Stock Market Highlights, June 27: Nifty hits 24,000 on June F&O expiry day; Sensex rises 567 pts

Stock Market Highlights on Thursday, June 27, 2024: The BSE Sensex topped the 79,000-mark for the first time on Thursday, touching an all-time high of 79,396. The Nifty50 hit a record high of 24,087

3:57 PM

Nifty @ 24k :: MARKET COMMENT :: Ajit Mishra – SVP, Research, Religare Broking

The markets traded positively for the fourth consecutive session, gaining over half a percent, continuing the current uptrend. After a flat start, the Nifty edged higher amid volatility and crossed the new milestone of 24,000. Most sectors aligned with this movement, with IT and energy among the top gainers.

Meanwhile, broader indices showed mixed results, as midcap stocks closed in the green while smallcap stocks lost over half a percent.

 

The rotational buying across key sectors is contributing to the index's steady rise, and we expect this trend to continue. Following the banking sector, we anticipate that IT and FMCG will play crucial roles in maintaining the positive momentum.

With the Nifty crossing the 24,000 mark, we see potential for it to test 24,500, with support around the 23,600 level. Participants should align their positions accordingly and look for buying opportunities on dips.

3:53 PM

COMMENT :: Shrikant Chouhan, Head Equity Research, Kotak Securities

We are of the view that the larger texture of the market is bullish but due to temporary overbought conditions; however, there could be some profit booking at higher levels. For the Nifty, 23920/78600 would act as a key support zone, while 24150 -24200/79400-79600 could be the immediate resistance zone for the bulls.

Shrikant Chouhan, Kotak

3:49 PM

COMMENT :: Shilpa Rout, AVP - Derivatives Research, Prabhudas Lilladher

NIFTY saw overall gains of 6% in the June F&O series. The option chain indicates that 24,000 call writers are very active for the July series monthly expiry, with weekly expiry focusing on the 24,000/25,000 strikes.

Put writers for the monthly expiry show support at the 23,000 strike, while the weekly expiry indicates immediate support at the 23,500 strike. Therefore, the market outlook suggests buying on dips until the 23,600 level, aiming for extended targets up to 24,300

Illustration: Binay Sinha

3:46 PM

Broader markets :: SmallCap index stays muted despite overall bullish trend

3:44 PM

Sectoral trends :: IT index rises 2%, PSU Bank falls 0.9%

3:40 PM

Sensex Heatmap :: 22 of 30 index stocks rally

3:39 PM

Closing Bell :: Nifty ends above 24,000

3:38 PM

Closing Bell :: Sensex soars over 550 pts, ends at fresh record closing high

3:20 PM

ALERT :: Nifty surpasses 24,050

3:15 PM

How NBFCs are back in the reckoning

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3:03 PM

Genesys International surges 9% after inking pact with NNG for auto solutions

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2:52 PM

Quant Mutual's clients pull $168 million in three days after Sebi probe

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2:41 PM

ALERT:: BSE SmallCap index down nearly 1%; IIFL Sec, Deepak Fertilisers tank 7%

2:33 PM

CSB Bank soars 7% after promoter likely sells 1.70 cr shares via block deal

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2:21 PM

Foreigners buy India debt on eve of index inclusion, indicators signal

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2:12 PM

Route Mobile soars 15%, hits 29-month high as Microsoft, Proximus sign pact

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2:02 PM

ALERT:: BSE MidCap index slips into red; Indian Hotels, AU SFB weigh

1:55 PM

Vraj Iron and Steel IPO Day 2: Subscription status, GMP, Should you apply?

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1:44 PM

This railway related stock has zoomed 91% from its June 5 low

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1:33 PM

Sebi considers sweeping changes to disclosure, listing requirements

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1:22 PM

ITD Cementation hits 52-week high on bagging contract worth Rs 1082 cr

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1:11 PM

Groww files for Nifty EV & New Age Automotive FOF with SEBI

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1:01 PM

700% surge in just 6 months: 25 SME stocks double in 2024; sell or hold?

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12:55 PM

ALERT :: Microsoft, Proximus Group sign strategic partnership

>> Microsoft and Proximus Group have formally signed a 5-year strategic partnership, allowing both companies to strengthen their digital lead and accelerate their innovative offerings to business and residential customers in Belgium and abroad.

>> Both Proximus and Microsoft will reinforce their leadership positions thanks to this partnership.

>> Microsoft will strengthen its use of the best-in-class products of Proximus' international affiliates BICS, Telesign and Route Mobile, while Proximus will benefit from Microsoft's Azure Cloud, leveraging all innovative AI & Data evolutions.
 

12:46 PM

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12:36 PM

IIFL Sec shares slump as former consultant Sanjiv Bhasin faces SEBI probe

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12:29 PM

ALERT :: Top contributors towards benchmarks' rally today, June 27

12:18 PM

ALERT :: Nifty tops 24,000, second fastest 1,000-point rally

>> Adds 1,000 points in 23 sessions

12:16 PM

ALERT :: New record highs for Sensex again!

12:12 PM

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