Sensex Gains 263 Points, Nifty Crosses 25,200 Amid Consolidation

The BSE Sensex was up 263 points at 82,654, gaining 0.32 per cent, while the NSE Nifty50 rose 108 points to reach 25,212, up 0.43 per cent.

Market Update at 12:30 PM: Equity benchmark indices Sensex and Nifty were trading in the green today amid ongoing consolidation in domestic markets. The BSE Sensex was up 263 points at 82,654, gaining 0.32 per cent, while the NSE Nifty50 rose 108 points to reach 25,212, up 0.43 per cent.

Among the Top Gainers on the Sensex were M&M, Reliance Industries, UltraTech Cement, Bajaj Finserv, and NTPC. On the losing side, stocks like Power Grid, Titan, Adani Ports (mentioned twice), and Maruti Suzuki saw declines.

In the broader markets, the Nifty MidCap index traded marginally higher with a 0.06 per cent gain, while the Nifty SmallCap edged up by 0.11 per cent.

Sector-wise, Nifty Auto, Metal, and Realty indices led the gains, each advancing over 0.5 per cent. The Nifty FMCG index, however, was the biggest sectoral laggard, slipping 0.34 per cent.

Market Update at 10:20 AM: India’s benchmark indices saw modest gains on Wednesday, mirroring the positive momentum in Asian markets amid encouraging developments in trade negotiations between the U.S. and key partners, including India and China. As of 9:52 a.m. IST, the Nifty 50 edged up 0.15 per cent to 25,140.95, while the BSE Sensex also rose 0.15 per cent to 82,513.24.

Out of the 13 major sectors, seven were in the green. Broader indices such as Small-Caps and Mid-Caps advanced by around 0.2 per cent each. However, financial stocks, which had recently hit record highs, continued their decline, falling 0.3 per cent and extending their two-day drop to 0.7 per cent.

Reliance Industries, the third-largest constituent on the Nifty 50, supported the index with a gain of 1.7 per cent. Across Asia, markets opened higher, with the MSCI Asia ex-Japan index rising 0.6 per cent following reported progress in U.S.-China trade discussions in London, awaiting leadership approval.

In New Delhi, Indian and U.S. trade negotiators also advanced talks focused on areas like tariffs, agriculture, and industrial goods, as per government sources. According to Aditya Khemka of InCred Asset Management, investors are cautiously optimistic, though some profit booking is expected due to stretched valuations.

Texmaco Rail & Engineering climbed 2.5 per cent after securing orders worth ₹440.4 million. On the downside, liquor stocks slipped, with United Spirits and Radico Khaitan falling 5 per cent and 1 per cent, respectively, after Maharashtra increased excise duties to boost state revenues.

Pre-Market Update at 8:00 AM: Indian equity markets are expected to open higher on Wednesday, June 11. At 7:31 AM, GIFT Nifty hovered near 25,185, indicating a gain of 40 points from its previous close. Asian equities were trading in the green, while U.S. futures held firm during early Asia hours, as investors awaited updates on trade negotiations and the U.S. inflation data for May.

Domestic Institutional Investors (DIIs) continued to show consistent interest, marking their 16th straight session of net buying in Indian markets. On June 10, Foreign Institutional Investors (FIIs) made net purchases worth Rs 2,301.87 crore, while DIIs bought shares valued at Rs 1,113.34 crore.

On Tuesday, broader markets outperformed. The Mid-cap and Small-cap segments extended gains, whereas headline indices moved in a narrow range. The Nifty 50 ended marginally higher, but the BSE Sensex closed down by 53 points at 82,391. Bank Nifty also slipped 210 points, ending at 56,629.

Asian indices are expected to start on a strong footing, following Wall Street’s gains. Optimism around the U.S.-China trade dialogue helped fuel positive sentiment. U.S. Commerce Secretary Howard Lutnick stated that the trade talks were moving forward “really, really well.”

U.S. markets closed higher on Tuesday, supported by gains in Tesla and improved sentiment around trade relations. The Dow rose 0.25 per cent to 42,866.87, the S&P 500 gained 0.55 per cent to close at 6,038.0, and the Nasdaq climbed 0.66 per cent to 21,941.92. Reports from London suggested renewed tensions, but progress was evident as China approved some rare earth exports and resumed Boeing deliveries.

The U.S. dollar remained firm against global currencies, buoyed by positive developments in the U.S.-China trade deal. Early Asian trading saw a slight dip in the greenback after earlier strength.

Gold edged lower on Tuesday as optimism about global trade reduced demand for safe-haven assets. A stronger dollar also weighed on prices. Spot gold was down 0.1 per cent at USD 3,324.55 per ounce, while U.S. gold futures settled 0.3 per cent lower at USD 3,343.40.

Crude prices eased in early Wednesday trading. Uncertainty over China's demand and rising supply from OPEC+ contributed to the weakness. Brent crude slipped 24 cents to USD 66.63 a barrel, while WTI fell 21 cents to USD 64.77.

For today, Manappuram, ABFRL, Chambal Fertilisers, IREDA, RBL Bank and Titagarh continue to remain under the F&O ban list.

Disclaimer: The article is for informational purposes only and not investment advice.