Market snapshot
Equities: Wednesday close
Indian markets recovered after opening lower. The Nifty 50 opened with a gap down of 28 points at 23,796. It then recovered through the session and closed at 24,021.65, up 197.55 points, or 0.83%. The day's high was close to 24,090.
The Sensex closed at 76,991.22, up 790.54 points, or 1.04%. Bank Nifty closed at 58,150.35, up 966.6 points, or 1.69%. India VIX fell 3.95% to 13.39, showing that expected near-term volatility declined.
Broader markets also moved up, but the rise was more moderate. The Nifty 100 rose 0.68%, the Nifty 200 rose 0.56%, and the Nifty 500 rose 0.50%. The Nifty Next 50 was almost flat, down 0.01%. Midcap 150 rose 0.08%, while Smallcap 250 rose 0.21%.
Market breadth in the Nifty 500 was positive but not very strong. There were 263 advancing stocks and 235 declining stocks, giving an advance-decline ratio of 1.12.
| Index | LTP | Day change |
|---|---|---|
| Nifty 50 | 24,021.65 | +0.83% |
| Sensex | 76,991.22 | +1.04% |
| Bank Nifty | 58,150.35 | +1.69% |
| Nifty Next 50 | 72,060.50 | −0.01% |
| Nifty 100 | 25,075.95 | +0.68% |
| Nifty 200 | 13,889.45 | +0.56% |
| Nifty 500 | 23,126.30 | +0.50% |
| Midcap Select | 14,516.40 | +0.24% |
| Midcap 150 | 22,872.50 | +0.08% |
| Smallcap 250 | 17,784.65 | +0.21% |
| India VIX | 13.39 | −3.95% |
Zerodha AfterMarket Report; 24 June 2026 close.
Sectors
Realty, IT, and banking led the sector move. Nifty Realty rose 2.17%, Nifty IT rose 2.05%, and Nifty Bank rose 1.69%. Energy, Auto, and Metal were the weaker sectors. Nifty Energy fell 0.89%, Nifty Auto fell 0.42%, and Nifty Metal fell 0.40%.
Zerodha AfterMarket Report; 24 June 2026 close.
F&O gainers and losers
OFSS, EXIDEIND, and INDIGO led the F&O gainers, while IRFC, GVT&D, and POWERINDIA led the losers.
Zerodha AfterMarket Report; 24 June 2026 close.
Commodities and currency
MCX front-month futures were lower across most metals and energy contracts as of the 24 June report time. Gold fell 1.69%, silver fell 1.39%, and crude oil fell 1.94%. Natural gas was the exception, rising 0.92%.
Zerodha AfterMarket Report; 24 June 2026 close.
The rupee appreciated by 21 paise to settle at 94.55 against the US dollar. It opened at 94.88 and traded in a 94.59 to 94.93 range. Falling global crude prices, positive domestic equities, and FII inflows helped the rupee.
The Dollar Index was at 101.63, up 0.23%. Government bond-yield data was not part of the source set. For the latest G-sec yields, the source referred to NSE and CCIL portals.
| Currency indicator | Level |
|---|---|
| USD/INR spot | 94.55 |
| EUR/INR | 107.43 |
| GBP/INR | 124.73 |
| Dollar Index | 101.63 |
Mint; Zerodha AfterMarket Report; 24 June 2026 close.
Institutional flows
FIIs were small net buyers. They bought ₹15,396 crore and sold ₹15,378 crore, giving a net purchase of ₹18 crore. DIIs were stronger net buyers. They bought ₹16,863 crore and sold ₹16,183 crore, giving a net purchase of ₹680 crore. Combined institutional flows were positive at ₹698 crore.
Zerodha AfterMarket Report; 24 June 2026 close.
Macro view: Growth, monsoon, and trade
S&P sees FY27 GDP growth at 6.6%
S&P Global Ratings said India's GDP growth is expected to slow to 6.6% in the current fiscal year. It cited energy stress, a sub-par monsoon, and slowing global growth as the main pressures.
India's economy grew 7.7% in 2025-26 and 7.1% in 2024-25. S&P's FY27 projection is in line with the RBI's estimate of 6.6%.
El Niño has weakened monsoon rains. By 22 June, the rainfall deficit had widened to 43%. A weak monsoon can affect agriculture, rural demand, food prices, and overall growth.
Mint; S&P Global; 25 June 2026.
India-US trade talks progress
India and the US reported “substantial progress” in trade talks. The two sides discussed pathways to an interim pact, which would move them toward a broader trade agreement.
US Census Bureau data cited by the commerce ministry showed that US goods trade with India reached an estimated $149.4 billion in 2025. US exports to India were $45.6 billion, while US imports from India were $103.8 billion. This gave the US a goods trade deficit of $58.2 billion with India.
Mint; US Census Bureau; 25 June 2026.
Commerce minister Piyush Goyal will visit the UK from 25 to 27 June. This comes before the India-UK CETA and Double Contribution Convention come into force on 15 July.
Mint; 25 June 2026.
Ethanol blending saves foreign exchange
India saved ₹1.4 trillion in foreign exchange through the Ethanol Blending Programme, according to the Petroleum Ministry. The savings came from lower crude oil imports.
Mint; S&P Global; 25 June 2026.
Macro view: Fiscal and structural policy
SASCI capex scheme overhauled
The Centre is changing its ₹2 trillion SASCI loan scheme for state capital expenditure. States and Union Territories have been asked to limit proposals to a maximum of five self-selected sectors in FY27.
The scheme is moving from post-pandemic higher spending toward outcome-based spending. The 50-year, interest-free loans were first designed as a support mechanism for states in FY21.
₹70,000 crore allocated under Part-I
Under Part-I for FY27, the scheme has an outlay of ₹75,000 crore. The Centre has allocated ₹70,000 crore based largely on the 16th Finance Commission devolution formula.
Assistance will be released in two tranches. The first 66% will be released after states meet the required conditions. The remaining 34% will be linked to utilisation.
The Centre has also set aside ₹10,000 crore under Part-II for states' share of centrally sponsored schemes, and ₹25,000 crore under Part-III as capex incentives.
The Economic Survey 2025-26 said the scheme helped states maintain capex at around 2.4% of GDP. An April SBI Research report said it helped raise state capex from 2.2% of GDP in FY22 to 2.7% in FY25 revised estimates. This was helped by about ₹4.5 trillion in interest-free loans over five years.
Mint; 25 June 2026.
Satellite and shipbuilding rules
The government notified the Telecommunications (Authorisation for Provision of Principal Telecommunication Services) Rules, 2026. The rules removed a proposed 20% local sourcing requirement for satellite broadband operators such as Starlink, Eutelsat OneWeb, and Amazon Leo. At the same time, the rules tightened security and anti-fraud requirements.
Separately, the ₹70,000-crore shipbuilding package has created demand visibility for around 437 vessels. Cochin Shipyard has secured a CMA CGM export order for six feeder vessels of around 1,700 TEU each. Mazagon Dock has received a ₹330 crore order from Shipping Corporation of India for a methanol dual-fuel platform supply vessel.
Mint; 25 June 2026.
Macro view: Banking and financial system
RBI issues digital-fraud compensation rules
The RBI issued guidelines for compensation in digital-payment fraud cases. Banks must compensate digital-payment users for up to 85% of the transaction value within five days of the scam being identified or confirmed. This benefit will be available once in a customer's lifetime.
For losses up to ₹50,000, compensation will be up to 85% of the net loss or ₹25,000, whichever is lower.
The rules will take effect on 1 January 2027. They will apply to electronic banking transactions on or after 1 July 2026.
Mint; RBI; 25 June 2026.
RBI proposes AI and ML model-risk oversight
The RBI proposed rules requiring banks to strengthen oversight of risks linked to AI and machine-learning models. The proposed rules require board-approved policies, stronger controls, and model inventories.
A model inventory is a structured list of the models used by a bank. It helps the bank track where models are used, who owns them, and what risks they create.
Mint; RBI; 25 June 2026.
Public sector banks conduct stressed-asset auctions
India's 12 public sector banks conducted 272,208 stressed-asset auctions through the Baanknet platform between 1 July 2024 and 30 April 2026.
Only 26,493 auctions drew bids. Banks resolved 14.74% of the cases that attracted bids and recovered ₹30,046 crore. Canara Bank recorded the highest recovery at ₹7,061 crore.
Mint; RBI; 25 June 2026.
Corporate action and earnings
| Company or action | Detail |
|---|---|
| Bank funding | Banks raised over ₹1 trillion through certificates of deposit in the fortnight ended 15 June. This was the highest mobilisation since the March-end period. Lower borrowing costs helped the fund-raising. Credit growth continues to outpace deposit growth by more than 500 basis points. |
| Eternal and Swiggy | Shares were under pressure after Amazon announced plans to build India's largest “delivery in minutes” network. Amazon plans to expand Amazon Now to more than 300 cities and towns. |
| Axis Bank | Axis Bank raised $800 million through a dual-tranche US dollar bond issuance under its GMTN programme. This included $500 million of perpetual AT1 bonds priced at a 6.875% coupon, and $300 million of senior unsecured notes. |
| IRFC | IRFC fell nearly 6% after the government announced an Offer for Sale to divest a 1% stake, with a greenshoe option for an additional 1%. The floor price was set at ₹91 per share, with up to 26.1 crore shares on offer. The OFS was subscribed 1.86 times on the first day. The government decided to exercise the greenshoe option and expects to raise about ₹2,379 crore. |
| Adani Group | Adani Group accounted for a third of all private capital expenditure in India in FY26, with capex of more than ₹1.5 trillion, chairperson Gautam Adani said at the Adani Enterprises AGM. Adani Power unveiled a plan to invest over ₹2 trillion to expand power generation capacity to 45 GW over five years. It is also entering nuclear energy through Adani Atomic Energy, with a target of 10 GW of nuclear capacity by 2035. |
| Trent | Trent rose nearly 4% after Chairman Noel Tata said at the FY26 AGM that the company remains in the early stages of its growth journey. India's retail sector recorded 5% year-on-year sales growth in May, lower than April. West India performed better, with 6% growth. |
| Jio Platforms and NSE | Jio Platforms plans a fresh issue of 270 million equity shares. It plans to use up to ₹27,500 crore to prepay borrowings of Reliance Jio Infocomm. The IPO could raise about ₹35,000 crore, potentially making it India's largest public issue. NSE plans an entirely Offer-for-Sale issue of up to 148.9 million shares, estimated at about ₹30,000 crore. |
| EXLService and iMerit | EXLService Holdings agreed to acquire California-based AI data firm iMerit for $310 million. This includes $170 million upfront and $140 million in earnouts. The transaction is expected to close in Q3 2026. |
| MUFG Bank | MUFG Bank will consolidate its Ganesha Fund's operations with Dragon Funds and consider a second fund targeting $600 million. In April, MUFG completed a 20% stake purchase worth ₹39,618 crore, or $4.4 billion, in Shriram Finance. |
Mint; Zerodha; 25 June 2026.
Corporate briefs: Indigo Paints, Pine Labs, and Nirav Modi
Indigo Paints said it will prioritise growth over profitability. The company is willing to accept a possible 2 to 2.5 percentage-point drop in gross margin. In FY26, it reported a gross margin of 46.9% and an Ebitda margin of 18.1%. Its decorative-paints market share was 2% to 3%.
Actis sold a little over 2% in Pine Labs for ₹371 crore. It sold more than 2.39 crore shares, equal to a 2.08% stake, at an average price of ₹155.17. Axis Mutual Fund purchased a 0.84% stake.
A UK court held diamantaire Nirav Modi personally liable for a debt of more than $10.7 million owed to Bank of India under a 2013 personal guarantee.
Mint; 25 June 2026.
Upcoming events
Corporate actions
The following corporate actions are listed by ex-date.
| Company or security | Action | Ex-date |
|---|---|---|
| WHEELS | Dividend, ₹9.14 | 24 Jun |
| KOTYARK | Bonus | 24 Jun |
| BUILDPRO | Dividend, ₹5 | 24 Jun |
| ZFCVINDIA | Bonus | 24 Jun |
| BAJAJ-AUTO | Buyback | 24 Jun |
| ANTHEM | Dividend, ₹2 | 25 Jun |
| ALKYLAMINE | Dividend, ₹10 | 25 Jun |
| ABDL | Dividend, ₹5.40 | 25 Jun |
| 679GS2029 | Interest payment | 25 Jun |
| GICHSGFIN | Dividend, ₹4.50 | 25 Jun |
Zerodha; Mint; 25 June 2026.
Economic calendar
The following are scheduled releases and policy decisions, not confirmed outcomes.
Zerodha; Mint; 25 June 2026.
Global pulse
Global indices
US markets closed lower in the prior session, with the Nasdaq down 2.21% and the S&P 500 down 1.44%. European markets were mixed. Asian markets were also mixed, with KOSPI rising 3.26% while Nikkei 225 fell 0.88%.
Mint Global; Zerodha; 25 June 2026.
Crude and US-Iran developments
Crude oil fell below $72 per barrel, its lowest level since early March. Rising tanker traffic through the Strait of Hormuz and continued progress in US-Iran peace talks reduced supply concerns.
Iran called the deal to end the Middle East war “a declaration of America's defeat” as US Secretary of State Marco Rubio toured the Gulf. The war began with US-Israeli strikes on Iran on 28 February. The US and Iran signed the agreement last week.
President Donald Trump said Iran would be able to use funds released from frozen accounts only to buy food and medical supplies from the US. Iran disputed this claim. The Republican-led Senate voted Tuesday to end the US war with Iran. The vote was a symbolic rebuke. Iran has insisted that $12 billion of its frozen funds are set to be released.
Minerals, chips, and currencies
China is restricting shipments of some critical minerals to Japan. It has stopped nearly all supplies of some forms of tungsten this year, which is putting pressure on Prime Minister Sanae Takaichi.
Tokyo joined a G7 pledge to reduce reliance on any one country for rare earths to no more than 60% by 2030.
SK Hynix plans to raise up to 45.45 trillion won, or $29.4 billion, through a Nasdaq listing of ADRs. It will issue 17.79 million new shares to expand AI-chip capacity.
The offshore yuan weakened to around 6.80 per US dollar, its lowest level in a month. Markets were pricing roughly a 70% probability of a Federal Reserve rate hike in September.
The Bank of Japan signalled continued support for further rate hikes. It noted that its policy rate is below an estimated neutral rate of around 2%.
Global brief
Alibaba sued the US government, seeking removal from a Pentagon blacklist known as the “1260H list”.
France is working to restore power to thousands of homes in its northern regions after a transformer incident during a heatwave.
Mint Global; Zerodha; 25 June 2026.
Management chatter
Verbatim comments from company management and policymakers, as carried in the source reports.
“AI will not replace a company like ours. It will amplify those who move with purpose and adapt with speed. More than three years after GenAI was launched, Infosys is more relevant than ever before... The AI revolution has made legacy modernization urgent in a way nothing else has.”Nandan Nilekani, Chairman, Infosys.
Zerodha.
“If it was so certain that we are going to hike (the repo rate) in the coming months, then we would have changed the stance from neutral to restrictive. We did not do that... So I think it will be premature to talk about a rate hike. What we have said is that we are cautious.”Sanjay Malhotra, Governor, RBI.
Zerodha.
“We're not one of those software companies who will lose its business model just because a foundational model may automate and replicate certain features... that does not mean that the core software infrastructure can be simply replaced by algorithms.”Rajiv Ramaswami, CEO, Nutanix.
Mint.
The day at a glance
| Indicator | Reading |
|---|---|
| Nifty 50 | 24,021.65, up 0.83% |
| BSE Sensex | 76,991.22, up 1.04% |
| Bank Nifty | 58,150.35, up 1.69% |
| India VIX | 13.39, down 3.95% |
| Nifty Realty (top sector) | up 2.17% |
| Nifty Energy (weakest) | down 0.89% |
| Gold, MCX | ₹1,44,049, down 1.69% |
| Crude, MCX | ₹6,829, down 1.94% |
| USD/INR spot | 94.55, up 21 paise |
| FII net | +₹18 crore |
| DII net | +₹680 crore |
| Combined net | +₹698 crore |
| S&P FY27 GDP forecast | 6.6% |
| Monsoon rainfall deficit | 43% below normal, by 22 June |
| Ethanol blending FX saving | ₹1.4 trillion |
Zerodha AfterMarket Report, 24 June 2026 close; Mint, 25 June 2026; Investopedia.
Closing thought
“The four most expensive words in the English language are 'this time it's different.'”John Templeton
Compiled from: Zerodha AfterMarket Report, 24 June 2026 close; Mint, Mumbai edition, 25 June 2026; and Investopedia, Alan Greenspan feature. DayStarter by Devraj is a news aggregation for finance students and professionals. This is not investment advice. Markets data reflects Wednesday, 24 June 2026 close. Market data sourced via NSE, BSE and MCX.