Market Commentary Quick Review News Details

Sensex settles 291 pts higher; Nifty ends above 24,100 level

(22-Jun-26   15:56)

The key equity benchmarks ended with decent gains on Monday, supported by easing tensions in West Asia and a decline in crude oil prices. The Nifty settled above the 24,100 level. Barring FMCG and Consumer Durables indices, all other sectoral indices ended in the green on the NSE.

As per provisional closing data, the barometer index, the S&P BSE Sensex advanced 291.17 points or 0.38% to 77,094.07. The Nifty 50 index rose 89.80 points or 0.37% to 24,102.90.

In the broader market, the S&P BSE Mid-Cap index added 0.43% and the S&P BSE Small-Cap index jumped 0.76%.

The market breadth was strong. On the BSE, 2,634 shares rose and 1,757 shares fell. A total of 206 shares were unchanged.

In the commodities market, Brent crude for August 2026 settlement fell 58 cents or 0.73% to $79.27 a barrel.

Initial Public Offer (IPO):

Turtlemint Fintech Solutions received bids for 1,68,55,412 shares as against 3,29,01,878 shares on offer, according to stock exchange data at 15:35 IST on 22 June 2026. The issue was subscribed 0.51 times.

The issue opened for bidding on 19 June 2026 and it will close on 23 June 2026. The price band of the IPO is fixed between Rs 144 and 152 per share. An investor can bid for a minimum of 98 equity shares and multiples thereof.

Economy:

India's foreign exchange reserves declined by $9.99 billion to $671.63 billion during the week ended June 12, 2026, primarily due to a sharp fall in gold reserves, according to data released by the Reserve Bank of India (RBI) on Friday.

Foreign currency assets (FCAs), a major component of the reserves, increased by $846 million to $544.29 billion during the reporting week.

However, gold reserves declined by $10.75 billion to $103.82 billion. Special Drawing Rights (SDRs) also fell by $66 million to $18.70 billion.

India's reserve position with the International Monetary Fund (IMF) decreased by $11 million to $4.82 billion during the week, RBI data showed.

Maharashtra Monsoon Session 2026:

The Maharashtra Legislature's monsoon session begins today, 22 June 2026 and will continue until July 10, 2026. The three-week session will be held in Mumbai and is expected to deliberate on several important legislative and policy matters concerning the state.

Buzzing Index:

The Nifty Media index rose 1.42% to 1,536.95. The index rallied 1.38% in three consecutive trading sessions.

PVR Inox (up 3.19%), Saregama India (up 2.44%), Zee Entertainment Enterprises (up 2.11%), Nazara Technologies (up 1.08%), Sun TV Network (up 0.74%), Network 18 Media & Investments (up 0.41%), Hathway Cable & Datacom (up 0.16%).

On the other hand, Prime Focus (down 3.15%), D B Corp (down 0.75%) and Tips Music (down 0.15%) turned lower.

Stocks in Spotlight:

Asian Energy Services jumped 1.32% after the company said that it has secured an engineering, procurement and construction (EPC) contract worth Rs 187.62 crore from Gujarat State Electricity Corporation (GSECL).

Divgi Torqtransfer Systems rose 0.69%. The company announced that it has secured a strategic order from an existing leading Indian original equipment manufacturer (OEM).

Sun Pharmaceutical Industries added 1.39% after the company said that it has entered into an agreement for acquiring 100% outstanding shares of Innovcare Lifesciences for a total consideration of Rs 271.2 crore.

Aurobindo Pharma shed 0.12%. The company announced that its wholly owned subsidiary, Aurobindo Pharma USA, Inc., has received approval from the U.S. Federal Trade Commission (FTC) to proceed with the acquisition of Lannett Company LLC.

Knowledge Marine & Engineering Works (KMEW) jumped 13.73% after its consortium bagged a Rs 66.11 crore contract from the Inland Waterways Authority of India (IWAI) for 10 hybrid electric passenger ferries.

Power Mech Projects rallied 1.39% after the company announced that it had secured a contract worth Rs 1,008.90 crore from JSW Thermal Energy.

Stanley Lifestyles rose 2.53% after it has received an order from Infopark Developers, a Tata Realty company, for the supply of armchairs for an office area.

Rail Vikas Nigam (RVNL) rose 0.84%. The company has secured a Rs 2,977 crore contract from NMDC for developing infrastructure facilities at Vizag, Andhra Pradesh.

Global Markets:

European markets traded lower on Monday amid growing speculation that U.K. Prime Minister Keir Starmer would outline a timetable for his departure, with Andy Burnham emerging as the frontrunner to succeed him as Labour leader and prime minister.

Asian markets ended higher as investors continued to assess the latest developments in the Iran conflict negotiations and awaited the release of inflation data closely watched by the Federal Reserve.

Brent crude oil futures edged lower after mediators Qatar and Pakistan said that U.S. and Iranian officials had agreed on a roadmap to reach a final deal within 60 days.

U.S. stock markets remained closed on Friday, June 19, in observance of Juneteenth, the federal holiday commemorating the end of slavery in the United States.

U.S. stocks rose on Thursday, staging a comeback after the Federal Reserve indicated the possibility of a rate cut later this year, following a sell-off in equities during the previous session.

The S&P 500 gained 1.08% to close at 7,500.58, while the Nasdaq Composite climbed 1.91% to 26,517.93. The Dow Jones Industrial Average rose 72.15 points, or 0.14%, to end at 51,564.70.

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