Broad-based buying lifts markets; smallcaps, IT, consumer durables outpace

Business Standard

5 hours ago

Shares of information technology and consumer durables-related companies were outperforming the benchmarks as Indian equity indices BSE Sensex and NSE Nifty continued their northward trend for the second consecutive session on Wednesday, June 25. In the broader markets, it was small-cap shares that witnessed heavy buying interest, with the Nifty Smallcap100 index outpacing the benchmarks.
Last checked, the BSE Sensex was trading at 82,637.31, higher by 582.20 points or 0.71 per cent. The index has traded in the range of 82,675.91–82,339.57 so far on Wednesday.
Barring Bharat Electronics (down 1.5 per cent), Kotak Mahindra Bank (down 0.59 per cent), Axis Bank (0.27 per cent), and ICICI Bank (0.08 per cent), all other 26 constituent stocks of the Sensex were trading higher, led by Titan, Tech Mahindra, Infosys, Reliance Industries, and Power Grid Corporation, which were rallying in the range of 1.39–3.03 per cent during intra-day trade on Wednesday.
Mirroring Sensex, the NSE Nifty50 was trading higher by 164.65 points or 0.66 per cent at 25,209. The 50-share index has fluctuated in the range of 25,220.50–25,125.05 today.
For the Nifty50 index, a crucial hurdle, Hardik Matalia, derivative analyst at Choice Broking, said, is placed in the 25,200–25,300 range. Sustaining above this zone, he believes, could attract fresh buying interest and lead to further gains.
"Given the current global backdrop and intraday volatility, traders are advised to remain cautious, avoid large overnight positions, and maintain strict stop-loss levels to manage risk effectively," said Matalia. On the lower side, the immediate support for the Nifty is placed at the 25,000 level, with stronger support seen around the 24,800 zone. "A breach below these levels may trigger cautious sentiment among traders."
Smallcap shares outperform
Among the broader markets, the Nifty Smallcap100 index outperformed other benchmarks, trading higher by 1.59 per cent. Top gainers were Multi Commodity Exchange of India (MCX), Welspun Living, and IndiaMART InterMESH, all rising over 6 per cent.
At the same time, the Nifty Midcap100 index was trading higher by 0.41 per cent, led by Aditya Birla Fashion, Kalyan Jewellers, Vodafone Idea, and SJVN—all gaining over 3 per cent.
IT, consumer durables rally
Among sectoral indices on the NSE, Nifty Consumer Durables and IT indices outperformed others, trading higher by 1.49 per cent and 1.29 per cent, respectively. In consumer durables, Kalyan Jewellers (up 3.59 per cent) and Titan Company (3.29 per cent) were top gainers, while in IT, LTIMindtree (2.08 per cent) and Mphasis (1.82 per cent) led the gains.
Barring the Nifty Private Bank index, which traded with a loss of merely 0.06 per cent, all the other sectoral indices on the NSE were ruling higher during intra-day trade on Wednesday.
Market breadth remains positive
Market breadth remained positive, with 2,053 out of 2,734 stocks trading higher, 601 trading lower, and 80 unchanged on the NSE. As many as 42 stocks were quoting at 52-week highs on the NSE, while 19 touched 52-week lows. The number of stocks hitting the upper circuit rose to 74, while 28 were hitting their lower circuit limits.
The market cap of the total listed companies on the NSE stood at ₹5.20 trillion.
Meanwhile, the India VIX, which gauges volatility in the markets, traded lower by 3.13 per cent at 13.22 points.