The domestic equity benchmarks ended with minor gains today, supported by broad-based buying and easing geopolitical concerns, even as reports of a ceasefire violation by Iran surfaced.
PSU bank, metal, and private bank stocks advanced, while media and oil & gas shares saw a dip. The Nifty settled above the 25,000 level.
As per provisional closing data, the barometer index, the S&P BSE Sensex, added 158.32 points or 0.19% to 82,055.11. The Nifty 50 index rose 72.45 points or 0.29% to 25,044.35.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.54% and the S&P BSE Small-Cap index added 0.71%.
The market breadth was strong. On the BSE, 2,669 shares rose and 1,337 shares fell. A total of 138 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.88% to 13.64.
IPO Update:
The initial public offer (IPO) of Globe Civil Projects received bids for 6,76,67,700 shares as against 1,17,32,392 shares on offer, according to stock exchange data at 15:20 IST on Tuesday (24 June 2025). The issue was subscribed 5.77 times.
The issue opened for bidding on Tuesday (24 June 2025) and it will close on Thursday (26 June 2025). The price band of the IPO is fixed between Rs 67 and 71 per share. An investor can bid for a minimum of 10 equity shares and in multiples thereof.
The initial public offer (IPO) of Ellenbarrie Industrial Gases received bids for 9,20,819 shares as against 1,51,08,983 shares on offer, according to stock exchange data at 15:20 IST on Tuesday (24 June 2025). The issue was subscribed 0.06 times.
The issue opened for bidding Tuesday (24 June 2025) and it will close on Thursday (26 June 2025). The price band of the IPO is fixed between Rs 380 and 400 per share. An investor can bid for a minimum of 37 equity shares and in multiples thereof.
The initial public offer (IPO) of Kalpataru received bids for 16,97,756 shares as against 2,28,26,516 shares on offer, according to stock exchange data at 15:20 IST on on Tuesday (24 June 2025). The issue was subscribed 0.07 times.
The issue opened for bidding on Tuesday (24 June 2025) and it will close on Thursday (26 June 2025). The price band of the IPO is fixed between Rs 387 and 414 per share. An investor can bid for a minimum of 38 equity shares and in multiples thereof.
Buzzing Index:
The Nifty PSU Bank index added 1.46% to 6,939.10. The index shed 0.08% in previous trading session.
Union Bank of India (up 2.95%), Canara Bank (up 2.58%), Bank of Maharashtra (up 1.91%), Indian Overseas Bank (up 1.89%), Bank of Baroda (up 1.69%), UCO Bank (up 1.61%), Punjab & Sind Bank (up 1.56%), Punjab National Bank (up 1.33%), Indian Bank (up 0.9%) and Bank of India (up 0.74%) added.
Stocks in Spotlight:
Bondada Engineering hit an upper limit of 5% after the company secured a Letter of Award from Tamil Nadu Green Energy Corporation (TNGECL) for a 400 MWh Battery Energy Storage Systems (BESS) project in Vellalaviduthi and Thennampatty.
Ugro Capital advanced 5.60% after the company announced the elevation of Anuj Pandey as its new chief executive officer, effective 1 July 2025.
Gland Pharma rose 1.43% after the company announced that it has received an Establishment Inspection Report (EIR) from the U.S. Food and Drug Administration (USFDA), indicating the closure of the inspection at its Visakhapatnam facility.
Enviro Infra Engineers zoomed 10.74% after the company announced that it has bagged two key solar power projects aggregating to 69 MW (AC) capacity, marking its strategic foray into the renewables sector.
Mahindra Lifespace Developers rose 0.96%. The company announced the launch of its redeveloped residential project Mahindra 'Codename64’ in Malad (West), Mumbai.
Astec Lifesciences jumped 7.42% after the company announced that its board has approved raising up to Rs 250 crore through a rights issue of fully paid-up equity shares.
Garware Technical Fibres jumped 5.49% after the company's wholly owned UK-based subsidiary Garware Technical Fibres UK entered into a definitive share purchase agreement (SPA) to acquire Norway-based Offshore & Trawl Supply AS (OTS).
Global Markets:
US Dow Jones futures jumped 296 points, pointing to a strong open for Wall Street.
European stocks edged higher, and Asian markets soared on Tuesday, buoyed by President Donald Trump’s claim of a ceasefire between Iran and Israel, though the agreement has yet to be officially confirmed by either nation.
Overnight in the US, all three major indices closed higher as investor nerves eased following Iran’s relatively muted response to the US airstrikes over the weekend. The Dow gained 0.89%, the S&P 500 rose 0.96%, and the Nasdaq advanced 0.94%.
Tesla shares surged over 8%, leading the Nasdaq's gains, after the company launched its long-awaited Robotaxi service in Austin, Texas.
Sentiment also got a boost from Fed Governor Michelle Bowman, who signaled that a rate cut could be on the table at July's meeting, provided inflation and labor market data remain supportive. Speaking in Prague, Bowman also downplayed the inflationary impact of Trump's proposed tariff wave, calling it temporary. All eyes now turn to Fed Chair Jerome Powell, who begins two days of testimony before Congress starting Tuesday.