Share Market Today: Sensex Rallies 791 Points, Nifty Ends Above 24,000
Sensex jumped 790 points and Nifty closed at 24,021 on June 24. Markets rallied on a massive crash in crude to below $76 and high-stakes buzz around an upcoming India-US bilateral trade deal. Read the full market analysis here.
Indian Stock Market Today | The Indian equity benchmark indices staged a strong comeback on Wednesday (June 24), recovering sharply from the previous session's sell-off as buying emerged across Banking, Financials, IT and select heavyweight stocks.
The market opened on a flat note and gathered momentum through the session, supported by easing crude oil prices, positive global cues, RBI's growth-supportive stance and renewed investor confidence.
At the Closing Bell:
• BSE Sensex: Surged 791 points to close at 76,991 (+1.04%)
• Nifty 50: Jumped 198 points to settle at 24,022 (+0.83%)
• Nifty Bank: Rallied 967 points to finish at 58,150 (+1.69%)
Why Did the Indian Stock Market Rise Today?
The primary catalysts driving today’s market rebound include:
- Lower Crude Oil Prices
Indian equities recovered sharply as Brent crude slipped below the $76/barrel, easing macro concerns for India, which is a major crude importer.
The fall in oil prices helped improve investor sentiment, as lower crude reduces pressure on inflation, current account deficit, and input costs for several sectors.
- Strong Buying in IT, Realty & Banking Stocks
The rally was led by strong buying in heavyweight sectors such as IT, realty and private banks.
Nifty IT and Nifty Realty gained around 2% each, while the Private Bank index advanced nearly 1.8%, giving strong support to the frontline indices.
- FII Buying & Positive Global Cues
Market sentiment also improved after Foreign Institutional Investors turned buyers, adding support to the rebound after the previous session’s sharp fall.
Firm Asian market cues further boosted confidence, helping domestic benchmarks recover from earlier pressure.
- Broader Markets Also Participate
Broader markets participated in the recovery, though they underperformed the frontline indices.
The Nifty Midcap index gained around 0.1%, while the Nifty Smallcap index rose nearly 0.4%, indicating selective buying across the broader market space.
Nifty Today & Major Indices Overview
Technical Analysis: Nifty & Bank Nifty Levels
NIFTY 50: Opened 28.30 points lower at 23,795.80, reached a high of 24,090.05 and closed at 24,021.65.
- Immediate Support: 23,950
- Immediate Resistance: 24,100
BANK NIFTY: Opened 108.85 points lower at 57,074.90, reached a high of 58,256.35 and closed at 58,150.35.
- Immediate Support: 58,000
- Immediate Resistance: 58,400
World Markets, Crude & Gold Prices
- Asian Equities: Ended mixed, with South Korea’s Kospi rebounding sharply, while Japan’s Nikkei and Taiwan slipped; Hong Kong traded higher.
- European Equities: Were largely flat, with the STOXX 600 rising marginally by ~0.02% as investors tracked U.S.–Iran developments and sector-specific cues.
- Crude Oil: Brent crude fell more than 1% on Wednesday, slipping to its lowest level in nearly four months and hovering around $75.8 per barrel.
- Gold Prices: The yellow metal declined for a second consecutive session on Wednesday, with the yellow metal slipping to $4,071.28 per ounce.
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