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Informist, Monday, Jun. 16, 2025

By Simran Rede

MUMBAI – The benchmark indices closed sharply higher Monday, recovering from a slow start as investors covered their short positions in the latter part of the session. Analysts had said the market was oversold in the previous two sessions as per the technical charts. Despite the sharp rise, the indices could not recoup all the losses seen in the past two sessions, with the Nifty 50 still nearly 200 points lower than its closing price Wednesday.

The domestic market ended in positive territory despite the conflict between Israel and Iran escalating with Tehran launching a fresh wave of missiles on Israel early Monday. Despite rising over 1% early Monday, the Brent Crude futures contract for August moderated a bit at the time the Indian markets closed and was 0.8% lower at $73.61 per barrel.

The Nifty 50 closed 227.90 points, or 0.9%, higher at 24946.50 points. The 50-stock index managed to close above 24900 points, which was seen as a crucial resistance level by analysts. The BSE Sensex closed 677.55 points, or 0.8%, higher at 81796.15 points. Both benchmark indices closed higher after ending in the red for two consecutive sessions following the Air India plane crash Thursday and the escalating conflict in West Asia.

Among the broader market indices, the Nifty Midcap 50 closed 0.9% higher and snapped a four-session fall, while other mid- and small-cap indices closed 0.5-1.1% higher to break a three-session losing streak. The uncertainty in the market cooled a bit after two straight sessions of broad-based selling. The India VIX, which is the fear gauge of Dalal Street, closed at 14.8375, down 1.6%.

On the sectoral front, the Nifty IT was the top gainer with all the constituents of the index closing higher. Mphasis and Persistent Systems were the top gainers, each gaining over 2%. The US-based Oracle had risen nearly 8% to an all-time high on the US bourses Friday after providing a positive forecast for the fiscal year 2026 on robust demand for its artificial intelligence services. This positive forecast came as a boost for Indian IT companies after the uncertainty regarding US tariffs, which has fuelled fears of a slowdown in the US economy and US-based clients potentially cancelling existing IT contracts. Back home, shares of Oracle's subsidiary Oracle Financial Services Software closed 2.2% higher.

Shares of airline SpiceJet closed over 2% lower on the BSE despite its net profit for the March quarter tripling on year. After the company reported its results Saturday, Nuvama Institutional Equities Sunday lowered its target price on the stock by 9% and cut its outlook for earnings before interest, taxes, depreciation, amortisation, and rent by 14% for the financial year 2025-26 (Apr-Mar) and FY27 due to the airline's delayed turnaround.

Tata Motors ended nearly 4% down and was the worst hit in the Nifty 50 after its subsidiary Jaguar Land Rover said its margins will shrink on year in FY26. HBL Engineering closed nearly 3% higher after the company received a large order of INR 1.33 billion late Saturday from South Central Railway to provide the railway anti-collision protection system Kavach. Cipla ended up 1.5% after ICICI Securities upgraded the stock to 'buy' from 'add' and raised its target price by 10% to INR 1,800.

PI Industries closed over 4% higher and was among the top gainers in the Nifty 200 after Morgan Stanley upgraded the stock to 'overweight' from 'equalweight' and raised its target price by 42% to INR 5,000.

* Of the Nifty 50 stocks, 46 rose and 4 fell 

* Of the Sensex stocks, 27 rose and 3 fell

* On the NSE, 1,483 stocks rose, 1,448 fell, and 90 were unchanged

* On the BSE, 1,976 stocks rose, 2,108 fell, and 169 were unchanged

* Nifty IT: up 1.6%; Nifty Realty: up 1.3%; Nifty Auto: up 0.2%

BSE                                               NSE

Sensex: 81796.15, up 677.55 points or 0.8%      Nifty 50: 24946.50, up 227.90 points or 0.9%

End

Edited by Rajeev Pai

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