The benchmark indices ended marginally higher on Thursday, extending gains for a second straight session. The Nifty climbed to a more than one-month high of 24,261.60 around noon, supported by easing crude oil prices and buying in auto and FMCG stocks. However, profit booking in the second half erased most of the intraday gains, while weakness in metal, IT, oil & gas and energy stocks capped the upside. The Nifty still managed to close above the 24,000 mark. Broader markets underperformed, with the midcap and smallcap indices ending in the red.

The S&P BSE Sensex added 109.25 points or 0.14% to 77,100.47. The Nifty 50 index rose 34.35 points or 0.14% to 24,056. In the two trading sessions, the Sensex and Nifty increased 1.18% and 0.97%, respectively.

Mahindra & Mahindra (up 3.94%), Maruti Suzuki India (up 3.81%) and ICICI Bank (up 0.98%) supported the indices.

The broader market underperformed frontline indices. The BSE 150 MidCap Index declined 0.44% and the BSE 250 SmallCap Index fell 0.51%.

The market breadth was weak. On the BSE, 1,641 shares rose and 2,581 shares fell. A total of 192 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.50% to 13.05.

Indian stock markets will remain closed on Friday, June 26, on account of Muharram. Trading on the NSE and BSE will resume on Monday, June 29.

Numbers to Track:

The yield on India's 10-year benchmark federal paper declined 0.07% to 6.782 compared with previous session close of 6.787.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 94.4000 compared with its close of 94.5500 during the previous trading session.

MCX Gold futures for 05 August 2026 settlement advanced 0.24% to Rs 144,612.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.05% to 101.56.

The United States 10-year bond yield rose 0.16% to 4.407.

In the commodities market, Brent crude for July 2026 settlement declined 99 cents or 1.34% to $72.75 a barrel as stranded tankers exited ⁠the Strait of Hormuz following an initial accord to end the U.S.-Israeli war with Iran, easing supply concerns.

Global Market:

US stock futures pointed to a positive start for Wall Street on Thursday, with Dow Jones futures up 120 points.

European stocks traded higher, led by technology shares, after upbeat forecasts from Micron Technology and Qualcomm eased concerns over lofty valuations in the AI sector. Lower oil prices also supported market sentiment.

Most Asian market ended higher as strong earnings and optimistic outlooks from Micron and Qualcomm boosted confidence in AI-related stocks. Technology-heavy markets in Japan and South Korea led the gains.

Micron said customers had committed $22 billion for its memory chips, while Qualcomm projected its data centre business could generate $15 billion in annual revenue by 2029.

Recent concerns that AI-related stocks had become overvalued had triggered volatile trading. However, the latest updates from the two chipmakers helped restore investor confidence.

Meanwhile, easing oil prices could help reduce inflationary pressures. However, prices remain elevated enough to keep expectations of at least one US Federal Reserve rate hike this year intact.

Overnight, Wall Street ended mixed ahead of Micron's quarterly earnings. The Nasdaq Composite fell 0.43% to 25,476.64 and the S&P 500 slipped 0.10% to 7,358.22, while the Dow Jones Industrial Average gained 182.06 points, or 0.35%, to close at 51,848.90.

Stocks in Spotlight:

Shares of gold financing companies dropped on Thursday as a sharp decline in gold prices hurt investor sentiment. IIFL Finance dropped 3.06%, while Muthoot Finance fell 3.39%. Manappuram Finance ended up 0.11% after an early decline.

Shares of airline operators rallied on Thursday after international crude oil prices extended their decline, raising hopes of lower fuel costs and improved profitability for the aviation sector. SpiceJet climbed 2.69%, while InterGlobe Aviation, the parent of IndiGo, advanced 4.89%.

Sterlite Technologies hit an upper circuit of 5% to Rs 613.35 after the company announced the launch of its qualified institutional placement (QIP) issue and fixed the floor price at Rs 613.69 per equity share.

Standard Engineering Technology (SETL) slumped 5.86%. The company's board approved the acquisition of up to a 51% stake in GScale Energy, marking its strategic entry into AI datacenter engineering.

Electrosteel Castings fell 1.65%. The company announced the resumption of its Mini Blast Furnace (MBF) Production Facility at the Khardah Works, West Bengal, from 24th June 2026.

RailTel Corporation of India fell 1.35%. The company has received a letter of acceptance (LoA) worth Rs 29.83 crore from Southern Power Distribution Company Of A P for the implementation of a Software Defined-Wide Area Network (SD-WAN) solution.

Initial Public Offer (IPO):

Waterways Leisure Tourism received bids for 60,47,118 shares as against 41,84,004 shares on offer, according to stock exchange data at 16:15 IST on 25 June 2026. The issue was subscribed 1.45 times.

The issue opened for bidding on 23 June 2026 and it will close on 25 June 2026. The price band of the IPO is fixed between Rs 769 and 808 per share. An investor can bid for a minimum of 18 equity shares and multiples thereof.

Advit Jewels received bids for 1,76,98,64,200 shares as against 83,79,300 shares on offer, according to stock exchange data at 16:15 IST on 25 June 2026. The issue was subscribed 211.22 times.

The issue opened for bidding on 23 June 2026 and it will close on 25 June 2026. The price band of the IPO is fixed between Rs 130 and 138 per share. An investor can bid for a minimum of 100 equity shares and multiples thereof.

CSM Technologies received bids for 67,83,612 shares as against 1,11,30,880 shares on offer, according to stock exchange data at 16:15 IST on 25 June 2026. The issue was subscribed 0.61 times.

The issue opened for bidding on 24 June 2026 and it will close on 29 June 2026. The price band of the IPO is fixed between Rs 107 and 113 per share. An investor can bid for a minimum of 132 equity shares and multiples thereof.

Powered by Capital Market - Live News