The equity benchmark indices extended their winning streak for the fifth consecutive session on Thursday (June 18), with the Sensex rising 254.36 points or 0.33% to close at 77,409.98 and the Nifty gaining 82.30 points or 0.34% to settle at 24,168.00. According to provisional closing data from Business Standard, in the five consecutive trading sessions, the Sensex jumped 4.85% and Nifty climbed 4.35%. The broader market outperformed with the BSE 150 MidCap Index gaining 0.41% and the BSE 250 SmallCap Index adding 0.67%. Market breadth remained strong with 2,419 shares advancing while 1,814 declined on the BSE. As per Zee News, market sentiment improved in the latter half of the trading session, helping benchmark indices recover and end in positive territory.
The Nifty Bank index outperformed the broader market with 11 of its 14 constituents ending higher, as reported by CNBC TV18. Strength in banking stocks helped support benchmark indices throughout the trading session. From the Sensex basket, Adani Ports, InterGlobe Aviation, Trent, NTPC, Bharat Electronics Limited, HDFC Bank and State Bank of India emerged as the major gainers, helping benchmark indices end the day in the green. However, Infosys Ltd, Tata Consumer Products Ltd, Maruti Suzuki India Ltd, Hindustan Aeronautics Ltd, Coal India Ltd and Tata Consultancy Services Ltd were the biggest laggards. According to Zee News, buying interest in public sector banks provided support to the broader market. State Bank of India gained 1.56% after the bank's Central Board approved a proposal to raise up to ₹60,000 crore during FY27 through the issuance of debt instruments in Indian rupees or foreign currencies.
The Nifty Healthcare index climbed 0.98% to lead sectoral gains, with the healthcare pack outperforming the broader market. Among the Nifty constituents, Max Healthcare Institute emerged as the top gainer with a 6.46% surge, while HDFC Bank gained 1.74% and State Bank of India added 1.56%. The Nifty Realty and Nifty Consumer Durables indices also outperformed, with the realty sector showing strong momentum. According to ET Now, Utilities led the gains with 1.76% growth, followed by Hospitals at 1.62%, Services at 1.45%, Power at 1.32%, Telecommunication at 1.12%, and Healthcare at 0.92%. However, BSE IT dropped 1.12%, with Focused IT declining 0.92% and Energy remaining marginally weak at 0.16%. The BSE SmallCap Select index went up 0.43% and MidCap Select index climbed 0.33%.
The Nifty IT Index declined 1.19% to 28,466.45 as investors reacted to the US Federal Reserve's inflation outlook and growing expectations that interest rates could remain elevated for longer. As per Business Standard, the index increased 3.68% in the past three trading sessions but faced pressure after the Fed kept interest rates unchanged on Wednesday while signalling continued concerns over inflation. Infosys (down 2.61%), Persistent Systems (down 2.07%), Coforge (down 1.18%), Tech Mahindra (down 0.9%), Wipro (down 0.85%) and Tata Consultancy Services (down 0.81%) were the top losers among IT stocks. The cautious outlook weighed on Indian IT stocks, which derive a significant share of their revenue from North America, with investors worried that elevated interest rates could dampen discretionary technology spending. According to Zee News, information technology stocks remained under pressure, making it the worst-performing sectoral index of the session.
Commenting on Nifty technical outlook, experts said that the 24,200 level now emerges as the immediate resistance. As per Zee News, an analyst noted that a sustained breakout above this level would reinforce bullish momentum and could pave the way for an extension of the rally towards the 24,400 region, which represents the next significant upside target. On the downside, the psychological 24,000 mark is expected to act as an important immediate support level. Holding above this zone will be crucial to preserve the ongoing recovery structure and maintain the positive momentum. However, a decisive break below 24,000 could trigger fresh profit booking and drag the index towards the 23,900 support region. According to ET Now, Hitesh Tailor from Choice Equity Broking noted that the Sensex formed a bullish candle with higher high and higher low structure, reflecting sustained buying interest on declines. He highlighted that the index closed near the day's higher levels at 77,410.00, indicating continued strength, with immediate resistance placed around 77,800–78,000 and support at 76,800–77,000.
The rupee traded stronger by around 16 paise to 94.32, extending its positive trend for the fifth consecutive session. As per Zee News, the rupee remained well supported, with the near-term trading range seen between 94.00 and 94.75. The India Meteorological Department forecasted widespread monsoon rainfall over Mumbai and adjoining parts of Maharashtra by the end of June, indicating a delayed onset of the southwest monsoon in the city where it typically arrives around June 10-11. According to ET Now, Brent crude, the global oil benchmark, dropped 2.23% to USD 77.78 per barrel, providing additional support to market sentiment. The yield on India's 10-year benchmark federal paper declined 0.06% to 6.842 compared with the previous session close of 6.865. In the commodities market, Brent crude for July 2026 settlement declined $1.62 or 2.04% to $77.93 a barrel. The positive momentum was further supported by US President Donald Trump signing a Memorandum of Understanding (MoU) with Iran during a dinner at the Palace of Versailles in France on Wednesday to end the over three-month war.
