Share Market Today: Nifty, Sensex Edge Higher For 5th Straight Day
Sensex rose 254 points and Nifty closed at 24,168 on June 18, locking in a 5-day winning streak. Falling Brent crude ($77) and strong banking stocks offset a hawkish US Fed stance. Read the full market analysis here.
Indian Stock Market Today | Indian equity benchmark indices extended their winning streak for a fifth consecutive session on Thursday (June 18), with the Nifty 50 comfortably settling above the 24,150 mark.
Domestic investor sentiment received a dual boost from improving global cues and an ongoing slide in international crude oil prices.
This structural support helped the market look right past a hawkish policy pivot from the US Federal Reserve overnight, keeping Dalal Street firmly in positive territory.
At the Closing Bell:
- BSE Sensex: Jumped 254.36 points to close at 77,409.98
- Nifty 50: Rose 82.30 points to settle at 24,168.00
- Nifty Bank: Climbed 378.75 points to finish at 57,963.80
Why Did the Indian Stock Market Go Up Today?
The major triggers driving today's market rally include:
1. Brent Crude Falls 2%
International crude prices plunged 2% on Thursday, hitting their lowest level since the opening days of the Middle East conflict. Brent crude futures slumped to $77.96/ barrel, while West Texas Intermediate (WTI) fell to $74.96.
For India, sub-$80 crude provides an invaluable macroeconomic buffer—lowering corporate raw material costs, improving the trade balance and mitigating imported inflation pressures.
2. Firm Market Breadth
The broader market stayed highly resilient, moving in tandem with headline indices as both the Nifty Midcap 100 and Nifty Smallcap 100 advanced 0.4%.
Sectorally, banking was the undisputed anchor of the day. Nifty Bank outperformed significantly, with 11 of its 14 underlying stocks closing in the green.
3. Rupee Solidifies Gains
The Indian Rupee (INR) continued its steady appreciation path, gaining fresh ground to close the session at 94.33/$, compared to Wednesday's finish of 94.53/$.
The rupee's ongoing stability and resilience against the greenback are widely seen as key catalysts to help draw foreign portfolio investors (FPIs) back into Indian equities.
4. New Fed Chair Kevin Warsh's Hawkish Policy
Global and domestic desks spent the session parsing the outcome of Wednesday night's highly anticipated US Federal Reserve meeting—the first under newly appointed Chair Kevin Warsh.
While the Fed kept the benchmark interest rate unchanged at 3.50% to 3.75%, the tone turned distinctly hawkish.
Policymakers aggressively raised their 2026 inflation forecasts and projected a potential rate hike before the end of the year.
Indian equities comfortably absorbed this shift, primarily because falling oil prices and a stronger rupee insulated local margins from the Fed's tightening bias.
Nifty Today & Major Indices Overview
Top Trending Stocks Today
- Bata India: Stock surged over 16% after the appointment of Sanjay Rao, former Nike retail head, as the company’s new Managing Director and Chief Executive Officer.
- Kirloskar Ferrous: Stock jumped over 6% after the company secured an export order worth approximately $13.51 million for the supply of pig iron.
- HFCL: Stock rose 5% after the company bagged a ₹2,666.09 crore BharatNet Phase-III contract from RVNL.
Technical Analysis: Nifty & Bank Nifty Levels
NIFTY 50: Opened 11.90 points lower at 24,073.80, reached a high of 24,189.25 and closed at 24,168.
The index formed a bullish candle on the daily timeframe.
- Immediate Support: 24,100
- Immediate Resistance: 24,250
BANK NIFTY: Opened 11.40 points higher at 57,596.45, reached a high of 58,021.25 and closed at 57,963.80.
The index formed a sizeable bullish candle, indicating strong buying interest and sustained momentum.
- Immediate Support: 57,700
- Immediate Resistance: 58,100
World Markets, Crude & Gold Prices
- Global Equities: Asian and European markets traded mixed on Thursday, as hawkish Federal Reserve commentary weighed on investor sentiment despite softer crude oil prices.
- Crude Oil: Oil prices fell ~2% on Thursday, hitting their lowest level since the first trading day of the Iran war, with Brent crude futures slipping to $77.96/barrel.
- Gold Prices: The yellow metal edged higher, as support from lower oil prices offset pressure from a stronger dollar and hawkish Federal Reserve signals.
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