GIFT Nifty closed at 23,685 on June 12, surging 282.5 points or 1.21% from its previous close of 23,402.5, tracking a robust session in the Indian cash market where banking and financial services stocks powered a broad-based rally. The Nifty 50 index closed at 23,335.60, gaining 174 points, while the Sensex advanced 705.15 points to settle at 74,537.70.
Banking Stocks Drive Indian Market Rally
Nifty Bank emerged as the session's standout performer, surging 748.85 points to close at 55,925.60, providing the primary thrust behind the benchmark indices' strong finish. Financial services stocks extended gains, with the Nifty Financial Services index adding to the momentum despite a modest decline of 54.25 points to 25,152 over the broader period tracked.
The rally was broad-based across key large-caps, though the technology sector diverged sharply. Nifty IT declined 109.20 points to settle at 27,711.80, acting as the primary drag on the headline index. Nifty Mid Select shed 124.70 points to close at 13,866.55, while Nifty Next 50 fell 775.95 points to 68,378.75, indicating selectivity in the market's advance.
Top Movers and Sectoral Action
Among individual stocks, decliners included Hindustan Unilever (closed at ₹2,110.10) and Adani Ports (settled at ₹1,805.00). Gainers were led by Hindustan Zinc (₹558.75), Titan Company (₹4,123.90), The Indian Hotels Company (₹670.90), and Pidilite Industries (₹1,533.50), though percentage changes were not disclosed in available data.
| Index | Close | Change (Points) |
|---|---|---|
| Nifty 50 | 23,335.60 | +174.00 |
| Sensex | 74,537.70 | +705.15 |
| Nifty Bank | 55,925.60 | +748.85 |
| Nifty IT | 27,711.80 | -109.20 |
GIFT Nifty Session Snapshot
GIFT Nifty opened the session at 23,396.5 and carved out an intraday range between 23,304.5 and 23,711.5, with the contract hitting its high during the post-3:30 pm IST session. The offshore derivative tracked the cash market's banking-led momentum through the day, rallying sharply in the final 90 minutes of trade as Session II activity intensified. The contract gained over 300 points from its session low, mirroring the strength in domestic financials.
| Metric | Level |
|---|---|
| Last Traded Price | 23,685.0 |
| Open | 23,396.5 |
| High | 23,711.5 |
| Low | 23,304.5 |
| Change | +282.5 (+1.21%) |
GIFT Nifty heads into the weekend session with strong momentum, having recovered decisively from early weakness and settled near session highs as institutional interest in banking counters sustained the rally into the close.