Closing Bell: Nifty at 25,100, Sensex up 256 pts; mid, smallcap rally

Indian benchmark indices extended gains on fourth day with Nifty at 25,100 on June 9. At close, the Sensex was up 256.22 points or 0.31 percent at 82,445.21, and the Nifty was up 100.15 points or 0.40 percent at 25,103.20.

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Following Friday’s strong close, Nifty opened with a gap-up but failed to witness any major follow-through. The index remained confined to a narrow 50-point range throughout the session, eventually ending with a 0.40% gain and marking its highest close for the calendar year, just above the 25100 mark.

Last week’s breakout from a month-long consolidation indicates a bullish continuation pattern. Despite a lackluster intraday movement and a small red body candle, Nifty posted gains for the fourth straight session. Technically, the structure remains positive, and the index appears poised to extend its up-move in near term.

Traders are advised to continue with a ‘buy on dips’ approach. Immediate support is placed near the psychological 25000 mark, while the bullish gap between 24940 – 24900, which aligns with the bullish breakout zone, is expected to act as strong support. On the upside, resistance is seen at the 78.6% retracement zone around 25250 – 25300 zone, beyond which 25430 would be the next hurdle.

While the benchmark index had a subdued day, the broader markets remained strong, with stock-specific action continuing to dominate. Post-RBI policy, the financial and PSU banking space remained in focus, and Midcap IT stocks also showed encouraging signs, indicating potential strength ahead.

Today, the benchmark indices witnessed range-bound activity. The Nifty ended 100 points higher, while the Sensex was up by 256 points. Among sectors, the Capital Market index was the top gainer, rallying over 2.35 percent, whereas intraday profit booking was seen in selective Defense and Reality stocks. Technically, after a gap-up open, the entire day saw range-bound activity. On daily charts, the index has formed a small candle, suggesting indecisiveness between the bulls and the bears.

We are of the view that 25,000/82000 would act as a sacrosanct support zone for trend-following traders. As long as the market is trading above this level, the uptrend is likely to continue. On the higher side, it could move up to 25,350-25,400/82800-83000. On the flip side, falling below 25,000/82000 would render the uptrend vulnerable.

Markets began the week on a positive note, gaining nearly half a percent, extending Friday’s rally. Following an initial gap-up start, the Nifty traded within a narrow range throughout the session and eventually settled at the 25,103.20 level. Most sectors moved in line with the benchmark and closed higher, with energy, IT, and financials among the top gainers. The broader indices continued to outperform, posting gains in the range of 1.1% to 1.5%.

The up move in the index was largely in line with expectations; however, mixed performance from heavyweights—particularly in the private banking space—limited the momentum.

We maintain our bullish outlook and recommend a focus on selective stock picking during any intermediate consolidation or dip. At the same time, participants should exercise caution, especially in the small- and mid-cap segments, which are currently buoyed by strong domestic flows and sentiment. Emphasis should remain on themes and stocks where the risk-to-reward ratio continues to be favorable.

Financial stocks extended their rally in Indian markets, driven by the RBI’s supportive aggressive policy of rate and CRRA cut. These actions have boosted investor confidence and are expected to enhance liquidity in the near to medium term, especially in midcaps. The positive U.S. jobs data and renewed optimism over U.S.-China trade talks lifted global sentiment. Domestically even large caps expressed renewed momentum led by FIIs inflows.

Despite a strong start, the Index was unable to capitalise on the positive momentum and remained range-bound throughout the day, ultimately closing the session at 25,103.20 with gains of 100.15 points. Except for the Realty sector, all other sectors ended the day in positive territory, with PSU Banks and Energy emerging as the top performers, followed by IT and Metal. The Broader markets extended their streak of outperformance, with both Mid and Smallcap indices advancing by over 1% each.

While the Index has finally broken out of its long consolidation phase, the breakout candle is not very encouraging and signaling a potential reversal.

Tomorrow’s trading activity will be crucial in determining whether the current trend will continue or reverse. The key resistance and support levels are currently placed at 25,220 and 25,000, respectively.

Indian rupee ended flat at 85.63 per dollar on Monday against Friday's previous close of 85.63.

Indian benchmark indices extended gains on fourth day with Nifty at 25,100 on June 9.

At close, the Sensex was up 256.22 points or 0.31 percent at 82,445.21, and the Nifty was up 100.15 points or 0.40 percent at 25,103.20. About 2667 shares advanced, 1374 shares declined, and 126 shares unchanged.

Except realty, all other sectoral indices ended in the green with IT, ol & gas, power, PSU Bank up 1 percent each.

BSE Midcap and smallcap indices added 1 percent each.

Bajaj Finance, Kotak Mahindra Bank, Axis Bank, Jio Financial, Trent were among major gainers on the Nifty, while losers were ICICI Bank, Titan Company, M&M, Adani Ports, Eternal.

Paul Parambi would cease to the Group Chief Risk Officer (GCRO) of the bank at the end of the day on June 11, 2025, in view of his

upcoming retirement. Mr. Parambi would continue as Group President – Risk and would cease to be a Senior Management Personnel (SMP) of the Bank upon his retirement on June 30, 2025.

The board of directors of the bank have, on June 9, 2025, appointed Ms. Srishti Sethi as the new GCRO and a SMP of the Bank, for a period of five years, with effect from June 12, 2025.

RailTel Corporation of India has received the work order from Department Of Education Samagra Shiksha for supply of UPS and Printers to 5507 GPS across Himachal Prdesh amounting to Rs 15,96,54,450 and received the work order from State Project Director (Spd) Bihar Education Project Council (Bepc) for supply of Students Kit for the students of Class 1 to Class 12 at Govt. Schools in

Bihar amounting to Rs 2,43,11,35,577.

The Sensex was up 236.59 points or 0.29 percent at 82,425.58, and the Nifty was up 94.55 points or 0.38 percent at 25,097.60. About 2482 shares advanced, 1210 shares declined, and 111 shares unchanged.

K V Pradeep resigns as chairman & managing director of the company w.e.f. June 09, 2025.

The Sensex was up 281.09 points or 0.34 percent at 82,470.08, and the Nifty was up 104.80 points or 0.42 percent at 25,107.85. About 2496 shares advanced, 1167 shares declined, and 107 shares unchanged.

Indian rupee is trading flat at 85.63 per dollar against Friday's previous close of 85.63.

US stock futures held firm on Monday as investors focused on talks between the US and China in London, looking for signs that tensions in the trade standoff between the two biggest economies are cooling.

The company received Letter of Acceptance (LOA) from the Superintending Engineer, Highways NABARD & Rural Roads Circle, Salem-7, for construction of a Road Over Bridge (ROB) at Km 0/6 of Thaneerpandal Road, replacing the existing Level Crossing No. 6 located between Singanallur and Peelamedu railway stations in Tamil Nadu.

The contract, awarded by a domestic government entity, carries a total value of approximately Rs 16.23 crore.

In May 2025, the company reported a 27.6% year-on-year increase in production, reaching 89,626 units. Sales grew by 16.6% to 80,458 units, while exports rose by 36.7% to 3,652 units, compared to the same month last year.

The Sensex was up 294.36 points or 0.36 percent at 82,483.35, and the Nifty was up 106.65 points or 0.43 percent at 25,109.70. About 2495 shares advanced, 1118 shares declined, and 129 shares unchanged.

The NBFC, which focuses on consumer and MSME lending, has launched Business Loan 24/7, an industry-first digital loan solution for micro, small, and medium enterprises (MSMEs). The offering provides instant approval with a risk-first approach and flexible repayment options.

The Multi Commodity Exchange of India Ltd. (MCX) has received regulatory approval to launch electricity derivatives, the exchange announced in a filing dated June 6.

With this move, MCX, India’s leading commodity derivatives exchange, aims to create a dynamic and sustainable power market. The introduction of electricity derivatives contracts will allow power generators, distribution companies, and large consumers to hedge against price volatility and manage price risks more effectively, thereby enhancing overall market efficiency, MCX said in the statement.

In the filing, Praveena Rai, MD & CEO, MCX noted that these contracts will offer participants a reliable, transparent, and regulated platform to manage power price risks, which are becoming more dynamic due to renewables and market-based reforms. She added that with India’s growing focus on renewable energy and open access power markets, electricity derivatives can serve as a vital bridge between the physical and financial sectors.

The company has signed Memorandums of Understanding (MoUs) in Sweden and Denmark to enhance its capabilities in the marine systems sector and to enter the expedition cruise segment.

It partnered with Berg Propulsion (Sweden) to strengthen its marine equipment portfolio and with SunStone (Denmark) for collaboration in expedition cruise vessel development.

The company informed that the operations at the company's Goa Unit located at St. Jose de Areal, Salcete-Goa has been temporarily shut down for maintenance work from today, 9th June 2025.

MTAR has received Rs 19.2 crore for various products in Clean Energy and Aerospace sectors. This includes orders worth Rs 17.8 crore in Clean Energy and Rs 1.4 crore in Aerospace.

Nearly Rs 4.7 crore of orders are for the development of new products in Clean Energy and successful execution of first articles is estimated to generate a recurring revenue of Rs 10 crore annually.

Netflix and Ekta Kapoor’s Balaji Telefilms Ltd. have entered into a long-term creative collaboration for a range of exciting projects across different formats of storytelling.

The NBFC, which focuses on consumer and MSME lending, has launched Business Loan 24/7, an industry-first digital loan solution for micro, small, and medium enterprises (MSMEs). The offering provides instant approval with a risk-first approach and flexible repayment options.

The Sensex was up 315.77 points or 0.38 percent at 82,504.76, and the Nifty was up 104.70 points or 0.42 percent at 25,107.75. About 2487 shares advanced, 1053 shares declined, and 151 shares unchanged.

In May 2025, the company reported a 27.6% year-on-year increase in production, reaching 89,626 units. Sales grew by 16.6% to 80,458 units, while exports rose by 36.7% to 3,652 units, compared to the same month last year.

The bank has reduced its Marginal Cost of Funds Based Lending Rate (MCLR) by 10 basis points (bps) across tenures, effective June 10. It has also lowered the TBLR, G-sec linked rate, and repo-linked rate, effective June 9.

The Sensex was up 407.42 points or 0.50 percent at 82,596.41, and the Nifty was up 134.55 points or 0.54 percent at 25,137.60. About 2481 shares advanced, 992 shares declined, and 142 shares unchanged.

JSW Steel reported consolidated Crude Steel production for the month of May’25 at 22.73 Lakh tonnes. The May month Consolidated Crude Steel production was higher by 8% YoY and the year-to-date growth in Crude Steel production was 13%.

Ericssonhas been awarded a multi-year NOC Managed Services (MS) contract by Bharti Airtel, further strengthening the long-standing partnership between the two companies.

Under this agreement, Ericsson will enable intent-based operations, powered by its centralized Network Operations Center (NOC), to manage Airtel services across 4G, 5G NSA, 5G SA, Fixed Wireless Access (FWA), Private Networks, and Network Slicing.

The Board of Directors has appointed Rajiv Pravin Thakker as the Chief Risk Officer of the company for a five-year term, effective June 6.

The company has completed the acquisition of a 60% stake in Saifco Cements from its shareholders and promoters, including a fresh issue by Saifco. Following this acquisition, Saifco has become a subsidiary of JK Cement with immediate effect.

The Competition Commission of India (CCI) is likely to soon pass an order to initiate a probe against Asian Paints, according to a report by CNBC-TV18 quoting sources. The investigation would be based on an antitrust complaint filed by Birla Opus Paints, a unit of Aditya Birla Group.

Tata Motors’ FY26 PV business outlook

#1 Demand growth expected to be muted

#2 Salience shift to SUVs to continue

#3 Competitive intensity to remain high

Tata Motors’ 2027 CV Outlook

#1 Capex will be 2-4% of revenue

#2 Free cash flow will be 7-9% of revenue

The Heavy Civil Infrastructure (HCI) business vertical of Larsen & Toubro has secured a significant order from JSW Energy for the execution of Bhavali Pumped Storage Project (PSP) in the state of Maharashtra.

The project is strategically located across the Nashik and Thane districts of Maharashtra and is designed to have a total installed capacity of 1500 MW, Comprising various small units.

The scope of work encompasses complete execution of all civil works related to the project, including construction of approach roads, upper and lower reservoirs, water conductor system, pressure tunnels, and the underground powerhouse unit.

Global seed company Advanta Brazil, part of the UPL Group, has announced that its Brazilian associate company, Serra Bonita Sementes S.A., has entered into an agreement to sell all its assets for $125 million. Advanta holds a 33% stake in Serra Bonita.

The Multi Commodity Exchange of India Ltd. (MCX) has received regulatory approval to launch electricity derivatives, the exchange announced in a filing dated June 6.

With this move, MCX, India’s leading commodity derivatives exchange, aims to create a dynamic and sustainable power market. The introduction of electricity derivatives contracts will allow power generators, distribution companies, and large consumers to hedge against price volatility and manage price risks more effectively, thereby enhancing overall market efficiency, MCX said in the statement.

In the filing, Praveena Rai, MD & CEO, MCX noted that these contracts will offer participants a reliable, transparent, and regulated platform to manage power price risks, which are becoming more dynamic due to renewables and market-based reforms. She added that with India’s growing focus on renewable energy and open access power markets, electricity derivatives can serve as a vital bridge between the physical and financial sectors.

The share price rises to highest level in 11 weeks.

BEL has signed a Memorandum of Understanding (MoU) with Tata Electronics to explore opportunities in indigenous electronics and semiconductor development.

The collaboration will focus on semiconductor fabrication (Fab), outsourced semiconductor assembly and test (OSAT), and design services.

The solutions will cater to BEL’s requirements for microcontrollers (MCUs), systems-on-chip (SoCs), and monolithic microwave integrated circuits (MMICs).

The Sensex was up 333.21 points or 0.44 percent at 82,539.32, and the Nifty was up 106.7 points or 0.43 percent at 25,109.75.

The company has received a road construction work order worth Rs 546 crore from GHV India. The project involves the strengthening and improvement of various roads in Mumbai.

The share price rises most in 11 weeks.

The global IT services company has received a communication from the Director General of GST Intelligence (DGGI) stating that the pre-show cause GST notice proceedings against the company, related to a tax demand of Rs 32,403 crore, have been closed.

The closure pertains to the financial years 2018–19 to 2021–22.

Infosys had earlier received and responded to a pre-show cause notice for the period July 2017 to March 2022, regarding non-payment of IGST under the Reverse Charge Mechanism.

Kalpataru Projects International along with its international subsidiaries have secured new orders / notification of awards of approximatley Rs 3,789 crore.

There were 7.8 percent equity of the company change hands in a block.

Aditya Birla Group’s Indian paints venture has filed an antitrust complaint against market leader Asian Paints for allegedly abusing its market position, three sources said, a case that could lead to a stand off between the two industry rivals.

Asian Paints is India’s biggest player with a 52% market share, but it has lost some of its dominance after Birla Opus launched in February 2024 and grew rapidly to garner a near 7% market share by March this year, Elara Capital data shows.

The Competition Commission of India (CCI) has in recent weeks been reviewing a confidential complaint filed by Birla Opus alleging abuse of its position by Asian Paints, said the two sources, who declined to be named as the discussions are private.

The CCI is yet to decide if the complaint holds merit and needs a broader probe by its investigations unit, or should be dismissed.