Closing Bell: Nifty around 25,150, Sensex up 124 pts; PSU Banks drag, IT shine

In the volatile session, the Indian equity indices ended on a positive note with Nifty around 25,150 on June 11. At close, the Sensex was up 123.42 points or 0.15 percent at 82,515.14, and the Nifty was up 37.15 points or 0.15 percent at 25,141.40.

We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

The Nifty remained volatile throughout the day before closing flat. However, the overall sentiment remains positive as the index continues to hold above the breakout point. Additionally, a golden crossover is in place, which supports the bullish outlook. Any dip should be viewed as a buying opportunity.

Crucial support is placed at 24,850. As long as the index holds above this level, the trend is likely to remain positive, with potential to move towards 25,350 in the short term

Today, the Indian stock market closed on a largely sideways note with the Nifty 50 hovering around 25,150 and the Sensex up by 124 points to close near 82,500 levels. The market exhibited volatility but lacked strong directional momentum, resulting in a consolidation phase. Key sectors showed mixed performance: the IT sector shone with a gain of about 1.26%, led by heavyweights like HCL Tech, Infosys, and Tech Mahindra, while PSU banks dragged the indices lower.

The market was also influenced by sector-specific developments such as a sharp excise duty hike on liquor in Maharashtra, which pressured liquor stocks, while local Maharashtra-made liquor brands saw gains. Additionally, BSE stock fell 4% after being placed under additional surveillance measures due to speculative trading concerns.

The sideways closing was primarily due to investors awaiting clarity on the US-China trade talks, where a preliminary deal was announced but details remain to be fully digested. This uncertainty led to cautious trading.

Profit booking continues in the broader markets, driven by elevated domestic valuations. However, large-cap resilience is supporting the indices, with institutional investors favouring companies with stable earnings outlooks. The Auto and IT sectors remain in focus—Auto stocks are gaining on improved monthly sales, while IT are benefiting from optimism around a potential US-China trade resolution.

Meanwhile, following the recent rally, the market lacks clear direction as investors await key macroeconomic data and updates on trade negotiations. US inflation data, due later today, is expected to show a slight uptick, driven by recent tariff increases.

Amidst a softer dollar and a weaker imported commodity prices, the Indian rupee posted the strongest gains among its Asian counterparts. Expectations of increased dollar inflows, coupled with a resilient domestic equity markets and strong bond performance, further bolstered the local currency.

Looking at the short-term level, the spot USDINR is expected to find support around 85.40, with resistance at 85.90.

The markets witnessed an inverted V-shaped movement, as after a muted start, the Index had surged higher, led by strength in IT stocks. However, overbought conditions in the Midcap and Smallcap segments triggered a sharp decline across the board; but the Index recovered from the lower levels and eventually settled the trade higher at 25,141.40 with gains of 37.15 points. Apart from IT, Pharma and Energy sectors outperformed, while PSU Banks and FMCG lagged. After consecutive days of rally, Mid and Smallcaps ended in the negative territory and underperformed the Benchmark Index.

The formation of a DOJI candlestick pattern indicates indecisiveness between bullish and bearish sentiment.

A strong move above the 25,200 will push the Index higher towards 25,500, whereas a sustained decline below 25,000 might pull it down to 24,870. The key resistance and support levels to watch are 25,200 and 25,000, respectively.

Indian rupee ended higher at 85.51 per dollar on Wednesday versus Tuesday's close of 85.62.

In the volatile session, the Indian equity indices ended on a positive note with Nifty around 25,150 on June 11.

At close, the Sensex was up 123.42 points or 0.15 percent at 82,515.14, and the Nifty was up 37.15 points or 0.15 percent at 25,141.40. About 2173 shares advanced, 1730 shares declined, and 120 shares unchanged.

HCL Technologies, Infosys, Wipro, Tech Mahindra, ONGC were among major gainers on the Nifty, while losers included Shriram Finance, Power Grid Corp, Adani Enterprises, Adani Ports and Bharat Electronics.

On the sectoral front, FMCG, Power, PSU Bank down 0.5-1 percent, while Oil & Gas, Pharma, IT up 0.5-1.2 percent.

The BSE midcap and smallcap index ended on flat note.

HCLTech announced an expansion of its partnership with Standard Insurance Company, a leading provider of financial protection products and services for employers and individuals.

This expanded partnership with The Standard will deliver AI-driven infrastructure and application services to boost efficiency, support rapid growth and enhance customer experience.

This collaboration will also accelerate The Standard’s shift to an IT products and services-based operating model, enabling greater agility, customer value and progress toward the company’s long-term digital transformation goals.

#1 Sees initial signs of a prolonged demand-supply mismatch emerging in India

#2 Domestic metro-to-metro traffic declined YoY for the third consecutive month in April

#3 India continues to add & scale up new routes & airports

#4 IndiGo’s key peer is leasing all available aircraft globally after China-bound supply ends

The Board has approved the appointment of Vishal Thakkar as Interim Chief Financial Officer of the company, effective June 12, until the appointment of a permanent Chief Financial Officer. Additionally, Rohit Talwar has resigned from the position of Vice President & Head – Marketing, effective August 8, to pursue opportunities outside the company.

The Sensex was up 164.11 points or 0.20 percent at 82,555.83, and the Nifty was up 48.55 points or 0.19 percent at 25,152.80. About 1976 shares advanced, 1576 shares declined, and 100 shares unchanged.

The Securities and Exchange Board of India has granted certificate of registration to Jio BlackRock Investment Advisers to act as an Investment Adviser.

Star Cement is not availing any subsidy or benefit under any scheme of West Bengal Government and does not have any receivables or outstanding dues pertaining to it’s projects in West Bengal.

Accordingly, the revocation of the incentive schemes by the West Bengal Government has no financial or operational impact on the Company.

The company is set to raise up to Rs 600 crore through the issuance of non-convertible debentures (NCDs - Series D33) on a private placement basis.

#1 Second-largest steel wire & largest stainless-steel wire company

#2 Embarked on a 62 percent capacity expansion plan

#3 Expect revenue/EBITDA/PAT CAGR of 31 percent/35 percent/38 percent in FY25–27

The company has secured an order to supply approximately 75 lakh pieces per year, aggregating to around USD 3.73 million per year, to the U.S.-based company, Allison Transmission.

Bank of Baroda revised Marginal Cost of Funds Based Lending Rate (MCLR) w.e.f. 12th June 2025.

Premier Explosives has received an export order for Rs 2.60 crore for supply of commercial explosives to be delivered within a period of 2 months.

US stock futures slipped after the outcome of pivotal trade negotiations between the Trump administration and China lacked the detail needed to lift markets hovering near all-time highs.

The board of directors of the company approved the first interim dividend of Rs 10 per equity share i.e. 500% on face value of Rs 2 per equity share for the Financial Year 2025-26.

IndiGo has announced the launch of direct flights to three key destinations—Almaty, Tashkent, and Tbilisi. Operations will commence from Mumbai to Almaty on July 1, followed by Tashkent from August 1, and Tbilisi from August 2.

The airline will operate four weekly flights each to Almaty and Tashkent, and three weekly flights to Tbilisi, significantly enhancing connectivity between India and the growing markets of Central Asia.

Gold prices are stuck in a range so far in the week, as markets look for clarity on the US-China trade talks with additional focus on the US inflation data later in the day and US Fed meeting next week.

However, downside in the bullion looks limited amid geo-political and tariff related uncertainty - keep safe-haven demand firm.

On chart, prices hold strong weekly support at 96100/ 95000, while on the upside resistance is seen at 99350.

The Sensex was up 359.36 points or 0.44 percent at 82,751.08, and the Nifty was up 110.70 points or 0.44 percent at 25,214.95. About 2319 shares advanced, 1173 shares declined, and 104 shares unchanged.

The Board of Directors of Allied Blenders and Distillers approved the acquisition of 100% of the equity share capital of UTO Asia Pte. Ltd. (UTO Asia), a company incorporated under the laws of Singapore. The total consideration of this acquisition is Euros 1,225,000.

Lancer Container Lines, Lords Chemicals, NMS Resources Global, Neopolitan Pizza and Foods, and Toyam Sports will announce their quarterly earnings on June 11.

Competition Commission of India (CCI) has accorded its approval for the proposed preferential allotment on a private placement basis of an aggregate of

1,26,75,685 equity shares of the company, having face value of Rs 10 each, at a price of Rs 329 per share and aggregating to Rs 417,03,00,365, to BREP Asia III India Holding Co VII Pte.

The company has entered into and signed a Joint Venture Agreement with Toyodenso Co.,  Japan for manufacturing and selling of advanced Automotive Switches for Automotive Segment in India.

This Joint Venture shall be operational through incorporation of a new joint venture entity.

Popular Vehicles & Services has received a Letter Of Intent from Maruti Suzuki India Limited to establish a new independent True Value outlet for preowned vehicles in Bangalore, Karnataka.

Mumbai Railway Vikas Corporation has awarded an order of Rs 44.04 crore to the company for supply, construction, installation, testing and commissioning of traction transformers, SPs & associated works.

The company has received a purchase order from a prestigious Automobile Original Equipment Manufacturer (OEM) worth Rs 45 crore.

HCLTech announced an expansion of its partnership with Standard Insurance Company, a leading provider of financial protection products and services for employers and individuals.

This expanded partnership with The Standard will deliver AI-driven infrastructure and application services to boost efficiency, support rapid growth and enhance customer experience.

This collaboration will also accelerate The Standard’s shift to an IT products and services-based operating model, enabling greater agility, customer value and progress toward the company’s long-term digital transformation goals.

The Hon’ble National Company Law Tribunal (NCLT), Chandigarh Bench has approved the scheme of arrangement between Inox Wind Energy (IWEL) & Inox Wind (IWL), consequent to which IWEL will be amalgamated into IWL.

Indian Renewable Energy Development Agency (IREDA) has successfully raised Rs 2,005.90 crore through a Qualified Institutions Placement (QIP).

The capital was mobilized by issuing 12.15 crore equity shares at a price of Rs 165.14 per share, which includes a premium of Rs 155.14 per share over the face value of Rs 10.

Indian rupee has extended the opening gains and trading higher at 85.46 per dollar on Wednesday versus Tuesday's close of 85.62.

The Sensex was up 335.98 points or 0.41 percent at 82,727.70, and the Nifty was up 107.70 points or 0.43 percent at 25,211.95. About 2342 shares advanced, 1108 shares declined, and 101 shares unchanged.

Talbros Automotive Components along with its JV’s has received orders worth ~ Rs 580 crores for both domestic and exports market from the leading OEM’s. These orders are to be executed over the period of next 5 years. These orders include orders from all the company’s product lines like gaskets, heat shields, forging components, chassis and hoses.

Rekha Jhunjhunwala's stake in Nazara Technologies slipped to 5.07 percent from 7.05 percent as she sold 17.38 lakh shares (1.98% equity) of the company from June 2-6.

Mahindra Logistics today announced the launch of its new state-of-the-art warehousing facility in Phaltan, Maharashtra.

Over 3 lakh sq. ft of this mega site is now operational as a dedicated site for Cummins India–a leading provider of power solutions in India–to optimize their nationwide operations through consolidation of products from multiple sources into one central location.

Through this warehouse, Mahindra Logistics will strengthen Cummins India’s logistic capabilities as well as improve supply chain efficiency, availability and visibility with an expansive integrated warehousing & distribution network.

#1 Management highlights monetisation opportunities in digital fabric

#2 Targets revenue growth, margin leverage & RoCE by FY28

#3 Continued focus on M&A & non-core asset divestments

#4 Guidance deferral expected, given steep FY27 ask rate

#5 Company seen as a unique play combining telecom stability & IT services growth

The AI-powered technology services and consulting company has announced the extension of its partnership with Metro AG, an international food wholesaler, for an additional two years. Under the renewed agreement, Wipro will continue to provide Metro with integrated digital services across cloud, data, application development, and AI-enabled IT support.

The Sensex was up 214.59 points or 0.26 percent at 82,606.31, and the Nifty was up 70.70 points or 0.28 percent at 25,174.95. About 2224 shares advanced, 1133 shares declined, and 118 shares unchanged.

The Hon'ble National Company Law Tribunal, Chandigarh Bench has sanctioned the composite scheme of arrangement between Antelopus Energy and Selan Exploration Technology, along with their respective shareholders and creditors.

Talbros Automotive Components along with its JV’s has received orders worth ~ Rs 580 crores for both domestic and exports market from the leading OEM’s. These orders are to be executed over the period of next 5 years. These orders include orders from all the company’s product lines like gaskets, heat shields, forging components, chassis and hoses.

Indian Renewable Energy Development Agency

RBL Bank

Aditya Birla Fashion and Retail

Chambal Fertilisers and Chemicals

Hindustan Copper

Titagarh Rail Systems

#1 Management highlights that the demand environment is not deteriorating further

#2 Deal pipeline healthy, but skewed toward cost-takeout/vendor consolidation

#3 AI seen as net-positive; pricing & lower pass-through costs key for margin

#4 FCF conversion expected to stay above 100 percent in FY26

Lancer Container Lines, Lords Chemicals, NMS Resources Global, Neopolitan Pizza and Foods, and Toyam Sports will announce their quarterly earnings on June 11.