Markets held steady in mid-session trade on Monday, June 22, with the Sensex up 368.39 points or 0.48 per cent at 77,171.29 and the Nifty 50 gaining 108.65 points or 0.45 per cent to trade at 24,121.75 as of 12:57 pm. Markets have broadly sustained the gap-up opening from the morning session, though the Nifty has been trading sideways within a tight range since then, testing its 100-day exponential moving average for the second time in three sessions.
Breadth on the BSE remained decidedly positive. Of 4,440 stocks traded, 2,601 advanced against 1,619 declines, with 220 unchanged. A total of 196 stocks hit 52-week highs against 54 touching 52-week lows, while 256 stocks were locked in upper circuits compared to 178 in lower circuits — pointing to broad-based buying interest across the market.
Cipla continued its strong run, emerging as the top gainer on the Nifty 50, surging 4.49 per cent to ₹1,412.50 on heavy volumes of over 20.44 lakh shares. Dr. Reddy’s Laboratories rose 2.03 per cent to ₹1,297.90, reinforcing strength in the pharma space. Infosys gained 1.53 per cent to ₹1,067.50, with volumes crossing 54.36 lakh shares worth ₹57,918.82 lakhs, as IT stocks continued to recover from last week’s underperformance. Tata Motors — listed as TMPV — climbed 1.50 per cent to ₹364.90, while Reliance Industries advanced 1.48 per cent to ₹1,328.90 on volumes of over 90.94 lakh shares valued at ₹1,21,459.25 lakhs, making it one of the most actively traded counters on the index.
On the losing side, Shriram Finance was the top laggard, falling 1.32 per cent to ₹988.65, slipping below the ₹1,000 psychological mark. Asian Paints declined 1.26 per cent to ₹2,698.40, while Titan dropped 1.07 per cent to ₹4,372.80. Power Grid Corporation slid 0.98 per cent to ₹289.40, extending its losses from the morning session, and Max Healthcare fell 0.85 per cent to ₹1,085.40.
On the commodities front, crude oil continues to trade at $75–$76 per barrel on international markets, providing macroeconomic relief for India. MCX Crude Oil, however, opened with a gap-up near ₹7,400 before pulling back to trade near the ₹7,150 zone. US Oil opened near $78 before settling in the $75–$76 range. MCX Gold opened with a gap-down near ₹1,46,000 before recovering toward the ₹1,48,000–₹1,48,400 zone. COMEX Silver is trading with a weak undertone below the $66 mark, while MCX Silver opened with a gap-up near ₹2,37,000, with traders watching the ₹2,40,000 level for a confirmation of momentum. The rupee is trading in a tight band of ₹94.30–₹94.35 against the dollar, with bearish momentum on the pair showing signs of moderation.
According to SBI Securities, the Nifty’s advance-decline ratio stands at 38:12, reflecting broad market participation on the buy side. The index faces resistance in the 24,260–24,280 zone, and a breakout above 24,280 could extend gains toward 24,450. On the downside, 24,010–24,030 remains the immediate support band, with the next cushion placed at 23,860–23,900. For the Sensex, support is at 76,900 and resistance at 77,700. On the options front, meaningful call writing has been observed at the 24,200 and 24,300 strikes, while the 24,100 and 24,000 put strikes carry substantial open interest, suggesting traders are positioning for the index to hold above current levels through the remainder of the session.