Mumbai, Oct 23 (ANI): A view of the newly renovated atrium, the iconic NSE Bull, and the refreshed façade of the National Stock Exchange (NSE) Bull, at the National Stock Exchange headquarters, in Mumbai on Tuesday. (ANI Photo)
Mumbai, June 16 (ANI): Indian equity markets extended gains for a third consecutive session, with the Sensex surging more than 500 points and the Nifty inching toward the 24,000 mark. Nifty Realty, IT and Media emerged as the strongest gainers during Tuesday’s session.
However, metals, healthcare, cement and pharma stocks remained weak, limiting broader momentum as market leadership shifted toward technology and domestic-focused sectors. Broader markets were mixed, with small-cap stocks gaining while mid-caps slipped.
Metals were the biggest drag, falling more than 2 percent amid profit booking and a sharp decline in aluminum prices.
The Nifty closed at 23,989.15, up 135.25 points, or 0.57 percent, while the Sensex settled at 76,808.48, gaining 544.15 points, or 0.71 percent.
HCL Tech, Bajaj Finserv, NTPC, Hindustan Unilever, TCS, Bajaj Finance, Reliance Industries, Tech Mahindra and ITC were among the top gainers on the BSE. Meanwhile, Maruti Suzuki, Tata Steel, Sun Pharma, Power Grid and Trent were among the biggest losers.
Gold was trading at around USD 4,345.03 at the time of writing, while the rupee was trading at approximately 94.56 against the U.S. dollar.
Abhishek Kumar, SEBI-registered investment adviser and founder of SahajMoney, said, “Indian equity markets continued their gains in Tuesday’s session, with the Sensex up 544 points at 76,808 and the Nifty 50 up about 133 points at 23,987, extending Monday’s rally based on the US-Iran deal in a more measured manner.”
Noting that “realty, FMCG and IT extended their gains while metals slipped due to profit booking,” Kumar added that sentiment remains positive but cautious as traders await finer details of the ceasefire ahead of the June 19 signing.
Market analyst Vipin Dixena said, “Indian markets are showing resilient momentum today. Nifty stabilizing near 24,000 reflects healthy consolidation. The broader market strength is particularly noteworthy, with mid-cap and small-cap indices gaining more than 1 percent each, indicating genuine retail and institutional participation rather than just index-heavy momentum.”
He added that geopolitical stability stemming from the U.S.-Iran peace agreement and the reopening of the Strait of Hormuz are positive developments that could sustain risk appetite in the near term.
Maintaining a bullish outlook, Dixena said that as long as the critical 23,800 support level holds, a decisive breakout above 24,000 could push the benchmark toward 24,500. (ANI)
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