Closing Bell: Market shrugs off Israel-Iran conflict; Sensex up 678 pts, Nifty at 24,950

Indian equity indices ended on strong note with Nifty at 24,950 on June 16. At close, the Sensex was up 677.55 points or 0.84 percent at 81,796.15, and the Nifty was up 227.90 points or 0.92 percent at 24,946.50.

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.

Markets began the week on a firm note, gaining nearly a percent amid mixed cues. The benchmark opened on a positive note despite weak global markets, and sustained buying in select heavyweights across sectors pushed the index higher as the day progressed. As a result, the Nifty index settled near the day’s high at 24,946.50, up by 0.92%. Most sectoral indices also moved in line with the broader trend, with IT, realty, and metal emerging as the top gainers. The broader indices, too, saw a recovery after the recent decline, rising nearly a percent each.

The market's resilience amid lingering geopolitical tensions is encouraging. However, participants should remain cautious and not get carried away by a single-day rebound, especially as the index approaches the upper band of its current consolidation range, i.e., the 25,000–25,200 zone. We recommend maintaining a stock-specific trading approach, given the mixed trends across sectors, with a preference for relatively less volatile counters.

Today, the benchmark indices bounced back sharply; the Nifty ends 221 points higher, while the Sensex was up by 678 points. Among sectors, almost all major sectoral indices traded in positive territory, but the IT and Tourism indices outperformed, gaining over 1.5 percent. Technically, after a muted open, the market successfully cleared the 20-day SMA (Simple Moving Average) or the 24,850/81500 resistance mark. Following the breakout, positive momentum intensified. On daily charts, it has formed a bullish candle, and on intraday charts, it is holding an uptrend continuation formation, which is broadly positive.

We believe that the 20-day SMA or the 24,850/81500 and 24,775/81200 levels are key support zones for day traders, while 25,100/82300 and 25,150/82500 would act as crucial resistance levels for the bulls. For day traders, buying on intraday dips and selling on rallies would be the ideal strategy. However, below 24,775/81200, sentiment could turn negative. If the market drops below this level, traders may prefer to exit their long positions

Despite ongoing geopolitical tensions between Israel and Iran, the market moved higher, supported by gains in large-cap stocks, as investors maintained their focus on long-term fundamentals in the time of volatile situations. Geopolitical developments in the Middle East are likely to influence near-term market sentiment, with any signs of de-escalation being closely monitored.

Small-cap stocks are expected to underperform in the short term, given their elevated valuations and absence of short-term triggers. Among sectors, oil and gas recorded strong gains, while the IT sector outperformed in anticipation of the upcoming US Fed policy meeting, which is expected to provide further clarity on the interest rate outlook.

The index witnessed a sharp rally as it reclaimed the 21-EMA after a brief dip below it. On Friday, it had already found support at the recent consolidation low, and the index appeared fairly oversold on the hourly chart. Additionally, the weak FII long-short ratio of around 20% in index futures set the stage for the smart recovery that Nifty has just experienced.

Currently, with investors awaiting the Fed's follow-up commentary post the rate announcement, a steep directional move is not expected for now. However, a rally towards 25,350 looks highly probable once Nifty reclaims the 25,000 mark. On the downside, support is placed at 24,850.

Today, the Indian stock market closed on a positive note, with the BSE Sensex rising by approximately 677 points to settle around 81,796 and the Nifty50 crossing the 24,900 mark, up by about 227 points. This marked a sharp rebound after two consecutive sessions of losses, despite ongoing geopolitical tensions between Israel and Iran that continued to influence global market sentiment.

The positive closing was driven by strong performances in key sectors, notably IT and financials. Stocks like TCS, HCLTech, and Bharti Airtel were among the top gainers, while sectors such as Nifty IT led the rally with gains exceeding 1%.

The market shrugged off concerns related to the Middle East conflict, supported by easing inflation data—India’s Wholesale Price Index (WPI) inflation cooled to 0.39% YoY in May, which helped bolster investor confidence.

Looking ahead, market expectations remain cautiously optimistic. The ongoing geopolitical risks, particularly the potential impact on crude oil prices, continue to be a watchpoint.

The market witnessed a strong recovery after a minor dip in the morning session, with the Index gradually compounding its gains and ending the day on a positive note at 24,946.50 with gains of 227.90 points.

All the sectors settled the trade in green territory, with IT and Realty being the major gainers. Midcap and Smallcap indices trimmed all their early losses, each posting gains of around 1% by the end of the session.

On the technical front, Nifty50 formed a strong bullish candle on the daily chart. If this trend continues, the index is likely to breach its current congestion zone on the higher side. The immediate resistance is seen at 25,200, while the support level has been revised upward to 24,840.

QIB – 0.25 times

NII - 3.40 times

Retail – 1.02 times

Overall – 1.32 times

The Indian rupee clawed back most of its early losses to close with a minor appreciation versus US dollar. This resilience was fueled by a prevailing risk-on sentiment, consistent dollar inflows into the market, and a string of positive economic data domestically.

The rupee's stability were backed by a lower wholesale inflation rate and a decline in trade deficit reading.

Looking ahead, the spot USD/INR is expected to find support at 85.85 and encounter resistance at 86.45.

Indian rupee ended marginally higher at 86.06 per dollar on Monday versus Friday's close of 86.09.

Indian equity indices ended on strong note with Nifty at 24,950 on June 16.

At close, the Sensex was up 677.55 points or 0.84 percent at 81,796.15, and the Nifty was up 227.90 points or 0.92 percent at 24,946.50. About 1898 shares advanced, 2026 shares declined, and 163 shares unchanged.

Biggest Nifty gainers included SBI Life Insurance, UltraTech Cement, Bharat Electronics, HDFC Life, ONGC, while losers were Tata Motors, Dr Reddy's Laboratories, Adani Ports and Sun Pharma.

All the sectoral indices ended in the green with IT, metal, realty, oil & gas up 1 percent each.

The BSE midcap index added 0.9 percent and smallcap index rose 0.4 percent.

#1 NMDC cut iron ore prices by 2.5 percent MoM in June 2025, further cuts likely

#2 Domestic prices at 8 percent discount to import parity vs 20 percent historically

#3 Weak steel prices expected to drive price normalisation

#4 Ramp-up of merchant mines and lower exports to add pressure

#5 Seaborne market remains weak amid rising low-cost supply & soft Chinese demand

#1 Management confident on mid-teens APE growth & margin gains in FY26

#2 VNB estimates raised by 2 percent

#3 Succession & low attrition seen as key, with management optimistic

#4 Lower risk from Banca norms & insurance act changes are positives

#5 Axis-Max life offers strong risk-reward; among top sector picks

#1 Management reiterated long-term tailwinds for aviation growth in India

#2 Focus remains on cost leadership & timely fleet orders, amid space consolidation

#3 International segment is a key growth lever with new fleet & new routes

#4 Company is expanding its geographic & customer profile through recent initiatives

#1 Management highlighted the scale-up & transformation of IHCL over the past 8 years

#2 Reaffirmed a positive demand-supply cycle for hospitality in India

#3 Maintained double-digit revenue growth guidance for FY26

#4 Reiterated FY30 targets of doubling the portfolio & consolidated revenues

#5 Expanding new/reimagined businesses & targeting an asset-light mix of 75 percent.

The Sensex was up 696.26 points or 0.86 percent at 81,814.86, and the Nifty was up 226.50 points or 0.92 percent at 24,945.10. About 1743 shares advanced, 1828 shares declined, and 150 shares unchanged.

QIB – 0.24 times

NII - 2.90 times

Retail – 0.93 times

Overall – 1.16 times

#1 Exports down 2.2 percent at USD 38.73 billion versus $39.59 billion, YoY

#2 Imports down 1.76 percent at USD 60.61 billion versus USD 61.68 billion, YoY

#3 Trade deficit at USD 21.88 billion against USD 22.09 billion, YoY

Indian Rupee gained on Monday on weak US Dollar and surge in domestic markets. A decline in crude oil prices also supported the Rupee. India’s WPI inflation cooled off to 0.39% y-o-y in May 2025 vs forecast of 0.8%. However, geopolitical tensions in the Middle East capped sharp gains. Market have recovered on expectations that the situation in the Middle East may not turn out into a full blown war.

We expect Rupee to trade with a negative bias as risk aversion in the global markets amid geopolitical tensions in the Middle East may keep Rupee under the leash. Elevated crude oil prices and FII outflows also pressurise the Rupee. However, in the cast of easing tensions, we may see a recovery in the domestic currency. Traders may take cues from the Empire State Manufacturing Index data from the US. USDINR spot price is expected to trade in a range of Rs 85.70 to Rs 86.40.

#1 NMDC’s prices may correct ahead

#2 Price premium to export parity likely to normalise

#3 Lloyds plans to boost iron ore capacity to 25 MT by FY26

#4 Domestic steel prices may fall as imports rise, with premium to import parity

#5 NMDC trades at 6x EV/EBITDA

QIB – 0.24 times

NII - 2.74 times

Retail – 0.92 times

Overall – 1.12 times

The Sensex was up 680.03 points or 0.84 percent at 81,798.63, and the Nifty was up 226.95 points or 0.92 percent at 24,945.55. About 1567 shares advanced, 1969 shares declined, and 150 shares unchanged.

#1 Management awaits clarity on any changes to F&O expiry days

#2 Management expects no material volume impact

#3 Continues to target onboarding clients focused on longer-dated expiries in F&O segment

#4 Transition to common contract note can improve liquidity & market share

#5 New derivative instruments and growth in data services to aid profitability

#6 Expect 30 percent PAT CAGR over FY25-28

#1 Management remains confident of reaching a cement capacity target of 140 MTPA by FY28

#2 Provided updates on scaling up cost-efficiency targets over the next few years

#3 Expects industry demand to recover to 7–8 percent in FY26

#4 On pricing, management indicated improvement in recent months

#1 Limited near-term catalysts after the stock's 33 percent rally in the last 3 months

#2 Equity inflows have stayed strong in recent years

#3 Equity inflows driven by low inflation, stable GDP growth & supportive policy

#4 However, inflows have slowed YTD

#5 SIP flows remain resilient & are a medium-term support for the stock

#6 Valuations at FY26/27 PE of 37x/33x already reflect these positives

The cooling down of WPI consecutively for the third time in a row to a 14-month-low, trailing CPI to a nearly 6-year low, along with the RBI rate cut, defines an ideal economic growth sentiment across the country. This has led to a well-sustained moderation in food inflation, which is a great relief for both individual consumers and the food services sector.

With the backdrop of a favourable monsoon and a strengthened liquidity flow in the hands of the consumers, we foresee a balanced sentiment going forward that will continue to keep the inflation within the targeted range.

Having said that, it will be critical for industry players to keep a constant watch on commodity trends and develop agile procurement models. There is massive scope for policymakers and businesses to collaboratively balance inflation control through the integration of AI at the grassroots level which will ease the burden on consumption-driven sectors like food services and retail.

The Sensex was up 632.91 points or 0.78 percent at 81,751.51, and the Nifty was up 207.30 points or 0.84 percent at 24,925.90. About 1398 shares advanced, 2109 shares declined, and 153 shares unchanged.

The company proposed the issuance of non-convertible debentures amounting to Rs 50 crore, including 5,000 NCDs of face value

Rs 1,00,000 each.

Gold prices are trading slightly lower on profit-booking; however the underlying momentum is expected to remains positive as safe-haven bids remain firm amid escalation in the Israel-Iran war and trade tariff related uncertainty. However, we may see some consolidation ahead key central bank meetings during the week with focus on U.S. Fed meeting on Wednesday.

Technically, on chart prices hold supports at Rs 99,450 and next at Rs 98,400, while on the upside resistance is seen at Rs 100,700.

United Drilling Tools has secured a significant order from Oil and Natural Gas Corporation (ONGC) for the supply of Large Outer Diameter (OD) casing pipes with connector and the order valued at Rs 1075.47 MN (including GST) which scheduled to be fulfilled over a period of approximately 9 months.

Capri Global Capital has raised Rs 2,000 crores through the issuance of equity shares to Qualified Institutional Buyers by way of Qualified Institutions Placement.

Archies has received 8 lakh USD export order from big US Parties. This export order signifies a pivotal moment for Archies and targeted to complete the orders within 3 months.

Godrej Properties today announced that it will develop a premium residential project on a strategically located ~ 14-acre land parcel in Hoskote, East Bengaluru. The proposed development is expected to offer approximately 1.5 million square feet of saleable area with an estimated revenue potential of ~ Rs 1,500 crore.

The US Food and Drug Administration (USFDA) conducted a Good Manufacturing Practices (GMP) inspection of company's Halol facility in Gujarat, during June 2-13. At the conclusion of the inspection, the US FDA issued a Form-483, with 8 observations.

Additionally, the Board has appointed Kirti Ganorkar as the company’s Managing Director, for five years, effective September 1, 2025. Dilip Shanghvi will continue as the Executive Chairman of the company's Board.

Pokerverse VR is now available worldwide. Developed by Hyderabadbased studio YesGnome and published by Nazara Publishing, this marks Nazara’s debut in Virtual Reality / Metaverse gaming.

The United States Food and Drug Administration (USFDA) conducted a Good Clinical Practices (GCP) compliance inspection of company's facility at Semicon Park, Bengaluru, during June 9-13. The inspection concluded with zero observations and no Form 483 was issued. The inspection has been classified as No Action Indicated (NAI).

Additionally, however, the company has received Establishment Inspection Report (EIR) from USFDA for its manufacturing facilities at Biocon Park, SEZ, Bengaluru. The EIR concluded the inspectional outcome as Voluntary Action Indicated (VAI). The routine current Good Manufacturing Practices (cGMP) inspection of Biocon Park was conducted by the USFDA during February 10-20, 2025.

Omaxe has acquired 260 acres of land for its integrated township—New Amritsar, and in the first phase, it is developing 127 acres with an investment of over Rs 1000 crore.

The Sensex was up 526.86 points or 0.65 percent at 81,645.46, and the Nifty was up 175.70 points or 0.71 percent at 24,894.30. About 1282 shares advanced, 2139 shares declined, and 173 shares unchanged.

The US FDA concluded the inspection of company's API manufacturing plant and issued Form 483 with 1 observation. The US health regulator had conducted an inspection at the said plant during June 9-13. The company believes that the observation is procedural in nature.

Sterlite Technologies today announced the launch of a new generation of Data Centre solutions, ranging from cabling to end-to-end connectivity offerings designed to power the relentless demands of AI-driven data centre infrastructure.

This new-age solution is engineered to meet the exact requirements of hyperscalers, colocation players, enterprises and telecom service providers to build agile, scalable, and sustainable Data Centre infrastructure.

#1 FY25 organic revenue growth of 18.1 percent in USD terms outpaced most peers

#2 USD 5 billion revenue target by FY31 looks achievable given broad growth drivers

#3 Factoring in 200 bps margin gain by FY27 vs 200–300 bps guidance

#4 With 40 percent RoCE in FY25 & scope for margin expansion, valuation prem vs peers should hold

Indian rupee is trading flat at 86.08 per dollar versus Friday's close of 86.09.

The Sensex was up 491.31 points or 0.61 percent at 81,609.91, and the Nifty was up 164.85 points or 0.67 percent at 24,883.45. About 1206 shares advanced, 2138 shares declined, and 171 shares unchanged.

#1 Management expects favourable policy actions to aid consumption & credit demand in H2FY26

#2 Reiterated loan growth guidance in-line with the sector for FY26 & ahead in FY27

#3 NIMs will correct near-term & rise in FY27, asset quality remains healthy

#4 See recent allegations on the bank/CEO as a non-event, albeit noisy

#5 Bank remains among top sector picks

Lupin has signed a license and supply agreement with Sino Universal Pharmaceuticals (SUP), for the commercialization of Tiotropium Dry Powder Inhaler (DPI), 18 mcg/capsule, in the Chinese market, for the treatment of chronic obstructive pulmonary disease (COPD).

Arkade Developers has announced its foray into the Thane real estate market with a landmark acquisition of a 6.28-acre freehold land parcel. The transaction, valued at Rs 172.48 crore including Stamp Duty, will pave the way for a marquee mixed-use development with a projected gross development value (GDV) of Rs 2000 crore having a RERA saleable area of 9.26 lakh sq. ft., the project launch is slated for early 2026.

Agneya Systems, a wholly owned step-down subsidiary of Adani Enterprises has incorporated a wholly owned subsidiary (WOS) namely “Astraan Defence” in India on June 13, 2025.

Indian rupee is erased all the early losses and trading marginally higher at 86.06 per dollar versus Friday's close of 86.09.

SpiceJet and Carlyle Aviation Management have entered into a term sheet to restructure certain aircraft lease obligations of SpiceJet aggregating to USD 121,176,999.65

SpiceJet Ltd. has reported its highest-ever quarterly net profit of Rs 319 crore for Q4 FY25, a 12-fold jump from Rs 26 crore in the previous quarter, signalling a strong turnaround for the low-cost carrier after years of financial turbulence.

This marks the airline’s second consecutive profitable quarter and, notably, its first full-year net profit since FY18. For the full financial year, SpiceJet posted a profit of Rs 48 crore, reversing a net loss of Rs 404 crore in FY24.

The airline’s revival has been powered by robust passenger demand, effective cost optimisation, and stronger yield management.

Operating revenue in the March quarter surged 17.5 percent sequentially to Rs 1,446 crore, while total revenue rose to Rs 1,942 crore. EBITDA more than doubled to Rs 527 crore, and the Passenger Load Factor remained high at 88.1 percent. Revenue per Available Seat Kilometre (RASK) also improved to Rs 5.66. Read More

Shares of Tata Motors fell over 5 percent to Rs 673 on June 16 after Jaguar Land Rover (JLR), its UK-based luxury arm, flagged weak free cash flow expectations and a slew of macro risks in its latest investor presentation.

JLR said it expects free cash flow to be “close to zero” in FY26, even as it remains committed to its investment plans and aims to maintain EBIT margins in the range of 5–7 percent. The company highlighted that enterprise transformation remains critical to its “reimagine” journey, which is expected to progressively deliver £1.4 billion in annual benefits.

The British subsidiary listed multiple present and emerging risks that could impact profitability. These include a semiconductor shortage, aluminium supplier flooding, rising thefts in the UK, and looming concerns such as US tariffs, the transition to battery electric vehicles (BEVs), tightening regulations, and shifting customer expectations. Read More

#1 Management has made key leadership changes

#2 Halol inspection led to 8 observations

#3 Sun Pharma has manufacturing exposure in Israel via Taro

#4 Investors await clarity on US tariffs for branded drugs

#5 Tariff announcement expected next month

#6 Nature of Halol observations is key in the interim

Tapas Guha Thakurata has resigned as the Chief Executive Officer of the company due to personal health reasons, effective June 30.

The Board has approved the re-designation of Sachin D Patel from Non-Executive Non-Independent Director to Managing Director for a period of five years, effective July 1.

The Sensex was up 40.28 points or 0.05 percent at 81,158.88, and the Nifty was up 13.50 points or 0.05 percent at 24,732.10. About 886 shares advanced, 2278 shares declined, and 177 shares unchanged.

HUDCO

Manappuram Finance

Aditya Birla Fashion and Retail

Birlasoft, Central Depository Services

Chambal Fertilisers and Chemicals

Indian Energy Exchange

Indian Renewable Energy Development Agency (IREDA)

RBL Bank

Titagarh Rail Systems

The company has completed acquisition of 100% stake (1.87 crore Shares) of Sresta Natural Bioproducts for Rs 400 crore.

#1 Net profit at Rs 110 crore vs Rs 16 crore

#2 Revenue up 49 percent at Rs 2,274 crore vs Rs 1,526 crore

#3 EBITDA up 54.4 percent at Rs 275.80 crore vs Rs 178.60 crore

#4 Margin at 12.13 percent vs 11.70 percent

The US FDA concluded the inspection of company's API manufacturing plant and issued Form 483 with 1 observation. The US health regulator had conducted an inspection at the said plant during June 9-13. The company believes that the observation is procedural in nature.

Nucleus Software announced the appointment of Aabhinna Suresh Khare as its new Chief Marketing Officer (CMO). Aabhinna will lead the global marketing vision, spearhead digital brand transformation, and drive deeper stakeholder engagement across geographies.

Sterlite Technologies today announced the launch of a new generation of Data Centre solutions, ranging from cabling to end-to-end connectivity offerings designed to power the relentless demands of AI-driven data centre infrastructure.

This new-age solution is engineered to meet the exact requirements of hyperscalers, colocation players, enterprises and telecom service providers to build agile, scalable, and sustainable Data Centre infrastructure.

The share touched a 52-week high of Rs 4,801.40 and a 52-week low of Rs 2,952.05 on 20 September, 2024 and 03 March, 2025, respectively.

Currently, the stock is trading 14.58 percent below its 52-week high and 38.94 percent above its 52-week low.

Market capitalisation stands at Rs 62,227.19 crore.