Final Trade (June 11): Sensex closes 143 pts higher, Nifty closes at 24,141; FMCG, PSU Banks drag, IT shines

Equity benchmarks ended Wednesday’s session with modest gains, buoyed by firm global markets and sustained foreign capital inflows. The BSE Sensex rose 123 points to close at 82,515, while the NSE Nifty extended its winning streak to a sixth straight day, adding 37 points to settle at 25,141.

The rally was led by strength in IT, auto and select financial names, even as some FMCG and power counters witnessed profit booking.

Nifty up nearly 600 pts in 6 days

The Nifty has now rallied 598 points or 2.42 per cent in the past six trading sessions, hitting new milestones amid strong institutional buying and global tailwinds. Optimism surrounding the resolution of US-China trade tensions also added to the risk-on mood globally.

Top Gainers and Losers

Among the top Sensex gainers were HCL Tech, Infosys, Tech Mahindra, Reliance Industries, Bajaj Finserv, ICICI Bank, and Tata Motors. Strong buying was witnessed in IT stocks on hopes of renewed tech spending and a potential breakthrough in global trade relations.

On the flip side, Power Grid, Adani Ports, IndusInd Bank, Nestle, HDFC Bank, and Hindustan Unilever dragged due to sector-specific concerns and valuation-led selling.

Broader markets witness profit-taking

Despite gains in headline indices, profit-booking was visible in the broader markets as elevated valuations prompted traders to book gains. Analysts noted that while frontline indices remain stable, selective churn continues in midcaps and smallcaps.

Largecaps continue to attract FIIs

“Profit-booking continues in the broader markets, driven by elevated domestic valuations. However, large-cap resilience is supporting the indices, with institutional investors favouring companies with stable earnings outlooks,” said Vinod Nair, Head of Research at Geojit Financial Services.

FIIs infuse Rs 2,300 crore; crude trends higher

Foreign Institutional Investors (FIIs) continued their buying spree, pumping in Rs 2,301 crore in Indian equities on Tuesday. Meanwhile, Brent crude edged up 0.43 per cent to USD 67.16 per barrel, offering stability to energy-importing economies like India.