Date: Wednesday, June 24, 2026 | Close Time: 4:00 PM IST | Source: Business Standard, Trading Economics, Zerodha Pulse, Trendlyne
Indian markets staged a sharp recovery on Wednesday, June 24, 2026, bouncing back from Tuesday’s 893-point Sensex selloff. IT stocks rebounded strongly, banking and financial shares advanced nearly 2%, and a crucial RBI policy tweak on FCNR deposits gave markets an additional boost.
📊 Market Close — June 24, 2026
| BSE Sensex | 76,991.22 (+790.54 pts, +1.04%) ✅ |
| NSE Nifty 50 | 24,021.65 (+197.55 pts, +0.83%) ✅ |
| Nifty MidCap 100 | +0.10% — resilient |
| Nifty SmallCap 100 | +0.39% |
| Nifty IT | +2%+ — top performing sector |
| Nifty Realty | +2%+ — strong recovery |
| Nifty Bank | +~2% — banks lead recovery |
| Nifty Financial Services | +~2% |
| Intraday Peak (3:00 PM) | Sensex 77,056.52 (+855 pts) | Nifty 24,044.10 |
🚀 Top Nifty Gainers — June 24
- Tech Mahindra: +3.22% — IT rebound leader
- Bajaj Finance: +2.87% — NBFC strength
- IndusInd Bank: +2.63% — banking rally
- ICICI Bank, HDFC Bank, Axis Bank, Kotak Bank: +up to 2.7%
- InterGlobe Aviation (IndiGo): Top Nifty50 gainer — oil price fall tailwind
- Adani Enterprises: Top gainer in Nifty50
- Trent: Top gainer in Nifty50
- CreditAccess Grameen: +5–8% (NBFC/MFI theme)
- Mahindra Finance: +5–8%
- Cholamandalam Finance: +5–8%
- KPR Mill: +12.6% | Roto: +8.5% | JSW Infrastructure: +4.4%
📉 Laggards Today
- NTPC: Down — power sector under pressure
- Tata Steel: Down — metals weak
- Maruti Suzuki: Down — auto sector caution
- IRFC: -5.13% to ₹93.60 (OFS floor price ₹91 weighing on stock)
- Vedanta: -6% from intraday peak after Twin Star Holdings sold ₹1,896 crore via block deal at ₹291.36/share
🏦 RBI’s Big Move: FCNR Loans for Non-Resident Indians
The Reserve Bank of India announced that banks can now extend loans to non-resident Indians (NRIs) against their Foreign Currency Non-Resident (FCNR-B) deposits. This eases funding constraints for NRIs and injects liquidity into the banking system. RBI Governor Sanjay Malhotra also said it was “too early to discuss rate hikes” — a dovish signal that immediately lifted bank stocks.
📰 Today’s Key Corporate Events
- 🚂 IRFC OFS opened June 24 — Floor price ₹91/share. Non-retail investors subscribed 1.86x on Day 1. Green shoe option exercised. Retail investors can bid June 25.
- 🚗 Bajaj Auto Ex-Buyback Date: Shares traded ex-buyback for ₹5,633 crore repurchase
- 🏗️ Shankara Buildpro & Wheels India: Ex-dividend today
- 📱 Honasa Consumer (Mamaearth): Acquired 58% majority stake in Fluence Pharma for ₹135 crore — entry into nutraceuticals
- 🏙️ City Union Bank: Board approved ₹500 crore fundraise via QIP
- ✈️ Raymond: In talks to acquire Germany-based Deharde
🌍 Global & Macro Cues
- Crude Oil (Brent): ~$83/barrel — easing supports India’s import bill
- US Markets (Tue): S&P 500 and Nasdaq dipped; Dow edged up — Alphabet under AI spending scrutiny
- JPMorgan downgrade: HCL Tech, Wipro, Tata Tech downgraded — AI disruption concerns cited
- Monsoon deficit: Running ~43% below average so far in June — key risk for agriculture and rural demand
- FII (June 23): Bought just ₹17.86 crore | DII bought ₹680.21 crore — domestic institutions active
🔭 Technical Outlook — Nifty
“Nifty ended positively, extending recovery after strong buying at the 23,800 support zone. The 24,100 region is immediate resistance. A breakout above 24,100 targets 24,200, then 24,400.” — Ponmudi R, CEO, Enrich Money (SEBI-registered)
- Support: 23,800 (held strongly today) | 23,500
- Resistance: 24,100 (immediate) | 24,400 (key upside target)
- Trend: Recovering — but watch F&O expiry and US Fed signals
📋 Today’s Key Rates
- USD/INR: ~₹95.20 (rupee stable on falling crude)
- Gold (22K): ₹13,665/gm | Silver: ₹2,60,000/kg
- Petrol (Delhi): ₹111.18/L | Diesel: ₹97.83/L
- Brent Crude: ~$83/barrel
Sources: Business Standard, Trading Economics, Zerodha Pulse, Trendlyne, Upstox, BusinessToday, DIPAM. Published June 24, 2026. Not investment advice.
