Sensex rises 254 points, Nifty at 24,168 as PSU banks and healthcare lead
Synopsis
Indian markets clawed back gains in the final hour on 18 June, with PSU banks and healthcare doing the heavy lifting. But the IT drag — down 1.19% — is a recurring theme, and with Nifty staring at the 24,200 resistance wall, the next move hinges on US-Iran developments and foreign fund flows.
Key Takeaways
Sensex rose 254.36 points to close at 77,409.98 on 18 June .
Nifty50 gained 82.30 points to settle at 24,168.00 .
Nifty Healthcare led sectoral gains, climbing 0.98% ; Nifty IT was the worst performer, falling 1.19% .
Top Nifty gainers included Adani Enterprises , InterGlobe Aviation , and Max Healthcare Institute .
Rupee strengthened 16 paise to 94.32 , its fifth straight session of gains.
Analysts peg 24,200 as immediate resistance and 24,000 as a critical support for Nifty.
Indian equity benchmark indices closed higher on Thursday, 18 June, with the BSE Sensex adding 254.36 points (0.33%) to settle at 77,409.98 and the Nifty50 gaining 82.30 points (0.34%) to close at 24,168.00. Fag-end buying across PSU banks, healthcare, metals, and realty counters drove the recovery, even as persistent weakness in IT stocks limited the day's upside.
Sectors That Led the Gains
The Nifty PSU Bank, Nifty Healthcare, Nifty Realty, and Nifty Consumer Durables indices all outperformed the broader market. The healthcare pack was the standout, with the Nifty Healthcare index climbing 0.98%. Buying interest in public sector banks and real estate counters provided additional support through the second half of the session.
Among Nifty constituents, Adani Enterprises, InterGlobe Aviation, and Max Healthcare Institute emerged as the top gainers. On the Sensex board, Adani Ports, InterGlobe Aviation, Trent, NTPC, Bharat Electronics Limited, HDFC Bank, and State Bank of India were among the notable movers.
IT Stocks Remain the Drag
Information technology shares continued to face selling pressure, making the Nifty IT index the worst-performing sectoral gauge of the session with a decline of 1.19%. The sector's exposure to slowing US discretionary spending has kept investor sentiment cautious, a trend that has persisted across multiple recent sessions.
Technical Outlook for Nifty
Market analysts flagged 24,200 as the immediate resistance level for the Nifty. 'A sustained breakout above this level would reinforce bullish momentum and could pave the way for an extension of the rally towards the 24,400 region, which represents the next significant upside target,' an analyst said.
On the downside, analysts view the 24,000 mark as a critical support. 'Holding above this zone will be crucial to preserve the ongoing recovery structure and maintain the positive momentum. However, a decisive break below 24,000 could trigger fresh profit booking and drag the index towards the 23,900 support region,' a market expert noted.
Broader Market and Rupee
The broader market mirrored the positive tone. The Nifty MidCap index ended 0.41% higher, while the Nifty SmallCap index advanced 0.44%, suggesting wide participation beyond large-cap names.
The rupee also strengthened, trading firmer by around 16 paise to 94.32 against the dollar, extending its positive run for the fifth consecutive session. Analysts see the near-term trading range for the currency between 94.00 and 94.75. Looking ahead, market participants will closely track developments in US-Iran negotiations, crude oil prices, and foreign fund flows for directional cues.
Point of View
Not broad conviction, that pushed the indices into the green. The IT sector's persistent underperformance is a structural warning: as long as US growth fears linger, India's largest export-earnings sector will act as a ceiling on any sustained rally. The rupee's five-session winning streak adds a tailwind for foreign inflows, but the real test is whether Nifty can crack and hold above 24,200. A failure there would confirm that the current recovery is a range trade, not a breakout.
NationPress
12 Aug 2026
Frequently Asked Questions
Why did the Sensex and Nifty rise on 18 June?
The Sensex rose 254.36 points to 77,409.98 and the Nifty gained 82.30 points to 24,168.00 on 18 June, driven by fag-end buying and gains in PSU bank, healthcare, metal, and realty stocks. Market sentiment improved in the second half of the session.
Which sectors outperformed the market on 18 June?
The Nifty PSU Bank, Nifty Healthcare, Nifty Realty, and Nifty Consumer Durables indices all outperformed. Healthcare led with a 0.98% gain, while PSU banks and real estate also attracted strong buying interest.
Why did IT stocks fall while the broader market rose?
The Nifty IT index declined 1.19%, making it the worst-performing sectoral index of the session. IT stocks remain under pressure due to concerns over slowing US discretionary spending, which directly affects revenue visibility for India's technology exporters.
What are the key Nifty levels to watch?
Analysts identify 24,200 as the immediate resistance; a sustained close above it could open a move toward 24,400. On the downside, 24,000 is the critical support — a break below it could trigger profit booking toward 23,900.
How did the rupee perform on 18 June?
The rupee strengthened by around 16 paise to 94.32 against the dollar, extending its positive trend for the fifth consecutive session. Analysts see the near-term range between 94.00 and 94.75.
