📈 Sensex 76,991 | Nifty 24,022 — IT & Banks Rally, RBI FCNR Move, IRFC OFS 1.86x | Market Close June 24, 2026

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

🚀 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.

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