakout from this congestion is crucial to confirm a directional move. On the daily chart, an inside bar formation has emerged, indicating indecision as both buyers and sellers attempt to assert control. However, overhead supply continues to restrict a clean breakout. A key takeaway is the index’s ability to sustain above the crucial support area of 55,400–55,350, reflecting persistent buying interest on dips. A close above the 56,350 mark could act as a fresh trigger, propelling the index toward the 57,000–57,100 zone. Conversely, a break below 55,350 may invite further weakness, but until then, corrective moves are likely to attract accumulation.
Nifty Prediction By Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities
Technically, the index remains well-supported by its short-term moving averages, 10-DEMA and 20-DEMA, which further validate the ongoing positive setup. Although the index is confined within a narrow trading range, a breakout above the consolidation zone is crucial for establishing a clear directional bias. On the daily chart, an inside bar alongside a Doji candlestick has emerged, reflecting a balanced tussle between bulls and bears. Nevertheless, overhead supply pressure still persists. Encouragingly, the index continues to protect its critical support near 24,750–24,700, highlighting consistent buying interest at lower levels. A strong close above 25,250 would likely revive bullish momentum, potentially driving the index towards the 25,500 zone. On the flip side, any meaningful weakness will only surface if the index breaches 24,700—until then, pullbacks are expected to attract buying.
Bank Nifty Outlook Today By Om Mehra, Technical Research Analyst, SAMCO Securities
The RSI is placed at 55, indicating a neutral stance with no clear directional momentum. On the hourly chart, the middle Bollinger Band is acting as short-term support, while the broader base around 55,500 remains well protected. Nifty Bank continues to trade above both the 20 EMA and 50 EMA, which are positively sloped, suggesting that the medium-term trend remains bullish despite the recent consolidation. A decisive close above 56,400 would signal strength and may trigger a fresh upward move. On the downside, a break below 55,500 could lead to further weakness, potentially reaching 55,100. Until a breakout occurs, expect price action to remain range-bound with a milder tilt towards positive outlook.
Nifty Outlook Today By Om Mehra, Technical Research Analyst, SAMCO Securities
The Relative Strength Index (RSI) remains broadly neutral around 55. The MACD remains in negative territory, and the histogram continues to display red bars, indicating that the recent up move lacks follow-through and suggests the continuation of a consolidation phase. The index is still trading above both the 20-day and 50-day EMAs, which are gradually sloping upwards. Nifty is likely to continue consolidating unless a clear breakout occurs. A sustained move above 25,225 would confirm bullish strength and could lead to further upside, whereas a breakdown below 24,700 might trigger a deeper corrective phase. Until then, expect the index to move sideways with a slight bullish undertone.
Sector Update: Infrastructure | Timelines issued on pre-bid clearances to fasten NH construction
“In order to avoid delays in construction of National Highways (NH) after award and prevent contractual disputes as well as time and cost overruns, the Centre has synchronized the project approval, award and appointed date declaration activities with the milestones for land acquisition procedures and environment, forest and wildlife clearances. This a good move by the centre as it allows the contractors to mobilize immediately, reduces re-designs, and brings greater cost control and certainty on timelines. Following milestones are to be strictly adhered while awarding NH projects for which tenders are to be issued w.e.f. 1st June-25,” said Vaibhav Shah - JM Financial Institutional Securities Ltd.
Company Update: Delhivery | Setting up for the long cruise ahead
“While Delhivery has outperformed the market since announcing the acquisition of Ecom Express, we believe the uptick only reflects the benefits of consolidation. We expect significant re-rating considering the subdued headwinds over the coming year – 1) plateauing of Meesho’s insourcing at c.65%, and 2) rise in e-commerce shipments. Furthermore, we expect FY26 to see the peak impact of channel shift towards Quick Commerce and the impact would start tapering FY27 onwards. A combination of waning headwinds and benign competition (only Delhivery and Shadowfax remain relevant) at an attractive valuation of c.22x FY27E Adj. EBITDA help support our BUY rating with a Jun’26 TP of INR 450,” said Sachin Dixit - JM Financial Institutional Securities Limited.
Company Update: Metro Brands | Clarks and MBL’s partnership a step in the right direction
“Metro Brands has entered into a long-term distribution agreement with Clarks, under which it will be the exclusive retail and digital partner for the latter in India and neighbouring countries including Bangladesh, Bhutan, Nepal, Maldives and Sri Lanka. Metro Brands will manage Clarks’ e-commerce operations in India, the official Clarks India website and all digital commerce platforms, and has exclusive right to sell Clarks in all offline channels including Clarks mono-branded stores. We believe this partnerships is a step in the right direction as Clarks’ premium positioning perfectly complements MBL’s existing premium portfolio, where it generates ~88% of its revenue from premium products (Price >INR 1,500). Clarks registered ~INR 2bn consumer level sales in FY24 with an EBITDA margin of ~6%. We believe that Clarks’ access to 900+ stores of Metro Brands coupled with data-driven merchandising, and proven capabilities in brand building will not only help Clarks reach its historical sales over the next 2-3 years, but will also help it realise its full potential through curated product selections, premium store formats and a seamless omni-channel experience. MBL’s control over product pricing will ensure no dilution in the brand along with healthy profitability. We are not building in revenue from Clarks in our numbers as we await more granular details. We maintain BUY rating with an unchanged TP of INR 1,400 (58x EPS Pre Ind AS-116 Mar’27),” said Gaurav Jogani - JM Financial Institutional Securities Ltd.
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