Market Wrap, 24 June 2026: Sensex And Nifty 50 End In Green

Sensex and Nifty 50 ended Wednesday’s trading session on a strong footing. They were supported by strong buying in information technology, private banking and pharmaceutical stocks.

The rally was led by technology counters, which pushed the benchmark indices higher through the session. Upon close, the:

• Nifty 50 stood at 24,021.65, up 0.83%

• Sensex stood at 76,991.22, up 1.04%

Optimism In Broader Markets

The positive mood extended beyond large-cap stocks. The Nifty Midcap 100 index settled 0.10% higher. The Nifty Smallcap 100 index gained 0.39%. Among sectoral indices, the Nifty IT index gained significantly, rising 2.05%. Banking shares also remained in demand. The Nifty Bank and Nifty Private Bank indices outperformed several other sectoral gauges during the session.

Real estate stocks joined the rally as well, with the Nifty Realty index finishing among the top-performing sectors. The Nifty Metal index lagged the market and closed among the weaker sectoral performers (see table).

5 Factors Driving Rally

Five factors drove the D-Street rally today. These included:

• Easing of rate hike fears by the Reserve Bank of India (RBI) governor, Sanjay Malhotra.

• Rebound in global markets, including South Korea's Kospi and Hong Kong's Hang Seng, in early trade.

• Trade deal hopes between the United States of America and India, which is likely to open 1.4 billion Indian markets to American goods.

• Tumbling of oil prices below $77 per barrel, with oil tankers preparing to sail through the Strait of Hormuz.

• Heavy buying in IT and private bank stocks lifted the Nifty IT and Nifty Private Bank indices.

Other Important Headlines

Given below are some other important news items that made headlines:

• Over a dozen companies are preparing to collectively raise approximately ₹45,000 crore through initial public offerings (IPOs) next month.

• Andhra Pradesh launched India's first private gold mining project, developed with an investment of around ₹405 crore, at Swarnagiri in Kurnool district today.

• According to the new president of the Confederation of Indian Industry (CII), R Mukundan, India's economy is projected to grow around 7% this financial year.

Also Read- Knack Packaging IPO Opens 1 July; Company Looks To Raise Nearly ₹440 Crore

Gold And Silver Watch

Gold and silver prices fell on the Multi-Commodity Exchange (MCX) in early trade. At 15:42, gold June futures on the MCX stood at ₹1,44,400 per 10 grams, down 1.45%. July silver futures during the same time stood at ₹2,23,100 per kg, down 1.21%.

Investors are likely to watch whether the momentum in IT, private banking and pharma stocks continues in the coming sessions. The performance of broader market indices will also remain in focus after both mid-cap and small-cap segments outperformed several sectoral indices.

Sources:

Business Standard

The Economic Times