Market Rises on FII Buying, IT and Pharma Shine
Market Recap: 22nd June 2026
The Indian stock market ended on a bullish note today, with the Nifty 50 rising 0.37% to close at 24,102.90. This follows a positive trend in most of the sectoral indices, with IT and Pharma leading the pack.
Indices: The Mood Was Bullish Today
Here's a snapshot of the key indices:
- Nifty 50: 24,102.90 (+0.37%)
- Nifty Bank: 57,935.60 (+0.43%)
- Nifty 100: 25,209.55 (+0.49%)
- Nifty 500: 23,261.85 (+0.51%)
- Nifty IT: 27,628.55 (+0.74%)
- Nifty Pharma: 24,762.90 (+1.24%)
Top Gainers of the Day
- NOCIL Limited: UP +10.51%. The stock was in focus after the company announced a 10% increase in its dividend payout for the current fiscal year. We had recommended buying NOCIL in our previous analysis.
- HCL Technologies: No change in stock price but we see value here.
Biggest Losers of the Day
- Avenue Supermarts: DOWN -1.35%. The stock was in focus as reports emerged of a possible margin squeeze in the retail sector. However, the stock has been trading near its recent lows and can be considered a buy on dips.
Institutional Activity: FII's the Key to Today's Gains
FII buying played a key role in the market's rise today, with a net buy of ₹4,859.07 Cr. DII activity, however, was largely offsetting, leading to a net sell of ₹1,159.64 Cr.
Sectoral Trends
IT and Pharma were the top gainers among all sectors today. The Nifty IT index rose 0.75% in line with the strong performance of IT stocks. Nifty Pharma index jumped 1.23% with the stocks of companies such as Lupin and Dr. Reddy's rising sharply.
What to Watch Tomorrow?
Investors should keep an eye on the global cues, particularly the trends in the dollar and bond markets. As the market continues to consolidate, we expect the IT and Pharma stocks to hold their gains.
This is an AI-generated market summary for informational purposes only. Not investment advice.