{"id":15346,"date":"2026-06-24T10:11:38","date_gmt":"2026-06-24T10:11:38","guid":{"rendered":"https:\/\/lemonn.co.in\/blog\/finance\/nifty-gains-banks-it-rebound-2026-06-24\/"},"modified":"2026-06-24T10:13:14","modified_gmt":"2026-06-24T10:13:14","slug":"nifty-gains-banks-it-rebound-2026-06-24","status":"publish","type":"post","link":"https:\/\/lemonn.co.in\/blog\/market-updates\/nifty-gains-banks-it-rebound-2026-06-24\/","title":{"rendered":"Stock Market Highlights Today: Nifty gained 235 pts, is the uptrend back on track \u2013 24th June 2026"},"content":{"rendered":"
\"Sensex<\/figure>\n\n\n

Indian equities rebounded sharply on Wednesday, with the Nifty 50<\/strong> reclaiming the 24,050<\/strong> mark after gaining about 235 points<\/strong> intraday and the Sensex<\/strong> rising more than 900 points<\/strong>, as buying in banking and IT stocks combined with softer crude prices and easing rate-hike fears.<\/p>\n\n\n\n

Traders cited short covering in index heavyweights, expectations that the Reserve Bank of India may not rush into further rate increases, and optimism around a potential India US trade deal as key drivers of the recovery from Tuesday’s selloff.<\/p>\n\n\n\n

Market overview<\/h2>\n\n\n\n
Index<\/strong><\/th>24 Jun 2026 Close (approx.)<\/strong><\/th>Move & % Change<\/strong><\/th>Comments<\/strong><\/th><\/tr><\/thead>
Sensex<\/strong><\/td>77,100<\/td>+900 pts (approx. +1.2%)<\/td>Rebounded after prior session drop, led by banks and IT.<\/td><\/tr>
Nifty 50<\/strong><\/td>24,059<\/strong><\/td>+235 pts (+1.0%)<\/strong><\/td>Reclaimed 24,050 after testing support near 23,800.<\/td><\/tr>
Nifty Midcap 100<\/td>approx. flat to slightly lower<\/td>around -0.1% to -0.3%<\/td>Broader markets muted, underperformed large caps.<\/td><\/tr>
Nifty Smallcap 100<\/td>approx. flat to slightly lower<\/td>around -0.1% to -0.3%<\/td>Slipped into red despite headline index gains.<\/td><\/tr>
India VIX<\/strong><\/td>13.6\u201313.7<\/strong><\/td>about -2% to -3%<\/td>Volatility eased as indices stabilised above key supports.<\/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
  • BSE market capitalisation<\/strong> rose to about \u20b9477 lakh crore<\/strong>, adding roughly \u20b92 lakh crore<\/strong> in a day.<\/li>\n\n\n\n
  • Intraday, Sensex<\/strong> hit around 77,190<\/strong>, while Nifty 50<\/strong> tested 24,090<\/strong>.<\/li>\n\n\n\n
  • Earlier in the day, Nifty briefly traded near 23,900<\/strong>, then extended gains through the session.<\/li>\n<\/ul>\n\n\n\n

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

    Top gainers<\/h3>\n\n\n\n
    Stock<\/strong><\/th>Sector<\/strong><\/th>Notable Factor<\/strong><\/th><\/tr><\/thead>
    Tech Mahindra<\/strong><\/td>IT<\/td>Rose around 3%, part of broad IT rebound.<\/td><\/tr>
    ICICI Bank<\/strong><\/td>Private bank<\/td>Gained about 3%, supported Bank Nifty recovery.<\/td><\/tr>
    IndiGo<\/strong><\/td>Aviation<\/td>Advanced around 2%, aided by softer crude prices.<\/td><\/tr>
    HDFC Bank<\/strong><\/td>Private bank<\/td>Climbed about 2%, key contributor to index gains.<\/td><\/tr>
    Infosys<\/strong><\/td>IT<\/td>Added around 2%, helped lift Nifty IT index.<\/td><\/tr>
    TCS<\/strong><\/td>IT<\/td>Gained about 2%, participated in IT-led pullback.<\/td><\/tr>
    Trent<\/strong><\/td>Retail<\/td>Jumped more than 4% in early trade, led Sensex gainers.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
      \n
    • Nifty IT<\/strong> index rose up to 1.5%<\/strong>, reversing part of recent underperformance.<\/li>\n\n\n\n
    • Nifty Private Bank<\/strong> index also gained up to 1.5%<\/strong>, driven by large private lenders.<\/li>\n<\/ul>\n\n\n\n

      Top losers<\/h3>\n\n\n\n
      Stock<\/strong><\/th>Sector<\/strong><\/th>Notable Factor<\/strong><\/th><\/tr><\/thead>
      Maruti Suzuki<\/strong><\/td>Auto<\/td>Fell nearly 1%, bucked broader index uptrend.<\/td><\/tr>
      NTPC<\/strong><\/td>Power<\/td>Declined around 1%, weighed on Sensex.<\/td><\/tr>
      Titan<\/strong><\/td>Consumer durables<\/td>Dropped nearly 1%, among key laggards.<\/td><\/tr>
      Power Grid<\/strong><\/td>Power<\/td>Slipped close to 1%, capped index gains.<\/td><\/tr>
      Bharti Airtel<\/strong><\/td>Telecom<\/td>Eased about 1%, early-session underperformer.<\/td><\/tr>
      Tata Steel<\/strong><\/td>Metals<\/td>Lost nearly 1%, in line with weak Nifty Metal index.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
        \n
      • Nifty Metal<\/strong> index traded lower, down about 0.6%<\/strong>, extending pressure from the previous session.<\/li>\n\n\n\n
      • Market breadth on NSE was mixed, with advances roughly matching declines through the day.<\/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>up 1.0% to 1.5%<\/td>Short covering, attractive valuations, stronger dollar.<\/td><\/tr>
        Nifty Private Bank<\/strong><\/td>up around 1.5%<\/td>Healthy credit growth, easing funding concerns.<\/td><\/tr>
        Nifty Pharma<\/td>up about 0.5%<\/td>Defensive buying amid monsoon concerns.<\/td><\/tr>
        Nifty Metal<\/td>down about 0.6%<\/td>Followed global risk-off in commodities.<\/td><\/tr>
        Nifty Consumer Durables<\/td>mildly down<\/td>Stock-specific profit taking in names like Titan.<\/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
        • Banking and financial indices, including Bank Nifty<\/strong>, gained nearly 2%<\/strong> intraday.<\/li>\n\n\n\n
        • Analysts highlighted strong credit growth and RBI measures on FCNR deposits and ECBs as sector supports.<\/li>\n\n\n\n
        • IT stocks benefited from expectations that AI-related disruption could create new opportunities over time.<\/li>\n<\/ul>\n\n\n\n
            \n
          • “The banking sector continues to benefit from healthy credit growth” said Pankaj Pandey, head of research at ICICI Securities.<\/li>\n<\/ul>\n\n\n\n

            Technical outlook on Nifty and key indices<\/h2>\n\n\n\n
            Statistic \/ Level<\/strong><\/th>Value \/ Range<\/strong><\/th>Context<\/strong><\/th><\/tr><\/thead>
            Nifty immediate support<\/strong><\/td>23,780\u201323,800<\/strong><\/td>Key gap support; repeated tests without breakdown.<\/td><\/tr>
            Nifty resistance zone<\/td>23,950\u201324,150<\/td>Sustained move above may extend relief rally.<\/td><\/tr>
            Bank Nifty support<\/strong><\/td>around 59,956<\/strong><\/td>Watch level for next leg towards 61,000.<\/td><\/tr>
            Bank Nifty upside target<\/td>about 61,000<\/strong><\/td>Seen as next move if support holds.<\/td><\/tr>
            Nifty Defence target<\/td>10,700\u201310,800<\/td>Analyst expects continuation of uptrend after pullback.<\/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
            • Rohit Srivastava pegs 23,800<\/strong> as critical Nifty support, with potential to reach 25,000<\/strong> if it holds.<\/li>\n\n\n\n
            • He sees Bank Nifty<\/strong> heading towards 61,000<\/strong> once the current support band is respected.<\/li>\n\n\n\n
            • On sector indices, he views recent weakness in defence as a pullback within a broader uptrend.<\/li>\n<\/ul>\n\n\n\n
                \n
              • “As long as this support holds and we close positive today, the next target for the market is to cross the 25,000 mark” said Rohit Srivastava, Founder, Strike Money Analytics & Indiacharts.<\/li>\n<\/ul>\n\n\n\n
                  \n
                • Rajesh Palviya of Axis Direct notes the undertone stays cautious below 23,950<\/strong>, with support near 23,780<\/strong>.<\/li>\n\n\n\n
                • He flags 23,600<\/strong> as a deeper downside level if support breaks, while 24,100\u201324,150<\/strong> is the next resistance band.<\/li>\n<\/ul>\n\n\n\n

                  Global cues and macro drivers<\/h2>\n\n\n\n
                  Market \/ Asset<\/strong><\/th>Movement<\/strong><\/th>Notes<\/strong><\/th><\/tr><\/thead>
                  South Korea Kospi<\/td>around +3%<\/td>Rebounded after prior 10% plunge in semiconductor-led selloff.<\/td><\/tr>
                  Hang Seng<\/td>about +0.4%<\/td>Helped risk sentiment in Asia.<\/td><\/tr>
                  Nikkei<\/td>slightly negative<\/td>Continued to digest global tech correction.<\/td><\/tr>
                  Shanghai Composite<\/td>slightly negative<\/td>Mixed cues from mainland China.<\/td><\/tr>
                  Brent crude<\/strong><\/td>near $75\u201376<\/strong><\/td>Around four-month low, eased macro headwinds for India.<\/td><\/tr>
                  WTI crude<\/td>near $72<\/strong><\/td>Fell more than 1%, supportive for trade deficit and CPI.<\/td><\/tr>
                  USD\/INR<\/strong><\/td>around 94.85<\/strong><\/td>Rupee slipped 9 paise in early trade, later stabilised.<\/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
                  • Brent’s decline below $77<\/strong> per barrel reduced import cost pressures for India.<\/li>\n\n\n\n
                  • Market participants cited ongoing US Iran talks and easing Gulf shipping constraints as oil drivers.<\/li>\n\n\n\n
                  • Expectations of a historic India US trade deal<\/strong> also supported sentiment.<\/li>\n<\/ul>\n\n\n\n
                      \n
                    • “This excessive volatility in semiconductor stocks and markets like South Korea and Taiwan is favourable to India, which is growing at a steady pace” said VK Vijayakumar, Chief Investment Strategist, Geojit Investments.<\/li>\n<\/ul>\n\n\n\n
                        \n
                      • RBI Governor Sanjay Malhotra signalled that discussions of rate hikes were “premature” at this stage.<\/li>\n\n\n\n
                      • He said the central bank does not yet see inflation generalising, and stance remains neutral.<\/li>\n<\/ul>\n\n\n\n

                        Flows, volatility and sector rotation<\/h2>\n\n\n\n
                        Statistic<\/strong><\/th>Value \/ Change<\/strong><\/th>Context<\/strong><\/th><\/tr><\/thead>
                        FPI equity flows (Tuesday)<\/td>\u20b917.86 crore<\/strong> net buy<\/td>Foreign selling has tapered, occasional buying emerging.<\/td><\/tr>
                        FPI equity flows (recent)<\/td>small net buying streak<\/td>Third consecutive session of net purchases cited.<\/td><\/tr>
                        India VIX<\/td>around 13.6\u201313.7<\/strong><\/td>Fell nearly 2\u20133%, signalling calmer near-term expectations.<\/td><\/tr>
                        Nifty IT weight in Nifty 50<\/td>below 7.6%<\/strong><\/td>Record low share, reflects prolonged IT underperformance.<\/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
                        • Foreign investors have sold about $29.84 billion<\/strong> of Indian equities so far this year, per recent data.<\/li>\n\n\n\n
                        • Lower crude prices, rupee stabilisation and policy steps to attract inflows have moderated outflows.<\/li>\n\n\n\n
                        • Traders also pointed to a revival in monsoon activity and expectations of better earnings as medium-term supports.<\/li>\n<\/ul>\n\n\n\n
                            \n
                          • Technology is now the fifth-largest sector in the Nifty 50 by weight, behind financials, consumer discretionary, energy and industrials.<\/li>\n\n\n\n
                          • The combined weight of five major IT exporters in Nifty has dropped from over 20 percent at their early-2000s peak to below 7.6 percent<\/strong>.<\/li>\n<\/ul>\n\n\n\n
                              \n
                            • “As IT stocks lose value, their weightings in major indexes have also shrunk, reducing the amount of money they receive from the growing number of passive funds” according to data compiled by Bloomberg.<\/li>\n<\/ul>\n\n\n\n

                              Banking and defence in focus<\/h2>\n\n\n\n
                                \n
                              • Srivastava expects banking<\/strong> to be among the best performing sectors over the coming year.<\/li>\n\n\n\n
                              • He cites a catch-up phase after private banks lagged the broader market in the previous cycle.<\/li>\n\n\n\n
                              • He does not anticipate significant weakness in financials in the next leg of growth.<\/li>\n<\/ul>\n\n\n\n
                                  \n
                                • On defence<\/strong>, he views the recent two-day pullback in the Nifty Defence Index as a pause.<\/li>\n\n\n\n
                                • He projects the index heading towards 10,700\u201310,800<\/strong> in the coming weeks.<\/li>\n\n\n\n
                                • He characterises the space as “buy on dips” and highlighted Garden Reach Shipbuilders & Engineers (GRSE)<\/strong> as a preferred pick for his clients.<\/li>\n<\/ul>\n\n\n\n
                                    \n
                                  • “The Nifty Defence Index should be headed towards 10,700\u201310,800 in the coming weeks, so it would be a buy on dips as of now” said Rohit Srivastava.<\/li>\n<\/ul>\n\n\n\n

                                    FAQs<\/h2>\n\n\n\n

                                    Q: What key levels should traders watch on the Nifty in the near term?<\/strong><\/p>\n\n\n\n

                                      \n
                                    • Immediate support is around 23,780\u201323,800<\/strong>, with deeper support near 23,600<\/strong> if that breaks.<\/li>\n\n\n\n
                                    • On the upside, resistance lies in the 24,100\u201324,150<\/strong> band, then the 25,000<\/strong> zone if momentum sustains.<\/li>\n<\/ul>\n\n\n\n

                                      Q: Which sectors are expected to lead the next leg of the market rally?<\/strong><\/p>\n\n\n\n

                                        \n
                                      • Analysts highlight banking<\/strong> and defence<\/strong> as likely leaders, given improving financials momentum and continued defence order visibility.<\/li>\n\n\n\n
                                      • IT is seeing selective interest after valuation corrections, but structural concerns around AI remain.<\/li>\n<\/ul>\n\n\n\n

                                        Q: How are global factors influencing Indian equities currently?<\/strong><\/p>\n\n\n\n

                                          \n
                                        • Volatility in global tech and semiconductor stocks is driving risk sentiment, but India has been relatively resilient.<\/li>\n\n\n\n
                                        • Lower crude prices, prospects of an India US trade deal and a stable rupee are providing macro support.<\/li>\n\n\n\n
                                        • Expectations that the RBI will avoid premature rate hikes are also underpinning domestic risk appetite.<\/li>\n<\/ul>\n\n\n\n

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

                                          What key levels should traders watch on the Nifty in the near term?<\/h3>\n\n\n\n

                                          Immediate support is around 23,780\u201323,800, with deeper support near 23,600, while resistance lies in the 24,100\u201324,150 band and then the 25,000 zone if momentum sustains.<\/p>\n\n\n\n

                                          Which sectors are expected to lead the next leg of the market rally?<\/h3>\n\n\n\n

                                          Analysts highlight banking and defence as likely leaders, given improving financials momentum and continued defence order visibility, while IT is seeing selective interest after valuation corrections.<\/p>\n\n\n\n

                                          How are global factors influencing Indian equities currently?<\/h3>\n\n\n\n

                                          Volatility in global tech and semiconductor stocks is shaping risk sentiment, but lower crude prices, prospects of an India US trade deal, a stable rupee and expectations of no imminent RBI rate hikes are supporting Indian equities.<\/p>\n","protected":false},"excerpt":{"rendered":"

                                          Indian equities rebounded sharply on Wednesday, with the Nifty 50 reclaiming the 24,050 mark after gaining about 235 points intraday and the Sensex rising more than 900 points, as buying in banking and IT stocks combined with softer crude prices and easing rate-hike fears. Traders cited short covering in index heavyweights, expectations that the Reserve […]<\/p>\n","protected":false},"author":15,"featured_media":15347,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_ayudawp_aiss_exclude":false,"_ayudawp_aiss_summary":"Indian equities rebounded sharply on Wednesday, with the Nifty 50 reclaiming the 24,050 mark after gaining about 235 points intraday and the Sensex rising more than 900 points, as buying in banking and IT stocks combined with softer crude prices and easing rate-hike fears. \"The Nifty Defence Index should be headed towards 10,700\u201310,800 in the coming weeks, so it would be a buy on dips as of now\" said Rohit Srivastava. Volatility in global tech and semiconductor stocks is shaping risk sentiment, but lower crude prices, prospects of an India US trade deal, a stable rupee and expectations of no imminent RBI rate hikes are supporting Indian equities.","_ayudawp_aiss_summary_provider":"extractive","_ayudawp_aiss_summary_hash":"a214bc379baa33205a2d2d11beec07f579e21787","footnotes":""},"categories":[512],"tags":[],"class_list":["post-15346","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-gains-banks-it-rebound-2026-06-24-banner.png",1200,640,false],"thumbnail":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nifty-gains-banks-it-rebound-2026-06-24-banner-150x150.png",150,150,true],"medium":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nifty-gains-banks-it-rebound-2026-06-24-banner-300x160.png",300,160,true],"medium_large":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nifty-gains-banks-it-rebound-2026-06-24-banner-768x410.png",768,410,true],"large":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nifty-gains-banks-it-rebound-2026-06-24-banner-1024x546.png",1024,546,true],"1536x1536":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nifty-gains-banks-it-rebound-2026-06-24-banner.png",1200,640,false],"2048x2048":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nifty-gains-banks-it-rebound-2026-06-24-banner.png",1200,640,false],"web-stories-poster-portrait":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nifty-gains-banks-it-rebound-2026-06-24-banner-640x640.png",640,640,true],"web-stories-publisher-logo":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nifty-gains-banks-it-rebound-2026-06-24-banner-96x96.png",96,96,true],"web-stories-thumbnail":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nifty-gains-banks-it-rebound-2026-06-24-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 rebounded sharply on Wednesday, with the Nifty 50 reclaiming the 24,050 mark after gaining about 235 points intraday and the Sensex rising more than 900 points, as buying in banking and IT stocks combined with softer crude prices and easing rate-hike fears. Traders cited short covering in index heavyweights, expectations that the Reserve…","_links":{"self":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/15346","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=15346"}],"version-history":[{"count":1,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/15346\/revisions"}],"predecessor-version":[{"id":15348,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/15346\/revisions\/15348"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media\/15347"}],"wp:attachment":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media?parent=15346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/categories?post=15346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/tags?post=15346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}