Indian benchmark indices started the week on strong note, breaking two-day fall to end higher with Nifty at 24,950, led by buying across the sectors, ignoring mixed global cues amid ongoing Middle East tensions.
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.
The broader indices recovered from the intraday lows with BSE midcap index adding 0.9 percent and smallcap index rising 0.4 percent.
The wholesale inflation eased to a 14-month low of 0.39 percent in May, down from 0.85 percent in the previous month, reporting third consecutive month of decline.
Stocks & Sectors in Action
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 bank, FMCG, Capital Goods, Consumer Durables, IT, metal, realty, oil & gas up 0.5-1 percent.
United Drilling shares surged 20 percent on order win from ONGC of Rs 107.5 crore, Archies shares rose 9 percent on receiving $800,000 export orders from US parties, Godrej Properties shares gained as company is going to develop 14-acre land parcel in Hoskote, Bengaluru, Syngene International added 1 percent after USFDA concluded inspection with zero observations, Omaxe shares jumped more than 13 percent on acquiring 260 acres land in Amritsar, while Natco Pharma shares decline after USFDA issued Form 483 with 1 observation.
Sterlite Technologies share price jumped 20 percent after company expands its data centre portfolio to meet emerging requirements for AI data centres, IGL shares gained 6 percent on reports of easing transition deadlines in Delhi EV policy review, Arkade Developers added 5 percent on acquiring 6.28-acre freehold land parcel, Tata Motors shares slip nearly 4 percent as JLR flags 'close to zero' cash flow in FY26, while Sun Pharmaceutical Industries ended lower after USFDA issued 8 observations to Halol facility.
Nearly 100 stocks on the BSE touched their 52-week highs, including Maharashtra Scooters, Max Financial, Bharat Electronics, Laurus Labs, Max Healthcare, Narayana Hrudalaya, Muthoot Finance, Ramco Cements, Manappuram Finance, JK Cement, among others. Click to View More
Outlook for June 17
Rupak De, Senior Technical Analyst at LKP Securities
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.
Aditya Gaggar Director of Progressive Shares
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.
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