Market Wrap, 22 June 2026: Benchmarks Hover Near Flatline As IT Stocks Gain

The Nifty 50 and the Sensex traded in a narrow range at the end of Monday’s trade. They surrendered a part of their gains from the day's high. At close:

• Nifty 50 stood at 24,102.90, up 0.37%

• Sensex stood at 77,094.07, up 0.38%

While frontline indices struggled for direction, broader markets outperformed. The Nifty Midcap 100 index closed 0.34% higher. The Nifty Smallcap 100 index gained 0.60%.

IT Stocks Gain

Among sectoral indices, the Nifty IT index emerged as a decent performer, rising more than 0.74%. The gains helped support the broader market. It also aided in offsetting weakness in some other pockets.

Apart from the Nifty IT, the Nifty Oil & Gas and Nifty Chemicals also traded in the positive territory. However, the Nifty Consumer Durables underperformed (see table).

Other Important Headlines

Here are the other crucial news items of the day:

• Basmati rice exporters fear that prices could decline 5% to 10% following disruptions in West Asia shipments.

• LG Electronics India targets to sell 2 million air conditioners on the heels of growing demand, thereby boosting its FY27 outlook.

• The United States of America (USA) has formally approved support services for India's M777A2 howitzers and Apache helicopters under a deal valued at approximately USD 482.2 million.

• IIT Roorkee, in collaboration with IvyCap Ventures and NuQuant, has come up with a ₹1,000 crore super endowment fund to bolster India's deep-tech innovation.

Also Read- SEBI Reintroduces Open-Market Buybacks, Cuts AIF Launch Timeline To 10 Days

Gold And Silver Watch

Gold and silver prices traded higher on the Multi-Commodity Exchange (MCX) in early trade following the announcement of the peace deal between the US and Iran. At 15:40, gold June futures on the MCX stood at ₹1,49,099 per 10 grams, up 1.29%. July silver futures during the same time stood at ₹2,38,348 per kg, up 2.21%.

Experts feel that investors are likely to closely monitor if the Nifty 50 and Sensex can break out of their current narrow trading range. Market participants are also likely to monitor whether the strength in IT stocks continues in the coming trading sessions.

Sources:

Business Standard

The Economic Times