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Informist, Friday, Jun. 20, 2025

By Gopika Balasubramanium

MUMBAI – India's headline equity indices closed sharply higher Friday after three consecutive sessions of losses. Market participants said the surge was most likely on account of inflows from foreign investors. Softening crude oil prices also likely drove the indices higher. Market participants see the many initial public offerings lined up next week driving further foreign fund inflows into the country.

The Nifty 50 ended at 25112.40 points, up 319.15 points or 1.3%. The 50-stock index closed above 25000 points after six sessions. The index had faced strong resistance at 25000 points, analysts said. Though there are concerns regarding expensive valuations of large-cap stocks, analysts said foreign investors are likely to invest in India as it is a safer bet as compared to other markets. Buying was seen in index heavyweights such as HDFC Bank, Reliance Industries, and ICICI Bank, which together have a weightage of nearly 31% on the Nifty 50. The BSE Sensex closed at 82408.17 points, up 1046.30 points or 1.3%.

All mid- and small-cap indices also rose sharply Friday, with the mid-cap indices outperforming the benchmarks. The Nifty Midcap 50 ended 1.6% higher and the Nifty Midcap 100 and Nifty Midcap 150 ended 1.5% and 1.3% higher, respectively. The Nifty Smallcap 250, the Nifty Smallcap 200, and Nifty Smallcap 50 ended 0.6-1.2% higher. All sectoral indices also closed higher.

Among Nifty 50 constituents, Jio Financial Services, Bharti Airtel, and Trent were the top gainers and closed 3-4% higher. Jio Financial Services rose after falling for three consecutive sessions. The stock fell 4% in this period. Bharti Airtel rose for the third straight session. It has gained over 5% in this period.

Only four constituents--Dr. Reddy's Laboratories, Maruti Suzuki India, Hero MotoCorp, and Bajaj Auto--closed in the red Friday. Dr. Reddy's ended marginally lower after falling in five of the past six sessions. Bank of America maintained a 'buy' rating on the stock and hiked the target price by more than 3% to INR 1,500. However, the bank said it sees announcements of tariffs on pharmaceutical imports to the US as a near-term risk to the stock.

Automobile stocks Maruti Suzuki, Hero MotoCorp, and Bajaj Auto closed 0.2%, 1%, and 1.5% lower, respectively, amid concerns relating to the supply of rare-earth magnets. Maruti Suzuki Chairman R.C. Bhargava said in an interview with Business Standard that the company has stock of essential rare earths only till end of July and is looking for alternatives for the same.

Among sectoral indices, Nifty Realty was the top gainer and ended 2.1% higher, snapping a three-day losing run. The index had fallen 3% in the past three sessions. Nifty Infrastructure, Nifty PSU Bank, Nifty Financial Services, and Nifty Bank also ended 1.2-1.7% higher.

Among other stocks, Sun TV Network recovered from sharp intraday losses and closed 1% lower after the company clarified that news reports about certain matters between the company's promoter and his brother were incorrect. Waaree Energies closed 11% higher on media reports of likely inclusion of the stock in the upcoming FTSE global index rejig, which may attract an inflow of $49 million. The stock had underperformed recently, falling 7% since the end of May on concerns of potential cuts in solar and wind energy incentives in the US. 

Shares of Oswal Pumps ended 2% higher after listing on the NSE at INR 634, a premium of 3.3% to the issue price of INR 614. The initial public offering of Oswal Pumps, which closed Tuesday, was subscribed 34.4 times. Siemens and Siemens Energy ended 2.2% and 3.4% lower, respectively, after Bank of America said the company and its offshoot were trading at expensive valuations.

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

* Of the Sensex stocks, 29 rose and one unchanged

* On the NSE, 1,976 stocks rose, 963 fell, and 79 were unchanged

* On the BSE, 959 stocks rose, 2,108 fell, and 169 were unchanged

* Nifty Realty: up 2.1%; Nifty Infrastructure: up 1.7%; Nifty Media: up 0.4%

BSE                                               NSE

Sensex: 82408.17, up 1046.30 points or 1.3%       Nifty 50: 25112.40, up 319.15 points or 1.3%

End

Edited by Rajeev Pai

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