Indian equity markets staged a strong recovery on June 24, rebounding sharply after the previous session’s selloff. The BSE Sensex surged over 830 points to reclaim the 77,000 mark, while the Nifty 50 crossed the 24,000 level, supported by broad-based buying across sectors.
Key highlights from the session:
- Benchmark gains: Sensex closed at 76,991.22, up 790.54 points (1.04%), and Nifty settled at 24,021.65, gaining 0.83%.
- Top movers: Trent led gainers with nearly 4% rise, followed by ICICI Bank (up 2.29%) and HDFC Bank (up 1.30%). Tata Motors rebounded nearly 4%.
- Sector performance: Banking stocks dominated volumes, with ICICI Bank and HDFC Bank among the most traded. The Nifty IT weight fell to a record low below 7.6% amid AI concerns.
- Market breadth: MidCap and SmallCap indices lagged, while India VIX declined, signaling easing volatility.
- Global cues: Easing crude oil prices and mixed US Fed expectations improved sentiment. Japan’s Nikkei fell 0.88% on Fed rate fears.
- Corporate and other news: Rashi Peripherals to acquire 67% of VDA Infosolutions for ₹368 crore; EMA Partners India acquires Taggd for ₹95 crore; Amitabh Bachchan sold 0.79% stake in DP Wires; Adani Group announced nuclear energy entry targeting 10 GW by 2035.
- Currency and commodities: Rupee strengthened marginally to 94.6650/USD. Gold, crude oil, copper, and natural gas traded lower.
- Market closure: Indian exchanges will remain shut on June 26 for Muharram.
The recovery was driven by return of buying in heavyweight stocks, improved risk appetite, and positive domestic developments. Analysts noted that sustained support from large caps and stable global conditions remain crucial for maintaining momentum.