Market Midday, 16 June 2026: Sensex, Nifty Rise; IT, FMCG Stocks Lead Gains

Benchmark indices traded higher in afternoon deals on Tuesday. They were supported by gains in information technology, media and fast-moving consumer goods stocks. The developments came as global markets paused after a recent rally following the announcement of a US-Iran deal.

At 12:21 pm:

• The Sensex was up 0.38%

• The Nifty 50 was up 0.26%

Broader Markets Mixed

The broader market appeared to send mixed signals. At 12:22 pm, the Nifty Midcap 100 index was trading 0.19% lower. However, the Nifty Smallcap 100 index was up 0.09% during the same time.

Sectoral trends were also mixed. The Nifty IT index emerged as one of the top gainers. The Nifty Media and Nifty FMCG indices also gained. However, metal shares witnessed selling pressure. The Nifty Metal emerged as the worst-performing sectoral index during the afternoon session.

Top Stocks On Nifty 50

At 12:24 pm, the top five stocks on the Nifty 50 index were:

• Tata Consumer Products Ltd.

• HCL Technologies Ltd.

• Reliance Industries Ltd.

• Nestle India Ltd.

• NTPC Ltd.

Stock-Specific Action

• General Insurance Corporation of India (GIC) shares declined 6% in early trade as the government's offer-for-sale (OFS) for divesting 5% stake in the insurer opens today.

• HCL Tech shares jumped 3% in early trade after the company emerged as the lead investor for fresh funding for Sarvam AI, India’s largest pure play AI startup.

• Adani Enterprises stock jumped as much as 1.4% in early trade for a third straight session, after the company announced plans to form a strategic alliance with Jabil Inc to construct a large AI data centre infrastructure manufacturing platform.

• Devyani International and Sapphire Foods India shares rose up to 7% in early trade after the Bombay Stock Exchange (BSE) issued its observation letter for their proposed merger.

• Vedanta Aluminium, Hindalco Industries and NALCO shares declined up to 5% in early trade following an interim agreement between the US and Iran for resuming metal shipments through the Strait of Hormuz.

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Afternoon Trade Outlook

Market participants are likely to monitor global cues and corporate developments for the remainder of the session. Barring any sharp movement in overseas markets, domestic equities are expected to take cues from sectoral trends and institutional activity in late trade.

Sources:

Business Standard

The Economic Times

CNBC TV18