Closing Bell: Sensex Surges 790 Points and Bank Nifty Jumps 966 Points as RBI's Dovish Comments and FII Buying Fuel Recovery

24 Jun 2026 , 06:09 PM

The Indian benchmark indices staged a strong rebound on June 24, 2026, with Nifty climbing to 24,021 and Sensex surging 790 points to close at 76,991, after RBI Governor Sanjay Malhotra eased rate hike fears by calling further tightening “premature” at this stage. Brent crude slipping below $77 per barrel, optimism around a potential India-US trade agreement, and FIIs turning net buyers for a third straight session added further fuel to the rally. Nifty Bank led the charge with a sharp 966-point surge, Realty, IT, and Private Banks topped the gainers list, while Defence and Energy stocks ending in the red.

Market Overview: Nifty, Sensex, and Bank Nifty Performance

• Nifty 50 closed at 24,021.65 up 197.55 points (0.83%)
• Sensex ended at 76,991.22, up 790.54 points (1.04%)
• Nifty Bank settled at 58,150.35, up 966.60 points (1.69%)

Top Gaining Stocks Today

1. Inter Globe Aviation Limited – closing at 5,198.00 up by 4.77%

2. Trent Limited – closing at 3,256.00 up by 3.60%

3. Adani Enterprises Limited – closing at 3,068.00 up by 3.55%

4. Tech Mahindra Limited – closing at 1,461.00 up by 3.21%

5. Bajaj Finance Limited – closing at 990.00 up by 2.87%

Top Losing Stocks Today

1. NTPC Limited – closing at 356.65 down by 2.18%

2. Maruti Suzuki India Limited – closing at 13,209.00 down by 1.80%

3. Tata Steel Limited – closing at 190.15 down by 1.76%

4. Oil & Natural Gas Corporation Limited – closing at 240.10 down by 1.74%

Trending stocks

1. Bajaj Auto Limited –

• Closed at ₹9,755.45, down 2.69%

⮚ Ransomware Attack Weighed on Investor Sentiment: Bajaj Auto disclosed that it and its wholly owned subsidiary, Bajaj Auto Technology, were impacted by a ransomware-based cybersecurity incident, triggering concerns among investors regarding operational risks and system security.

⮚ Cybersecurity Concerns Created Near-Term Uncertainty: Although the company stated that it responded immediately with the help of cybersecurity experts and initiated precautionary measures, the disclosure of the attack led to cautious market sentiment.

⮚ Operational Impact Being Assessed: Investors reacted negatively as the company continues to evaluate the full impact of the incident on its systems and operations, despite management indicating that mitigation efforts have been successful so far.

⮚ Record Date for ₹5,632 Crore Buyback Added Focus on the Stock: June 24 was the record date for Bajaj Auto’s share buyback programme, under which the company plans to repurchase up to 46.94 lakh shares at ₹12,000 per share through the tender offer route.

Sectoral Index Performance

Indices	Change
Nifty Realty	2.17%
Nifty IT	2.05%
Nifty Private Bank	1.85%
Nifty Cement	1.68%
Nifty Financial Services Ex-Bank	1.54%
Nifty Oil & Gas	0.63%
Nifty India Defence	-1.97%
Nifty Energy	-0.89%

Sectoral Performance & Key Reasons

Realty (+2.17%) emerged as the top-performing sector as easing concerns around interest rate hikes following the RBI Governor’s comments improved sentiment toward interest-rate-sensitive sectors. Lower crude oil prices and expectations of a stable borrowing environment further supported housing demand and real estate developers. IT (+2.05%) witnessed a strong rebound after the sharp correction seen in recent sessions, supported by bargain buying, improving global technology sentiment, and a recovery in Asian markets, while investors selectively accumulated quality IT stocks at attractive valuations. Private Banks (+1.85%) and Financial Services Ex-Bank (+1.54%) gained as RBI’s accommodative stance, continued FII buying, and expectations of steady credit growth boosted confidence in financial stocks. Cement (+1.68%) advanced as lower crude oil prices improved margin expectations by reducing transportation and fuel costs, while infrastructure and construction demand remained supportive. Oil & Gas (+0.63%) traded higher on broad market optimism despite softer crude prices. However, Defence (-1.97%) witnessed profit booking after its recent strong rally, while Energy (-0.89%) underperformed as lower crude prices and sector-specific selling pressure weighed on select energy stocks despite the broader market strength.

Main Reasons for Stock Market Up Today

1. RBI Governor’s Comments Eased Interest Rate Concerns
   Investor sentiment improved after RBI Governor Sanjay Malhotra stated that discussions around further rate hikes are “premature” at this stage. The comments reduced fears of tighter monetary policy and boosted confidence in interest-rate-sensitive sectors such as banking and financials.
2. Falling Crude Oil Prices Strengthened Market Sentiment
   Brent crude slipped below $77 per barrel, providing significant relief to the Indian economy. Lower oil prices help reduce inflationary pressures, improve the current account balance, support the rupee, and enhance corporate profitability, leading to broad-based buying across sectors.
3. Optimism Around the India-US Trade Agreement
   Market sentiment received a boost from growing expectations that India and the United States are moving closer to finalizing a bilateral trade agreement. Investors believe a successful trade pact could support exports, attract investments, and strengthen India’s long-term economic growth outlook.
4. Foreign Institutional Investors (FIIs) Continued Buying
   FIIs remained net buyers for the third consecutive trading session, signalling improving confidence in Indian equities. Sustained foreign inflows provided liquidity support to the market and helped benchmark indices recover sharply from the previous session’s decline.
5. Strong Buying in Banking and IT Stocks Led the Rally
   Heavyweight banking and IT stocks emerged as the biggest contributors to the market rebound. Stocks such as ICICI Bank, HDFC Bank, Infosys, TCS, and Tech Mahindra witnessed strong buying interest, while improving global sentiment and the recovery in Asian markets further supported risk appetite.

 

Summary-

June 24, 2026, saw a strong rebound in the Indian stock market as easing interest rate concerns, lower crude oil prices, and continued FII buying supported broad-based gains across sectors:

• Realty, IT, Private Banks, Financial Services, and Cement stocks led the rally as investors welcomed the RBI Governor’s comments on rate hikes, while lower crude prices improved margin expectations and strengthened sentiment in rate-sensitive sectors.

• Oil & Gas stocks also moved higher, supported by the broader market recovery, while Defence and Energy stocks underperformed as investors booked profits after recent gains and lower crude prices weighed on sentiment.

With Nifty 50 rising 197.55 points (+0.83%) to 24,021.65, Sensex gaining 790.54 points (+1.04%) to 76,991.22, and Nifty Bank jumping 966.60 points (+1.69%) to 58,150.35, market sentiment improved due to the RBI’s dovish comments on rate hikes, Brent crude slipping below $77 per barrel, optimism around the India-US trade agreement, continued FII buying, and strong gains in banking and IT stocks.