After opening on a positive note, the benchmark traded in a narrow range for most of the session, witnessing intermittent bouts of buying and selling. However, fresh buying interest emerged in the final hour of trade, helping the index close near the day’s high.
Among the Nifty constituents, Max Healthcare, IndiGo and Adani Enterprises were the top gainers, while Infosys, Tata Consumer Products and Tech Mahindra ended as the key laggards.
Sectoral performance remained largely positive. Barring Nifty IT and Metal, all major sectoral indices ended in the green, with Healthcare, Financial Services and Realty leading the gains.
The broader market also maintained its upward momentum for a fifth straight session. The Nifty Midcap 100 and Nifty Smallcap 100 indices gained 0.40% each, reflecting continued participation beyond large-cap stocks.
Market sentiment remains supported by easing geopolitical concerns and softer crude oil prices. Investors are also tracking developments around a potential US-Iran understanding, which could further improve risk appetite if formalised.
Heading into Friday’s session, IT stocks will remain in focus after Accenture shares plunged 19% in their biggest one-day decline on record. The selloff came after Accenture trimmed the upper end of its annual revenue growth forecast on June 18. The company now expects annual revenue growth of 3% to 4%, compared with its earlier guidance of 3% to 5%.
Following the development, Infosys ADRs fell nearly 8%, while Wipro ADRs declined about 4%.
Siddhartha Khemka of Motilal Oswal said a combination of easing geopolitical tensions, improving foreign fund flows and progress on key trade agreements is likely to support market sentiment and sustain the ongoing momentum in Indian equities.
According to Nagaraj Shetti of HDFC Securities, a decisive breakout above the 24,150 level could trigger fresh buying interest and propel the Nifty towards the 24,400-24,500 zone in the near term. Immediate support is placed at 24,000.
Nandish Shah of HDFC Securities said that the Nifty has closed above the crucial 100-day DEMA resistance at 24,153 for the first time since the escalation of the West Asia conflict in February 2026.
Following this move, the index appears well-positioned to advance towards its 200-day DEMA, currently placed near 24,462. On the downside, immediate support has shifted higher to the 24,000 level, which is expected to attract buying interest on any near-term decline.
Nilesh Jain of Centrum Finverse said the Nifty has also broken out of a falling trendline pattern, indicating the potential for an advance towards 24,500 in the near term. He added that 24,000 remains the key support level for the index.
