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Bulls hold tight grip over Dalal Street
Jun-24-2026

Bulls were holding a tight grip over Dalal Street in early afternoon deals, with both Sensex and Nifty holding strong gains, on the back of heavy buying at Banking and IT counters, despite mixed cues from other Asian markets. Hopes of the U.S.-Iran peace agreement to end the Middle East war and the opening of the Strait of Hormuz helped ease tensions and saw the oil-linked energy sector tumbling. Some relief came after Reserve Bank of India (RBI) Governor Sanjay Malhotra said it is 'premature' to discuss interest rate hikes, stressing that policymakers continue to face elevated uncertainty from global developments and will remain guided by incoming economic data.

On the global front, Asian markets were trading mixed, after Taiwan's export order growth moderated for the second straight month in May, though it remained strong overall. According to data released by the Ministry of Economic Affairs, export orders climbed 47.2 percent year-over-year in May, slightly slower than the 48.1 percent surge in April.

The BSE Sensex is currently trading at 76825.14, up by 624.46 points or 0.82% after trading in a range of 76121.59 and 76976.37. There were 21 stocks advancing against 9 stocks declining on the index.

The top gaining sectoral indices on the BSE were Bankex up by 1.51%, IT up by 0.97%, Realty up by 0.93%, TECK up by 0.35% and Healthcare up by 0.25%, while Power down by 1.41%, Capital Goods down by 1.37%, Utilities down by 0.90%, Industrials down by 0.70% and Telecom down by 0.46% were the top losing indices on BSE.

The top gainers on the Sensex were Trent up by 3.96%, Interglobe Aviation up by 2.87%, ICICI Bank up by 2.32%, HDFC Bank up by 1.91% and Bajaj Finance up by 1.90%. On the flip side, Eternal down by 1.74%, Maruti Suzuki down by 1.67%, NTPC down by 1.45%, Bharti Airtel down by 0.80% and Bharat Electronics down by 0.71% were the top losers.

Meanwhile, India has initiated an anti-dumping investigation into imports of Cold Rolled Grain Oriented (CRGO) Electrical Steel and Amorphous Metal from China, Japan, South Korea and Russia. The investigation was initiated after JSW JFE Electrical Steel Nashik filed a petition to the Directorate General of Trade Remedies (DGTR), which alleged that low-priced imports are causing significant injury to the domestic industry.

The DGTR said 'on the basis of the duly substantiated written application submitted by the applicant and having reached satisfaction based on the prima facie evidence submitted by the applicant concerning dumping of the product...the authority hereby initiates an anti-dumping investigation.' In the probe, the directorate would determine the existence, degree and effect of the alleged dumping of the chemical exported from China and Japan. If it is established that the dumping has caused material injury to domestic players, the DGTR would recommend the imposition of the levy on imports. The finance ministry takes the final decision to impose these duties.

The products under investigation are primarily used in manufacture of power/distribution transformer cores. Both materials are used by the same consumer industries - transformer manufacturers supplying to utilities, industrial users, and renewable power projects. The product is primarily used as an intermediate in the manufacture of tyre and rubber products and in resin bonding applications. It is also used in the manufacture of specialised wood adhesive resins, dyes, pharmaceuticals, and cosmetic preparations.

The CNX Nifty is currently trading at 23991.35, up by 167.25 points or 0.70% after trading in a range of 23789.25 and 24013.85. There were 27 stocks advancing against 23 stocks declining on the index.

The top gainers on Nifty were Trent up by 4.22%, Shriram Finance up by 3.06%, Interglobe Aviation up by 3.00%, Dr. Reddy's Labs. up by 2.64% and Adani Enterprises up by 2.43%. On the flip side, Bajaj Auto down by 2.39%, SBI Life Insurance down by 2.08%, Eternal down by 1.91%, Tata Motors Passenger down by 1.81% and Maruti Suzuki down by 1.78% were the top losers.

Asian markets were trading mixed; KOSPI increased 267.18 points or 3.15% to 8,471.02, Hang Seng advanced 106.72 points or 0.46% to 23,443.00, Straits Times rose 11.28 points or 0.22% to 5,217.02 and Shanghai Composite strengthened 4.56 points or 0.11% to 4,110.81, while Jakarta Composite plunged 138.51 points or 2.27% to 5,962.82, Taiwan Weighted lost 1057.05 points or 2.3% to 46,043.60 and Nikkei 225 slipped 473.38 points or 0.68% to 69,315.00.
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