Metal, Oil, and Gas indices outperformed, Reality and Media Indices shed over 1 percent
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, June 26, 2025: On the June series Monthly F&O expiry day, the benchmark indices witnessed a stellar rally. The Nifty ends 304 points higher, while the Sensex was up by 1000 points. Among sectors, Metal, Oil, and Gas indices outperformed, with Metal gaining 2.13 percent and Oil and Gas 1.92 percent, whereas Reality and Media Indices shed over 1 percent.
Technically, after a strong open, the market successfully cleared the 25,300/83000 resistance mark, and post-breakout, positive momentum intensified. On daily charts, it has formed a long bullish candle, which supports further uptrend from the current levels.
Gaurav Garg, Lemonn Markets Desk, adds:
“Indian equity markets extended their gains on Thursday, with the Nifty 50 rising 1.21% to 25,549 and the BSE Sensex climbing 1.21% to 83,755.87 in morning trade, supported by strength in metal stocks and easing geopolitical concerns.
10 of the 13 major sectoral indices advanced, with the Nifty Metal index gaining 2.3% as a weaker U.S. dollar made dollar-denominated commodities more attractive to global buyers. The dollar weakened after U.S. President Donald Trump’s renewed criticism of the Federal Reserve reignited concerns over the central bank's independence, pressuring the greenback and boosting commodity-linked sectors globally.
While broader indices like small-caps and mid-caps were up near 0.4%, heavyweight stocks provided support—Reliance Industries rose 1.84% and HDFC Bank gained 1.89%. Indian benchmarks are now trading near nine-month highs, buoyed by geopolitical calm and continued foreign fund inflows.
The market sentiment suggests that investors believe major uncertainties have been resolved, paving the way for a continued upward trajectory. With geopolitical tensions easing, macroeconomic indicators stabilizing, the broader market appears to be regaining confidence. This renewed optimism is reflected in the sustained buying interest, as benchmark indices inch closer to the 26,000 mark."
We believe that the intraday market texture is bullish, but due to temporary overbought conditions, we could see range-bound activity in the near future. For day traders, buying on intraday corrections and selling on rallies would be the ideal strategy. On the downside, 25,415/83300 and 25,300/83000 would act as key support zones, while 25,720/84300 and 25,800/84500 would be the key resistance levels for the bulls. However, if the market dips below 25,300/83000, traders may prefer to exit their long positions.
