Market Wrap, June 25: NIFTY50 settles above 25,000, SENSEX jumps 700 points on positive global cues; smallcap stocks outshine

The Indian stock market closed positive for the second consecutive session following the global cues on Wednesday, June 24, as the truce between Iran and Israel remained on hold.

On the broader market, the small-cap index outperformed the main equity benchmark indices, while the mid-cap index also advanced.

Rallying in the IT, media and consumer durables counters also added to the market optimism.

According to exchange data, on Tuesday, the foreign institutional investors (FIIs) sold equities worth ₹5,266.01 crore on a net basis, while the domestic institutional investors (DIIs) purchased ₹5,209.60 crore worth of equities.

On the global front, most of the stocks in the Asian market settled in green on easing geopolitical tensions.

Hong Kong's Hang Seng gained 1.22% to end at the 24,474.67 level, while the Shanghai Composite closed 1.02% higher at the 3,455.97 level. South Korea’s Kospi advanced 0.15% to settle at the 3,108.25 level.

Japan's Nikkei 225 was seen at the 38,942.07 level, rising 0.39%, while Singapore's Straits Times rose 0.55% to end at the 3,925.98 level.

On Wall Street, the stocks ended with sharp gains after oil prices eased further on hopes that Israel’s war with Iran will not damage the global flow of crude.

The Dow Jones Industrial Average gained 507.24 points, or 1.19%, to end at 43,089.02 levels, and the S&P 500 jumped 67.01 points, or 1.11%, to close at 6,092.18. The Nasdaq Composite settled at 19,912.53 levels, surging 281.56 points, or 1.43%.

As many as 2,990 stocks traded on the NSE on Wednesday. Out of this, 2,135 advanced and 776 stocks declined, while 79 scrips remained unchanged.

This indicated that the market breadth was in favour of positive.

A total of 51 stocks hit their 52-week highs, while 23 stocks touched their one-year lows. Besides, 106 stocks hit their upper circuit limits, and 45 touched their lower circuit bands on Wednesday.

NSE-listed firms' market capitalisation stood at ₹451.67 lakh crore at the end of the session.

India VIX, the volatility gauge, stood at 12.96 levels, declining 4.98%.

Titan was the most contributing stock on the index, jumping 3.66%, followed by Mahindra & Mahindra (2.16%), Grasim Industries (2.13%), Infosys (1.95%) and JSW Steel (1.75%).

On the other hand, Bharat Electronics (-2.92%), Kotak Mahindra Bank (-1.29%), Eicher Motors (-0.93%), ONGC (-0.87%) and Axis Bank (-0.84%) were the top losers on the 50-share index.

The Nifty Smallcap 100 index surged 1.49% to end at 18,727.85 levels, while the Nifty Midcap 100 index closed 0.44% higher at 58,881.7 levels.

Except for Nifty Private Bank (-0.03%), all the other sectors settled with gains on Wednesday. Nifty Media (1.99), Nifty IT (1.64%), Nifty Consumer Durables (1.43%), Nifty Auto (0.97%) and Nifty FMCG (0.74%) were the top winners among sectors.