Ambuja Expansion, SBI Cards Growth, Adani Ports Rallies, Market Observation
Indian equity markets closed in positive territory on June 24, as investor sentiment improved following a tentative ceasefire between Iran and Israel. The BSE Sensex advanced 158.32 points or 0.19% to settle at 82,055.11, while the NIFTY 50 rose 72.45 points around 0.29% to finish at 25,044.35 before closing of market. The Nifty Bank index outperformed, gaining 0.72%, closing at 56,461.90 high.
Stock Market Indices Performance
| Nifty 50 | 25044.35 | 0.29% |
| Sensex | 82055.11 | 0.19% |
| Nifty Bank | 56461.90 | 0.72% |
| Nifty Financial Services | 26750.40 | 0.73% |
| Nifty MidCap | 13147.85 | 0.88% |
Nifty Chart
Technical Outlook
On a closing basis, bulls managed to post gains for the day. However, considering the intraday price action, the inability to sustain higher levels was very disappointing, reflecting how bulls failed to capitalize on the early lead. Going forward, tomorrow the 25,200–25,300 zone may continue to act as resistance, not only due to the wedge formation but also because it coincides with the 78.6% retracement ratio of the fall from all-time highs. On the downside, 24,950 followed by 24,800 would be the immediate support levels.
News/Updates
The Defence Ministry has signed 13 contracts worth Rs 1,981.90 crore under the Emergency Procurement route. This aims to boost the Indian Army’s counter-terrorism capabilities by procuring drones, radars, air defence systems and protective gears.
The National Housing Bank (NHB) has tightened rules for refinancing home loans in under-construction properties. Loans will only be refinanced if less than 50% of the construction is complete.
Vodafone Idea : Up around 5% on possible govt relief for ₹84,000 crore dues and Telecom Minister’s supportive comments.
KPIT Tech : Dropped 6% due to an uncertain outlook, despite plans to boost growth through full acquisition of Caresoft’s engineering unit.
SBI Cards : Rose 3% following an increase in market share to 17.1% in May, with monthly spends growing 10.1%, ahead of industry growth.
Heavy Industries Ministry launched an online portal for its EV manufacturing scheme to attract global players and support India’s EV self-reliance goal.
Enviro Infra Engineers : It Surged 12% after winning ₹306 crore in new projects and entering the renewable energy sector with a 69 MW solar acquisition.
Trending Stocks
Adani Ports +3.70% – (ADANIPORTS) shares rallied on the back of robust cargo volume growth updates and optimism surrounding the easing of Middle East tensions, which has reduced concerns over global supply chain disruptions.
Jio Financial Services +3.65% – (JIOFIN) advanced following reports of a potential strategic partnership with a leading fintech expert, aimed at expanding its digital lending portfolio more widely. Market sentiment was also boosted by expectations of regulatory approval for some new product launches.
Cochin Shipyard: company subsidiary, Hooghly Cochin Shipyard, won a Rs 100-250 crore order from Antara River Cruises to build 2 luxury cruise vessels for the Brahmaputra river.
Ambuja Cements – Adds 2.4 MTPA brownfield capacity at West Bengal plant under ongoing capex plan.
LT Foods – Rally 9% on volume spike 6x above weekly average, showing strong buying interest.
Top 5 Gainers and Losers
| COMPANY | PRICE | %GAIN |
| Hyundai Motor India | 2071.40 | +3.59% |
| Ambuja Cements | 554.20 | +3.48% |
| Siemens Energy India | 2706.40 | +3.46% |
| Adani Green Energy | 987.30 | +2.79% |
| Jio Financial Services | 300.80 | +2.61% |
Top 5 Losers
| COMPANY | PRICE | %LOSS |
| OIL & Natural Gas Corp. | 243.92 | -2.97% |
| Hindustan Aeronautics | 4886.50 | -2.82% |
| Avenue Supermarts | 4250.60 | -1.97% |
| Power Grid Corporation | 285.95 | -1.48% |
| DIVI’S Labs | 6565.50 | -1.06% |
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