The Nifty 50 closed at 24,147.55 on June 22, ending the session within striking distance of its record high as the benchmark index extended its winning streak. The BSE Sensex surged over 1,000 points to settle at 77,273.93, with both indices posting solid gains in a broadly positive session.
Market breadth favoured buyers as momentum stocks led the charge. NOCIL, EPack Durables, and Spacenet Enterprises rallied up to 13% on strong momentum, while sectors showed mixed performance. Banking stocks gained 0.33% for the session, though the Nifty Bank index trailed the broader market with a 6.92% monthly advance. The Nifty 500 rose 0.46%, underperforming the headline index.
Financial services stocks came under pressure, with the Nifty Financial Services index declining 150.80 points. Sectoral divergence was evident as some heavyweight counters struggled to keep pace with the overall market momentum. The session's intraday range for Nifty 50 spanned 24,073.15 to 24,162.40, with the index opening at 24,106.60 and holding above the 24,000 mark throughout the day.
Among individual movers, gainers included GAIL (India) at ₹178.04, Tech Mahindra at ₹1,440.20, Reliance Industries at ₹1,337.50, United Spirits at ₹1,345.50, and Cipla at ₹1,385.40. Derivatives market activity reflected the positive undertone, with Inox Wind, PB Fintech (up ₹48.30 to ₹1,682.80), Coforge (up ₹31.80 to ₹1,494.60), and Delhivery among the active counters.
Technical indicators pointed to sustained momentum, with the Nifty holding comfortably above 23,900 and the RSI registering a bullish 58. The index maintained support at the 23,800 level while testing resistance near 24,300. Volume for the session reached 176,126,830 shares on NSE, with traded value totaling ₹40,190.94 crore.
| Index | Close | Change (Points) | Change (%) |
|---|---|---|---|
| Nifty 50 | 24,147.55 | — | 0.57% |
| BSE Sensex | 77,273.93 | +1,000+ | — |
| Nifty Bank | 57,685.75 | -278.05 | 0.33% |
| Nifty Fin Service | 26,431.15 | -150.80 | — |
GIFT NIFTY tracked the domestic market's advance, settling at 24,104.50, up 56.0 points or 0.23% from the previous close of 24,048.50. The contract opened at 24,044.00 and climbed to an intraday high of 24,183.50 in early trade, before paring gains through the afternoon session.
The derivatives contract rallied sharply in the first hour, pushing above 24,180 by 9:20 AM SGT, then consolidated in a 24,110-24,170 range through the Indian market hours. GIFT NIFTY dipped below 24,100 late in Session I, touching a low of 24,094.00 in the final minutes before recovering modestly.
| Metric | Level |
|---|---|
| Open | 24,044.00 |
| High | 24,183.50 |
| Low | 24,044.00 |
| LTP | 24,104.50 |
| Change | +56.0 (+0.23%) |
GIFT NIFTY enters Session II at 24,104.50, lagging the cash market close by approximately 43 points as traders assess the path to Nifty's record high of 26,373.20 set earlier in the year.