Synopsis : Indian equity markets staged a strong comeback on June 12, with the Sensex surging nearly 800 points and the Nifty reclaiming the 23,300 mark. Positive global cues, easing crude oil prices, and strength across midcap and smallcap stocks helped fuel the rally.
After a cautious start to the day, Indian stock markets witnessed robust buying interest across sectors, pushing benchmark indices sharply higher in afternoon trade.
At around 12:30 PM, the BSE Sensex was up 797 points, or 1.08%, at 74,630, while the NSE Nifty 50 gained 203 points, or 0.88%, to trade above the crucial 23,300 level at 23,365.
Broad-Based Rally Supports Markets
The positive momentum was not limited to large-cap stocks. Broader markets also joined the rally, with the Nifty Midcap 100 advancing over 1.2% to trade above 60,000.
Investors appeared encouraged by falling crude oil prices and improving global risk sentiment after signs of easing geopolitical tensions in West Asia.
Top Gainers on Nifty
Several heavyweight stocks led the market higher:
- IndiGo surged over 3.3%
- Eternal gained 2.3%
- Bajaj Finance rose 2%
- Titan advanced more than 2%
- Larsen & Toubro climbed nearly 2%
IT Stocks Remain Under Pressure
While most sectors traded in the green, select technology counters continued to face selling pressure.
Among the laggards:
- Tech Mahindra declined 1.75%
- Power Grid slipped 0.92%
- HCLTech remained marginally lower
What Is Driving Market Sentiment?
A major trigger for today's rally was the sharp decline in crude oil prices.
Brent crude slipped below the psychologically important $90-per-barrel mark, easing concerns around inflation and India's import bill. Markets also reacted positively to reports suggesting potential progress in US-Iran negotiations.
Meanwhile, global equities remained firm as investors awaited the historic listing of SpaceX on Nasdaq, expected to become one of the largest IPOs in market history.
Global Markets Add Support
Asian markets traded sharply higher:
- Japan's Nikkei gained over 3%
- South Korea's Kospi surged 7%
- Hong Kong futures pointed to positive momentum
Wall Street also ended strongly overnight, with the Nasdaq gaining more than 2.5% as technology stocks rebounded.
FIIs Continue Selling, DIIs Remain Supportive
Despite the rally, foreign institutional investors (FIIs) remained net sellers, offloading equities worth ₹1,987 crore in the previous session.
Domestic institutional investors (DIIs), however, continued to provide support by purchasing shares worth ₹4,224 crore.
What Investors Should Watch
Going forward, market participants will closely monitor:
- Crude oil price movement
- Global geopolitical developments
- FII fund flows
- SpaceX's historic Nasdaq debut
- US inflation and interest rate outlook
With benchmark indices regaining momentum and broader markets participating in the upmove, investors will be watching whether the Nifty can sustain above the 23,300 level and extend gains in the coming sessions.
Disclaimer : This article is for informational and educational purposes only and should not be considered investment advice. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.
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