{"id":15215,"date":"2026-06-18T10:00:31","date_gmt":"2026-06-18T10:00:31","guid":{"rendered":"https:\/\/lemonn.co.in\/blog\/finance\/nifty-holds-24000-it-drags-2026-06-18\/"},"modified":"2026-06-18T10:01:59","modified_gmt":"2026-06-18T10:01:59","slug":"nifty-holds-24000-it-drags-2026-06-18","status":"publish","type":"post","link":"https:\/\/lemonn.co.in\/blog\/market-updates\/nifty-holds-24000-it-drags-2026-06-18\/","title":{"rendered":"Stock Market Highlights Today: Nifty holds 24,000, can bulls extend rally? – 18th June 2026"},"content":{"rendered":"
\"Sensex<\/figure>\n\n\n

Indian equities paused after a four-session rebound on Thursday, with the Nifty 50<\/strong> hovering just below 24,050<\/strong> as IT stocks slipped following a hawkish US Federal Reserve signal, while lower crude prices and firm midcaps limited downside.<\/p>\n\n\n\n

Market overview<\/h2>\n\n\n\n
Index<\/strong><\/th>18 Jun 2026 Close (approx.)<\/strong><\/th>Move & % Change<\/strong><\/th>Comments<\/strong><\/th><\/tr><\/thead>
Nifty 50<\/strong><\/td>24,050<\/strong><\/td>-3 pts (approx. 0%)<\/td>Snapped four-day rise, held above 24,000 despite IT pressure.<\/td><\/tr>
Sensex<\/strong><\/td>approx. flat<\/td>marginal move<\/td>Traded flat as IT names weighed, defensives and industrials lent support.<\/td><\/tr>
Nifty Midcap 100<\/strong><\/td>not stated<\/td>up to +0.3%<\/td>Broader market outperformed large caps.<\/td><\/tr>
Nifty Smallcap 100<\/strong><\/td>not stated<\/td>up to +0.3%<\/td>Positive breadth, continued participation in rebound.<\/td><\/tr>
India VIX<\/strong><\/td>13.19<\/strong><\/td>-1%<\/td>Volatility eased, indicating reduced near-term risk aversion.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Note: figures are approximate; final exchange data not available at time of publication.<\/p>\n\n\n\n

    \n
  • Nifty traded near 24,050<\/strong>, slipping only about 3 points, according to NSE data.<\/li>\n\n\n\n
  • The index has risen nearly 4.5% in the last 5 sessions<\/strong>, per recent trading ranges.<\/li>\n\n\n\n
  • Sensex moved in a narrow band, reflecting consolidation after the recent rebound.<\/li>\n\n\n\n
  • Market breadth on NSE stayed positive: 1,623 advances<\/strong>, 763 declines<\/strong>, 125 unchanged<\/strong>.<\/li>\n<\/ul>\n\n\n\n

    Sectoral action<\/h2>\n\n\n\n
    Sector \/ Index<\/strong><\/th>Direction (approx.)<\/strong><\/th>Key Drivers<\/strong><\/th><\/tr><\/thead>
    Nifty IT<\/strong><\/td>down about 0.75%<\/td>Profit taking after recent gains, sector led index losses.<\/td><\/tr>
    Nifty FMCG<\/strong><\/td>up about 0.4%<\/td>Defensive buying as benchmarks paused after rally.<\/td><\/tr>
    Nifty PSU Bank<\/strong><\/td>up about 0.4%<\/td>Benefited from stable rupee and lower crude prices.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

    Note: figures are approximate; final exchange data not available at time of publication.<\/p>\n\n\n\n

      \n
    • IT was the weakest major sector, extending its recent underperformance versus the headline index.<\/li>\n\n\n\n
    • FMCG and PSU banks provided some cushion to the benchmarks.<\/li>\n\n\n\n
    • Midcap and smallcap indices in the green signalled risk appetite beyond frontline IT.<\/li>\n<\/ul>\n\n\n\n

      Key movers<\/h2>\n\n\n\n

      Top losers (indicative)<\/h3>\n\n\n\n
      Stock<\/strong><\/th>Sector<\/strong><\/th>Notable Factor<\/strong><\/th><\/tr><\/thead>
      Infosys<\/strong><\/td>IT services<\/td>Fell about 1\u20132.5% as Nifty IT led sectoral declines.<\/td><\/tr>
      TCS<\/strong><\/td>IT services<\/td>Dropped nearly 1\u20132.5% amid weak sentiment in technology names.<\/td><\/tr>
      HCLTech<\/strong><\/td>IT services<\/td>Slipped 1\u20132.5% following hawkish Fed tone and sector profit booking.<\/td><\/tr>
      Tech Mahindra<\/strong><\/td>IT services<\/td>Declined 1\u20132.5%, part of broad-based IT selling.<\/td><\/tr>
      Wipro<\/strong><\/td>IT services<\/td>Traded lower in early deals, tracking sector weakness.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

      Note: figures are approximate; final exchange data not available at time of publication.<\/p>\n\n\n\n

        \n
      • Nifty IT emerged as the biggest sectoral loser, according to NSE data.<\/li>\n\n\n\n
      • Selling in large-cap IT names weighed on both Sensex and Nifty.<\/li>\n<\/ul>\n\n\n\n

        Top gainers (indicative)<\/h3>\n\n\n\n
        Stock<\/strong><\/th>Sector<\/strong><\/th>Notable Factor<\/strong><\/th><\/tr><\/thead>
        Bharat Electronics (BEL)<\/strong><\/td>Defence electronics<\/td>Gained around 1%, supported by bullish RSI and recent recovery.<\/td><\/tr>
        Trent<\/strong><\/td>Retail<\/td>Rose about 1%, bucking weakness in benchmarks.<\/td><\/tr>
        Larsen & Toubro (L&T)<\/strong><\/td>Capital goods<\/td>Added around 1%, aided by ongoing infra and capex optimism.<\/td><\/tr>
        Sun Pharmaceutical<\/strong><\/td>Pharmaceuticals<\/td>Reflected bullish RSI upswing, signalling strengthening momentum.<\/td><\/tr>
        JSW Steel \/ Nestle India<\/strong><\/td>Metals \/ FMCG<\/td>Featured in RSI trending up scan, indicating improving price strength.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

        Note: figures are approximate; final exchange data not available at time of publication.<\/p>\n\n\n\n

          \n
        • BEL<\/strong> showed a strong RSI uptick, with the indicator rising from 41.8 to 53.2<\/strong>.<\/li>\n\n\n\n
        • Sun Pharmaceutical<\/strong> RSI moved above 50, from 48.98 to 54.57<\/strong>, indicating building momentum.<\/li>\n\n\n\n
        • JSW Steel<\/strong>, Nestle India<\/strong>, and Tech Mahindra<\/strong> also appeared in the RSI trending up list.<\/li>\n<\/ul>\n\n\n\n

          Global cues and macro backdrop<\/h2>\n\n\n\n
          Market \/ Asset<\/strong><\/th>Movement<\/strong><\/th>Notes<\/strong><\/th><\/tr><\/thead>
          US Federal Reserve policy<\/strong><\/td>Rates unchanged<\/td>Dot plot signalled possible rate hike later in 2026.<\/td><\/tr>
          Brent crude<\/strong><\/td>around 78 USD\/bbl<\/strong><\/td>Down from above 95, after US\u2013Iran truce progress.<\/td><\/tr>
          USD\/INR<\/strong><\/td>around 94.52<\/strong><\/td>Rupee stable, supported by lower oil and easing risk aversion.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

          Note: figures are approximate; final exchange data not available at time of publication.<\/p>\n\n\n\n

            \n
          • The Fed kept rates steady but flagged inflation as \u201celevated\u201d relative to its 2% goal.<\/li>\n\n\n\n
          • More policymakers now expect a rate hike later this year, lifting the US 10-year yield to 4.46%<\/strong>.<\/li>\n\n\n\n
          • The hawkish tone offset some benefit from the ongoing decline in crude prices.<\/li>\n\n\n\n
          • Brent has fallen from above 95 dollars<\/strong> to about 78\u201379 dollars<\/strong>, a 15\u201320%<\/strong> drop in under two weeks.<\/li>\n\n\n\n
          • Lower crude prices are supportive for India\u2019s import bill, inflation trajectory, and fiscal space.<\/li>\n<\/ul>\n\n\n\n

            Nifty outlook and technical levels<\/h2>\n\n\n\n
              \n
            • Analysts see the recent move as a recovery leg, with the trend still biased higher.<\/li>\n\n\n\n
            • Multiple technical views place immediate resistance<\/strong> for Nifty in the 24,400\u201324,600<\/strong> zone.<\/li>\n\n\n\n
            • Akshay Bhagwat<\/strong>, Associate Director, Derivatives Research, JM Financial Services, highlighted a positional target of 24,600<\/strong>.<\/li>\n\n\n\n
            • He pegged 24,100<\/strong> as a minor resistance where intraday choppiness could emerge.<\/li>\n\n\n\n
            • Stronger support for the June series is seen around 23,800<\/strong>, making dips towards that zone potential buying opportunities.<\/li>\n\n\n\n
            • Anand James<\/strong>, Chief Market Strategist at Geojit Investments, also cited 24,200<\/strong> as an initial upside objective, followed by 24,300\u201324,600<\/strong>.<\/li>\n\n\n\n
            • He said a slip below 23,800<\/strong> would be needed to \u201cabandon upside hopes\u201d.<\/li>\n\n\n\n
            • A pullback above 24,060<\/strong> could signal a return to the uptrend after intraday weakness.<\/li>\n\n\n\n
            • Vishnu Kant Upadhyay<\/strong>, AVP, Research, Master Capital Services, pointed to a breakout from a falling trendline and reclaiming of key short-term moving averages.<\/li>\n\n\n\n
            • He identified the 24,400\u201324,600<\/strong> band, coinciding with the 200-EMA, as a critical near-term hurdle.<\/li>\n\n\n\n
            • Upadhyay noted that a move to 25,000<\/strong> by end-June may be difficult, even with the improved setup.<\/li>\n<\/ul>\n\n\n\n

              IT sector under pressure<\/h2>\n\n\n\n
                \n
              • Nifty IT remained the key drag on the market despite the broader rebound.<\/li>\n\n\n\n
              • Bhagwat described Nifty IT<\/strong> as still negative overall, trying to hold 27,500<\/strong> as support.<\/li>\n\n\n\n
              • He observed that every recovery attempt in IT has attracted renewed selling.<\/li>\n\n\n\n
              • His near-term stance on IT is neutral to bearish<\/strong>, with the index still searching for a durable bottom.<\/li>\n\n\n\n
              • Strategy for June series in IT, as per Bhagwat: sell into rallies rather than buy dips.<\/li>\n\n\n\n
              • Early trade on Thursday saw TCS<\/strong>, Infosys<\/strong>, Wipro<\/strong>, HCLTech<\/strong>, and Tech Mahindra<\/strong> down nearly 1\u20133%<\/strong>.<\/li>\n<\/ul>\n\n\n\n

                Broader positioning and stock ideas<\/h2>\n\n\n\n
                  \n
                • The recent rally has been supported by easing geopolitical tensions after progress on a US\u2013Iran truce.<\/li>\n\n\n\n
                • India VIX near 13<\/strong> reflects reduced risk aversion and improved investor confidence.<\/li>\n\n\n\n
                • Foreign institutional selling has tapered, with FIIs recently turning marginal buyers, as per market commentary.<\/li>\n\n\n\n
                • Some analysts expect Bank Nifty<\/strong> to stay strong with an upward bias, aided by stable rupee and lower oil.<\/li>\n\n\n\n
                • Bhagwat highlighted Bharat Electronics<\/strong> as a trading idea, with potential upside targets of \u20b9450<\/strong> and \u20b9462<\/strong> from around \u20b9429<\/strong>, and a stop-loss at \u20b9403<\/strong>.<\/li>\n\n\n\n
                • He also flagged TVS Motor<\/strong> after it established support near \u20b93,300<\/strong>, seeing scope for a breakout above \u20b93,500<\/strong> towards \u20b93,650\u20133,700<\/strong>, with \u20b93,300<\/strong> as stop-loss.<\/li>\n<\/ul>\n\n\n\n

                  Can Nifty test 25,000?<\/h2>\n\n\n\n
                    \n
                  • From around 24,100<\/strong>, Nifty needs roughly 3.8%<\/strong> upside to reach 25,000<\/strong>.<\/li>\n\n\n\n
                  • Vinit Bolinjkar<\/strong>, Head of Research at Ventura, said such a move is achievable if three conditions hold:<\/li>\n<\/ul>\n\n\n\n

                    – Brent crude sustains below 80 dollars<\/strong> per barrel.<\/p>\n\n\n\n

                    – FII flows continue to improve as macro concerns ease.<\/p>\n\n\n\n

                    – Q1 FY27 earnings commentary remains constructive.<\/p>\n\n\n\n

                      \n
                    • He expects Nifty could test the 24,700\u201325,000<\/strong> zone over the coming weeks if crude stays benign and global risk appetite remains firm.<\/li>\n\n\n\n
                    • Sustaining above 25,000<\/strong> would require stronger earnings visibility and continued foreign inflows.<\/li>\n\n\n\n
                    • Upadhyay cautioned that the US\u2013Iran truce is not yet formally signed, leaving room for renewed crude volatility.<\/li>\n\n\n\n
                    • He also cited risks from a stronger US dollar, potential domestic growth disappointments, Q1 FY27 earnings concerns, and inflation pressures.<\/li>\n<\/ul>\n\n\n\n

                      FAQ<\/h2>\n\n\n\n

                      Q: Why did Nifty struggle to extend gains today despite lower crude prices?<\/strong><\/p>\n\n\n\n

                        \n
                      • IT stocks led declines after a hawkish US Fed tone, offsetting support from softer Brent crude and firm midcaps.<\/li>\n<\/ul>\n\n\n\n

                        Q: What are the key Nifty support and resistance levels traders are watching?<\/strong><\/p>\n\n\n\n

                          \n
                        • Analysts highlight support near 23,800<\/strong> and resistance in the 24,400\u201324,600<\/strong> zone, with 24,000<\/strong> as an intraday pivot.<\/li>\n<\/ul>\n\n\n\n

                          Q: How is the IT sector positioned compared with the broader market?<\/strong><\/p>\n\n\n\n

                            \n
                          • Nifty IT remains weak, with analysts advising selling into rallies, while the broader Nifty trend still favours buying dips toward support.<\/li>\n<\/ul>\n\n\n\n

                            Frequently Asked Questions<\/h2>\n\n\n\n

                            Why did Nifty struggle to extend gains despite lower crude prices?<\/h3>\n\n\n\n

                            IT stocks fell after a hawkish US Fed signal, which offset the positive impact of softer Brent crude and firm midcaps, leaving Nifty flat around 24,050.<\/p>\n\n\n\n

                            What are the key Nifty support and resistance levels for traders now?<\/h3>\n\n\n\n

                            Analysts see strong support around 23,800 and resistance in the 24,400\u201324,600 band, with 24,000 acting as an important intraday pivot.<\/p>\n\n\n\n

                            Is the IT sector still a concern for the market outlook?<\/h3>\n\n\n\n

                            Yes. Nifty IT is viewed as neutral to bearish, with repeated selling on rallies. Some analysts recommend selling IT rallies while using dips in the broader Nifty as buying opportunities.<\/p>\n","protected":false},"excerpt":{"rendered":"

                            Indian equities paused after a four-session rebound on Thursday, with the Nifty 50 hovering just below 24,050 as IT stocks slipped following a hawkish US Federal Reserve signal, while lower crude prices and firm midcaps limited downside. Market overview Index 18 Jun 2026 Close (approx.) Move & % Change Comments Nifty 50 24,050 -3 pts […]<\/p>\n","protected":false},"author":15,"featured_media":15216,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_ayudawp_aiss_exclude":false,"_ayudawp_aiss_summary":"","_ayudawp_aiss_summary_provider":"","_ayudawp_aiss_summary_hash":"","footnotes":""},"categories":[512],"tags":[],"class_list":["post-15215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-updates"],"blocksy_meta":[],"uagb_featured_image_src":{"full":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nifty-holds-24000-it-drags-2026-06-18-banner.png",1200,640,false],"thumbnail":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nifty-holds-24000-it-drags-2026-06-18-banner-150x150.png",150,150,true],"medium":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nifty-holds-24000-it-drags-2026-06-18-banner-300x160.png",300,160,true],"medium_large":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nifty-holds-24000-it-drags-2026-06-18-banner-768x410.png",768,410,true],"large":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nifty-holds-24000-it-drags-2026-06-18-banner-1024x546.png",1024,546,true],"1536x1536":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nifty-holds-24000-it-drags-2026-06-18-banner.png",1200,640,false],"2048x2048":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nifty-holds-24000-it-drags-2026-06-18-banner.png",1200,640,false],"web-stories-poster-portrait":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nifty-holds-24000-it-drags-2026-06-18-banner-640x640.png",640,640,true],"web-stories-publisher-logo":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nifty-holds-24000-it-drags-2026-06-18-banner-96x96.png",96,96,true],"web-stories-thumbnail":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nifty-holds-24000-it-drags-2026-06-18-banner-150x80.png",150,80,true]},"uagb_author_info":{"display_name":"Team Lemonn","author_link":"https:\/\/lemonn.co.in\/blog\/author\/yudh\/"},"uagb_comment_info":0,"uagb_excerpt":"Indian equities paused after a four-session rebound on Thursday, with the Nifty 50 hovering just below 24,050 as IT stocks slipped following a hawkish US Federal Reserve signal, while lower crude prices and firm midcaps limited downside. Market overview Index 18 Jun 2026 Close (approx.) Move & % Change Comments Nifty 50 24,050 -3 pts…","_links":{"self":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/15215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/comments?post=15215"}],"version-history":[{"count":1,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/15215\/revisions"}],"predecessor-version":[{"id":15217,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/15215\/revisions\/15217"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media\/15216"}],"wp:attachment":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media?parent=15215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/categories?post=15215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/tags?post=15215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}