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
 "Stock Market Highlights, June 27: Nifty hits 24,000 on June F&O expiry day; Sensex rises 567 pts")
Closing Bell on Thursday, June 27, 2024: Amid a record breaking rally in the benchmark indices, the BSE Sensex topped the 79,000-mark for the first time on Thursday, touching an all-time high of 79,396. The NSE Nifty50, on the other hand, crossed the 24,000 level, hitting a new record high of 24,087. Today was the expiry of the June F&O series, which the 50-stock index closed with little over 7-per cent rally.
This was the second fastest 1000-point rally in the NSE benchmark which it completed in just 23 sessions.
The Sensex, and Nifty indices, eventually, settled at 79,243, up 569 points or 0.72 per cent, and at 24,045, up 176 points or 0.74 per cent, respectively.
UltraTech Cement, JSW Steel, NTPC, TCS, Infosys, Tech M, Infosys, Kotak Bank, Reliance Industries, Power Grid, Tata Motors, and HUL were the top gainers on the frontline indices, rising up to 5 per cent.
The momentum in the broader markets, however, remained tmixed amid the Quant Mutual Fund fiasco. The BSE MidCap index rose 0.17 per cent, while the BSE SmallCap dropped 0.57 per cent.
Among sectors, the Nifty IT index added 2 per cent, while the Nifty PSU Bank index fell 0.9 per cent.
3:57 PM
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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.
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.
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
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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")
Shrikant Chouhan, Kotak
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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
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
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Topics : MARKETS LIVE stock market trading Markets Sensex Nifty MARKETS TODAY Indian equities Indian stock market NSE Nifty50 benchmark index S&P BSE Sensex BSE stocks Midcap smallcap stocks Nifty Midcap 100 stocks Indian stock exchanges IPOs
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First Published: Jun 27 2024 | 7:07 AM IST
