POST-MARKET SUMMARY 24th June 2025
On June 24, Indian equity indices experienced a volatile trading session. The markets initially opened with a gap up, buoyed by strong global sentiment. However, selling pressure at higher levels quickly took hold. Early gains, spurred by the ceasefire announcement and a sharp drop in crude oil prices, were short-lived as renewed geopolitical tensions in the Middle East dampened investor sentiment. Despite this, the markets managed to close in the green.
Among sectors, PSU Bank and Metal led the gains with over 1% rise, followed by Auto, which added 0.6%. On the flip side, Media, Defence, Oil & Gas stocks came under pressure.
NIFTY: The index opened 208 points higher at 25,179 and made a high of 25,317 before closing at 25,044. Nifty has formed a bearish candle on the daily chart. Its immediate resistance level is now placed at 25,160 while immediate support is at 24,950.
BANK NIFTY: The index opened 470 points higher at 56,529 and closed at 56,461. Bank Nifty has formed a small bearish candle on the daily chart. Its major resistance level is now placed around 56,800 while major support is around 56,050.
Stocks in Spotlight
▪ Adani Ports: Stock jumped nearly 5% intraday after the US brokered a ceasefire between Israel and Iran. The stock had previously faced pressure due to safety concerns surrounding its Haifa Port operations amid escalating regional tensions and missile strikes.
▪ Enviro Infra Engineers: Stock jumped over 11% after the company secured new projects worth Rs 306 crore and entered the renewable energy space with a 69 MW solar acquisition.
▪ SBI Cards: Stock rose over 2% after the company reported a jump in its spend market share to 17.1% in May from 16% in April, with monthly spending up 10.1%, outperforming the industry’s 3% growth.
Global News
▪ Asian and European shares surged on Tuesday, boosted by improved investor sentiment following U.S. President Donald Trump's announcement of a ceasefire between Iran and Israel after 12 days of conflict.
▪ Oil prices extended their losses, reaching a two-week low as the market priced in a reduced risk of supply disruptions in the Middle East.
▪ Gold dropped more than 1%, hitting a two-week low, as the ceasefire announcement diminished the safe-haven appeal of bullion.
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