Indian equity markets held flat on Tuesday, June 23, 2026, as selective pharma and FMCG buying offset a sharp selloff in IT and metal stocks. The Nifty 50 closed near 24,099 while the BSE Sensex settled at 77,124 ā a resilient session given the mixed global backdrop.
š Market Snapshot ā June 23, 2026
- Nifty 50: 24,099 | ā0.01%
- BSE Sensex: 77,124 | +0.04%
- Bank Nifty: 57,446 | ā0.84%
- Nifty IT: 27,113 | ā1.87% š“
- Nifty Pharma: 25,192 | +1.73% š¢ Best sector
- Nifty Metal: 12,871 | ā1.68% š“
- Nifty FMCG: 49,389 | +0.07% š¢
- Nifty Smallcap 100: 18,939 | +0.22% š¢
- India VIX: 17.48 | +4.17% (elevated ā caution)
š Top Nifty Gainers Today
- Cipla: ā¹1,456 | +2.87% ā pharma sector strong buying
- Sun Pharma: ā¹1,897 | +1.81%
- Asian Paints: ā¹2,687 | +1.37%
- Shriram Finance: ā¹1,006 | +1.30%
š Top Nifty Losers Today
- Infosys, TCS ā IT sector selloff continues post-Accenture guidance cut
- Hindalco, Vedanta, Tata Steel ā Metal drag as commodity prices soften
š 3 Reasons Markets Are Flat Today
- US-Iran 60-Day Sanctions Waiver: Announced overnight, easing crude oil below $77/barrel ā a big positive for Indiaās import bill and inflation outlook.
- Delayed Southwest Monsoon: IMDās slow monsoon advancement is a key concern ā could pressure food inflation and rural demand sectors.
- IT Sector Overhang: Accentureās guidance cut from last Friday continues to spook investors in TCS, Infosys and Wipro ā Nifty IT down 1.87%.
š¦ Jio IPO ā The Biggest Market Story
Reliance Jioās DRHP filed June 19 with SEBI remains the weekās dominant theme. Key facts: ā¹35,000 crore fresh issue | $133ā180 billion valuation | 524 million customers | 268.5 million 5G subscribers ā worldās largest 5G base outside China. Brokerages forecast significant post-listing upside. NSE IPO (ā¹25,000 crore) also expected soon.
š° FII DII Data
- FII net bought ā¹4,859 crore on June 19 ā institutional confidence holding
- DII continues to absorb volatility on dips
- RBI cut repo rate by 85 bps between Feb 2025āApril 2026 ā liquidity supportive
š Key Technical Levels ā Nifty & Bank Nifty
| Index | Support 1 | Support 2 | Resistance |
|---|---|---|---|
| Nifty 50 | 23,900ā23,800 | 23,500ā23,600 | 24,600 |
| Bank Nifty | 56,000 | 55,000 | 58,300 ā 59,250 |
Bank Nifty has a bullish 20/50-day EMA crossover ā any dip to 56,000 is a buy for targets 58,300+.
š® Tomorrowās Setup ā June 24, 2026
- Watch US Fed commentary and overnight Wall Street moves
- Crude oil ā any further US-Iran progress below $75 = very bullish for India
- Monsoon IMD update ā watch for revival signals
- Gold at ā¹1,48,510/10g ā easing from highs
- Nifty must hold 23,900 to maintain positive bias
Disclaimer: For informational purposes only. Not investment advice. Consult a SEBI-registered advisor before making investment decisions.
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