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Markets magnify gains in late trade
Jun-24-2026

Indian equity markets added more gains in late afternoon session supported by strong buying in IT and Banking stocks. Further, investors remained optimistic following Reserve Bank of India Governor Sanjay Malhotra’s remarks on internet rate hike. He said that it is premature to discuss tightening given fragile US-Iran truce and the uncertainty it creates for oil prices. Besides, traders overlooked the S&P Global Ratings’ report saying energy stress, sub-par monsoon and slowing global growth will pull down India's GDP growth to 6.6% in the current fiscal.

On the global front, Asian equity markets were trading mixed following a bruising tech sell-off on Wall Street overnight on doubts over the future of tech earnings. European equity markets were trading mostly in red despite the rise in Germany’s Ifo Business Climate Index in June 2026. Germany’s Ifo Business Climate Index increased to 85.6 in June 2026, the highest in three months and in line with market expectations. 

The BSE Sensex is currently trading at 77079.30, up by 878.62 points or 1.15% after trading in a range of 76121.59 and 77190.37. There were 21 stocks advancing against 9 stocks declining on the index.

The top gaining sectoral indices on the BSE were Realty up by 2.10%, IT up by 1.96%, Bankex up by 1.84%, Oil & Gas up by 1.00% and TECK up by 0.89%, while Capital Goods down by 1.39%, Power down by 1.09%, Industrials down by 0.60%, Telecom down by 0.57%, Utilities down by 0.37% were the top losing indices on BSE.

The top gainers on the Sensex were Trent up by 4.09%, Interglobe Aviation up by 4.07%, Tech Mahindra up by 3.10%, Infosys up by 2.94% and ICICI Bank up by 2.63%. On the flip side, NTPC down by 1.26%, Bharat Electronics down by 1.12%, Bharti Airtel down by 1.04%, Eternal down by 1.02% and Maruti Suzuki down by 0.93% were the top losers.

Meanwhile, Crisil Intelligence in its report has said that inflow of overseas funds backed by the measures taken place to boost foreign currency deposits, may provide incremental support to banks' deposit mobilisation in the current fiscal year (FY27). It noted that the RBI's decision to withdraw the interest rate ceiling on fresh foreign currency non-resident (FCNR-B) deposits of three-five year tenors till September 30 provides banks greater flexibility to offer competitive rates, thereby supporting foreign currency deposit inflows.

Further, the contribution of the rest-of-the-world (ROW) segment, comprising non-resident deposits, to overall bank deposits is expected to witness a modest uptick in FY27, providing supplementary support to deposit growth. The share of ROW deposits declined to 6.2% in FY26 from 7.1% in FY19. Besides, it said that while household deposits remain the primary source of funding, the gradual diversification of the deposit base suggests that other segments may also contribute to deposit growth.

It pointed that the broader banking system continues to face the challenge of strengthening liability franchises, with credit growth outpacing deposit growth. In FY26, the total deposits in India's banking sector grew 13.5% year-on-year to around Rs 262 trillion, while the system-level credit-deposit ratio remained above 81%. It added that the deposit balance remains concentrated, with the top 10 states accounting for around 76% of system deposits as of March 2026, broadly unchanged from March 2019. Maharashtra accounts for 23% of total system deposits, followed by Delhi, Karnataka, Uttar Pradesh and Tamil Nadu.

The CNX Nifty is currently trading at 24049.35, up by 225.25 points or 0.95% after trading in a range of 23789.25 and 24090.05. There were 31 stocks advancing against 19 stocks declining on the index.

The top gainers on Nifty were Interglobe Aviation up by 4.25%, Trent up by 3.86%, Tech Mahindra up by 3.11%, Adani Enterprises up by 3.00% and Infosys up by 2.98%. On the flip side, Bajaj Auto down by 2.21%, SBI Life Insurance down by 1.40%, NTPC down by 1.23%, Tata Motors Passenger Vehicles down by 1.17% and ONGC down by 1.15% were the top losers.

Asian equity markets were trading mixed; Hang Seng advanced 65.72 points or 0.28% to 23,402.00, KOSPI increased 267.18 points or 3.15% to 8,471.02, Shanghai Composite strengthened 4.56 points or 0.11% to 4,110.81 and Straits Times rose 11.97 points or 0.23% to 5,217.71, while Nikkei 225 slipped 473.38 points or 0.68% to 69,315.00, Taiwan Weighted lost 1057.05 points or 2.3% to 46,043.60 and Jakarta Composite plunged 213.63 points or 3.63% to 5,887.70.

European equity markets were trading mostly in red; UK’s FTSE 100 decreased 0.19 points or 0% to 10,428.66 and Germany’s DAX lost 164.78 points or 0.67% to 24,728.80, while France’s CAC rose 23.29 points or 0.28% to 8,364.00.
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