The Indian stock market rebounded on Monday, with the Sensex and Nifty rising nearly 0.4% each, after losing momentum on Friday following a five-session-long bull run. The Sensex gained over 291 points to close at 77,094, while the Nifty 50 rose around 90 points to end the session near 24,103. Broader markets also closed in the green, with the Nifty Smallcap 100 index rising 0.6%, while the Nifty Midcap 100 index gained 0.34%.
Here's how analysts read the market pulse
The market traded within a narrow range, albeit with a positive bias, as investors continued to assess the progress of US-Iran negotiations, said Vinod Nair, Head of Research at Geojit Investments.
Overall sentiment remained constructive, supported by outperformance in utilities, banking, and healthcare sectors, he added. “This strength was largely driven by a more selective, sector- and stock-specific investment approach. However, concerns around the slow progress of the monsoon could lead to inflationary pressures, potentially impacting consumer sentiment and demand in agriculture-linked segments. While this may moderate near-term momentum, the broader outlook remains favourable, supported by a resilient earnings trajectory and continued policy backing, which underpin a constructive medium-term view,” according to the analyst.
European market
European shares ended higher on Monday as investors weighed developments in U.S.-Iran negotiations for indications that tensions could ease and shipping through the Strait of Hormuz may resume smoothly. The pan-European STOXX 600 index gained 0.6%, recovering after two consecutive sessions of losses. Banking stocks led the advance, with Barclays, NatWest and Standard Chartered posting solid gains, lifting the broader banking index by 1.4%. Market sentiment was also influenced by British Prime Minister Keir Starmer’s resignation, which is expected to trigger an orderly leadership transition within the Labour Party in the coming weeks.
US market
U.S. stocks traded mixed on Monday as Wall Street returned from a long weekend, with investors assessing renewed diplomatic engagement between the United States and Iran. While the Dow gained around 130 points, weakness in technology shares dragged the Nasdaq down 1% and pushed the S&P 500 modestly lower, leaving it about 1.7% below its recent record high. Oil prices also eased after U.S. Vice President JD Vance said weekend talks with Iran had laid a “good foundation” for a potential agreement.
Tech view
The Nifty remained largely range-bound during the session, with an underlying positive bias as it continued to sustain above its critical moving averages, said Rupak De, Senior Technical Analyst at LKP Securities. “The RSI remains in a bullish crossover, indicating that the positive momentum is still intact. Going forward, the trend is likely to remain positive, although the pace of the upmove may remain sluggish. On the higher end, 24,200 is expected to act as an immediate resistance; a decisive move above this level could trigger a rally towards 24,500. On the downside, support is placed at 24,000. A breach below this level could drag the index towards 23,800. Volatility is likely to remain elevated during tomorrow's weekly expiry session, although the overall trading range may remain relatively narrow,” he added.
Most active stocks in terms of turnover
HDFC Bank (Rs 1,982 crore), Reliance Industries (Rs 1,724 crore), New India Assurance (Rs 1,724 crore), Himadri Speciality (Rs 1,620 crore), Infosys (Rs 1,087 crore), BSE (Rs 999 crore) and TCS (Rs 975 crore) were among the most active stocks on NSE in value terms. Higher activity in a counter in value terms can help identify the counters with the highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 25.86 crore), Yes Bank (Traded shares: 14.22 crore), JP Power (Traded shares: 11.21 crore), Ola Electric (Traded shares: 9.25 crore), IDBI Bank (Traded shares: 8.38 crore), New India Assurance (Traded shares: 8.09 crore), and Suzlon Energy (Traded shares: 7.07 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Kirloskar Oil, Triveni Turbine, Kirloskar Bros., Poly Medicure, Inox India, Aegis Logistics and IDBI Bank were among the stocks that witnessed strong buying interest from market participants.
52-week high
Among the ones which hit their 52-week highs on NSE included Kirloskar Oil, Inox India, Aegis Logistics, Delhivery, New India Assurance, Aditya Birla Capital and Tata Communications.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Reliance Infra, Gujarat Gas, Aadhar Housing Finance, Varun Beverages, Five-Star Business Finance, Sumitomo Chemical and Craftsman Automation.
52-week low
Among the ones that hit their 52-week lows on NSE included Bayer Cropsciences.
Sentiment meter favours bulls
Out of the 3,401 stocks that traded on the NSE on Monday, June 22, 2,149 stocks witnessed advances, 1,206 saw declines, while 100 stocks remained unchanged.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
