Sensex ends over 250 points higher, Nifty settles at 24,168 amid easing crude oil prices
Mumbai, June 18
Indian equity benchmarks extended their gains for a fifth straight session Thursday with the Sensex closing above 77,000 and the Nifty ending at 24,168, supported by easing crude oil prices and sustained buying interest across key sectors.
The BSE Sensex settled at 77,409.98, up 254.36 points or 0.33 per cent, while the NSE Nifty 50 gained 82.30 points or 0.34 per cent to close at 24,168.
Most sectoral indices ended in the green, led by gains in realty, healthcare, chemicals and pharmaceuticals. Banking stocks also remained supportive, while the IT pack emerged as the top laggard, with Nifty IT declining over 1 per cent.
Among the top gainers on the BSE were IndiGo, Trent, NTPC, BEL, HDFC Bank, SBI, Power Grid, Adani Ports, Tata Steel, Axis Bank and Sun Pharma. Infosys, Tech Mahindra, TCS and HCL Tech were among the major losers.
According to Riyank Arora, Associate Vice President - HNI & Derivatives at Hedged.in, the market's technical setup continues to remain positive after key breakouts in benchmark indices.
"The Nifty has confirmed a breakout above the 24,100-24,150 resistance zone, indicating strengthening bullish momentum. As long as the index sustains above 24,050, the positive trend is likely to remain intact," Arora said.
He added that the Sensex has also broken above the crucial 77,300 level, signalling improving market strength and opening room for further upside in the near term.
Abhishek Kumar, SEBI RIA and founder of SahajMoney, said, "Indian equities closed the session in positive territory, validating the morning's upbeat signal despite some pressure from IT stocks."
He noted that lower crude oil prices continued to support oil-sensitive sectors and helped markets maintain their positive trajectory.
Market analyst Vipin Dixena said the Nifty 50 is showing renewed bullish momentum, with the index holding above the key 24,000 support level.
"The advance-decline ratio reflects favourable market breadth, while the overall setup remains supportive for a buy-on-dips approach," he said.
"The IT sector lags (-1.5%) dragging Nifty IT, while Max Healthcare (+2.8%) and HDFC Bank (+1.9%) lead gains, indicating sector rotation favouring banking over technology," he added.
Market will continue to monitor global developments, crude oil prices and key support levels for further direction in the coming sessions.
— ANI
Reader Comments
My portfolio is finally seeing some green! 🌿 Been holding HDFC Bank for a while, glad to see it gaining. But I'm not getting too excited—these markets can turn any moment. Let's see how long this rally lasts with global uncertainties.
As an NRI watching from the US, it's interesting to see Indian markets bucking the global trend. Lower crude is a big positive for India's import bill. But the divergence between banking and IT sectors shows a clear rotation happening.
Sensex at 77K is incredible! But honestly, the common man isn't feeling this in their pockets. Petrol prices are still high, and inflation is eating into savings. These index levels feel disconnected from ground reality. Just my two paise. 🤷♂️
Good to see the market sustaining above 24,100 levels on Nifty. The technical breakout looks convincing. I'm watching the banking sector closely—HDFC Bank's momentum could take us higher. But IT weakness is a concern for export-driven growth.
Another day, another record high! 🙌 But I wish the media would also cover how many small investors are struggling. Not everyone can afford HDFC Bank or NTPC shares. Need more inclusivity in market growth, not just for big players.
J We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.