Indian stock markets closed significantly higher on Wednesday, with the Sensex gaining 791 points and the Nifty surpassing the 24,000 mark, bolstered by continued support from domestic institutional investors. DIIs invested ₹3,637 crore, effectively countering foreign selling of ₹1,843 crore. Conversely, the currency market witnessed the rupee softening to 94.90 against the US dollar as the greenback gained strength globally.
Sensex rises 791 points, Nifty breaches 24,000: 3 factors behind today’s market rally
On Wednesday (June 24), the benchmark indices saw substantial gains, with the BSE Sensex climbing 791 points to 76,991 and the Nifty up 198 points to 24,022, closing close to the day’s peak.
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Also read: Rupee declines to 94.90 as dollar index reaches one-year high
Domestic investors buffer against FII sell-offs amid robust market rally on June 24
Domestic institutional investors (DIIs) played a crucial role in supporting Indian markets on Wednesday, acting as net buyers while foreign institutional investors (FIIs) emerged as net sellers.
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Can Nifty sustain above 24,000?
The focus now shifts to Thursday’s session. After a strong recovery from Tuesday’s downturn, the Nifty faces a significant challenge near the 24,200 level. Investors will closely monitor a busy roster of corporate updates, with stocks such as Bharti Airtel, Reliance Industries, HCLTech, IRFC, and Bharat Forge expected to be in the spotlight.
Stocks to Watch for June 25: Bharti Airtel, IRFC, RIL, HCL Tech, and more
IRFC, HCLTech, Reliance Industries, Bharat Forge, and other companies will be essential for investors on Thursday, June 25, following various corporate announcements and strategic movements.
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Nifty Outlook for June 25: Recovery rally highlights 24,200 barrier
After experiencing a sharp drop in the prior session, the Nifty bounced back on Wednesday, increasing by 197 points to finish at 24,021.
Gold in India falls to ₹1.46 lakh per 10 grams; silver below ₹2.33 lakh per kg MCX gold and silver futures faced pressure on Wednesday (June 24), responding to weak global signals amid a stronger US dollar and increasing expectations that the US Federal Reserve may maintain elevated interest rates for an extended period.
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Also read:
Gold and silver extend declines as strong dollar weighs on bullion
India-US trade agreement: Reasons for expert caution
As India and the US hurry to finalize an interim trade agreement before the White House’s tariff deadline, experts caution that New Delhi should prioritize a balanced and enduring deal over a hasty arrangement.
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Strait of Hormuz, HDFC Bank and Telegram lead today’s discussions
Outside of Dalal Street, issues like geopolitics, banking succession, and technology regulation remained prominent. Comments from Donald Trump regarding the Strait of Hormuz alleviated fears of potential disruptions in global shipping routes, while HDFC Bank’s search for a new chairman is nearing completion. Concurrently, Telegram has come under renewed scrutiny after a government report labeled the platform as “the new dark web,” and Amazon announced ambitious plans to extend its quick-commerce presence throughout India.
Trump states Iran has informed US no fees being demanded at Strait of Hormuz
U.S. President Donald Trump reported on Wednesday that Iran has indicated to the United States that no fees are being requested from vessels passing through the Strait of Hormuz.
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HDFC Bank chairman selection narrows to three candidates as board approaches decision
HDFC Bank’s prolonged leadership succession process appears to be entering its concluding phase, with the board expected to finalize its recommendation for a new non-executive chairman by the end of June, according to sources close to the situation.
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Telegram, the new dark web claims home ministry in investigation report
The messaging service Telegram has returned following a temporary ban related to the NEET examination controversy, but a government report has categorized the platform as “the new dark web,” citing its suspected use for various illegal activities.
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Amazon expands Amazon Now, plans ‘Delivery in Minutes’ service to over 300 cities across India
The e-commerce giant Amazon announced on Wednesday (June 24) its plans to broaden its Amazon Now ultra-fast delivery service to customers in more than 300 cities across India as it seeks to establish the largest delivery-in-minutes network in the country.
Read moreThis concludes today’s updates. As investors navigate a blend of domestic optimism and global uncertainty, the next market-moving news is always on the horizon. We’ll return tomorrow with further insights.
