Stock Market Highlights: Markets extend gains; Sensex rises 736 pts, Nifty ends above 23,850
Stock Market Highlights: Indian equity benchmarks ended higher for a second consecutive session on June 15, supported by improving global sentiment after the US and Iran confirmed a deal to end the conflict. The Sensex rose 736 points to 76,264, while the Nifty gained 231 points to close at 23,854, though both indices came off their intraday highs.
The Sensex advanced 736 points to close at 76,264, while the NSE Nifty 50 gained 231 points to settle at 23,854. The Nifty Bank index rose 384 points to 57,199 and the Nifty Midcap index outperformed with a gain of 782 points to end at 61,550.
Market breadth remained firmly positive, with the NSE advance-decline ratio at 4:1. Fourteen Nifty constituents rose more than 2%, with Larsen & Toubro, Reliance Industries, Mahindra & Mahindra and Maruti Suzuki among the biggest contributors to the benchmark’s gains. The Nifty IT index snapped its eight-session losing streak, led by a nearly 3% rise in Coforge.
Among individual stocks, Phoenix Mills climbed 6% after Macquarie initiated coverage with an ‘Outperform’ rating, while GMR Airports gained 3% following a similar rating from the brokerage. SEPC surged over 7% after receiving a letter of award from SAIL for a project worth Rs 673 crore. RBL Bank added 2% after appointing Bhavin Lakhpatwala as its chief financial officer.
On the sectoral front, realty and auto emerged as the top-performing indices, while the pharma index ended lower. Downstream oil marketing companies gained as Brent crude prices fell more than 5%, whereas upstream oil producers came under pressure. The rupee strengthened to a one-month high against the US dollar during the session.
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