Sensex Rises 123 Points, Nifty Holds Above 25,100 Amid IT & Oil Rally

Market Performance

Benchmark indices Sensex and Nifty ended higher on June 11, supported by substantial gains in IT and oil & gas stocks. However, profit-booking in FMCG and PSU banks limited the upside.

• Sensex closed 123.42 points (0.15%) higher at 82,515.14.
• Nifty gained 37.15 points (0.15%), settling at 25,141.40.
• 2173 stocks advanced, while 1730 declined; 120 remained unchanged.
• Midcap and Smallcap indices underperformed, falling 0.49% and 0.58%, respectively.

Key Drivers of the Market

1. IT Stocks Shine on Global Trade Optimism

• HCL Tech, Infosys, Tech Mahindra, and Wipro were among the top gainers.
• Positive sentiment followed reports of progress in US-China trade talks, easing concerns in the tech sector.

2. Oil & Gas Stocks Rally on Inventory Forecast

• ONGC, IOC, HPCL, and BPCL surged up to 4%.
• The rally followed the US Energy Information Administration's (EIA) projection of higher oil inventory growth in 2025.
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3. Liquor Stocks Jump on Maharashtra Excise Duty Hike

• GM Breweries soared 19%, while Sula Vineyards rose 10%.
• The Maharashtra government increased excise duties on Indian Made Foreign Liquor (IMFL) and introduced a new category of Maharashtra Made Liquor (MML).
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Sectoral Performance

• Top Gainers:
  • Nifty Oil & Gas (+1.54%)
  • Nifty IT (+1.14%)
  • Nifty Pharma (+0.45%)
• Top Losers:
  • Nifty FMCG (-0.65%)
  • Nifty PSU Bank (-0.94%)
  • Nifty Private Bank (-0.22%)

Key Stock Movements

• Top Nifty Gainers: HCL Tech, Infosys, ONGC, Tech Mahindra, Wipro
• Top Nifty Losers: Shriram Finance, Power Grid, Adani Enterprises, Adani Ports, Bharat Electronics

India VIX Performance

• The India VIX (Volatility Index) fell 2.6% to 13.61, indicating a reduction in market fear.

Global & Economic Factors

• US CPI data is awaited for further cues on inflation trends.
• The World Bank revised India's FY27 GDP growth forecast to 6.5% while lowering its global growth forecast to 2.3% due to trade tensions.

Final Takeaway

The Sensex and Nifty extended gains, driven by IT and oil stocks, while broader markets faced profit-booking. Investors remain careful ahead of key economic data, but strong liquidity and sector-specific momentum could keep markets buoyant in the near term.