Morning Brief: Nifty Closes at 24,102.9 (+0.37%); DIIs Net Buy ₹1,035 Cr Amid Global Cues | 23 Jun 2026, 08:15 AM IST
By Sivam
Indian equities advanced, with Nifty gaining 0.37% to 24,102.9, supported by DII inflows of ₹1,035 crore and positive Asian markets. Focus shifts to upcoming IPOs.
Indian equity benchmarks closed higher in the last session, with the Nifty 50 advancing to 24,102.9. The market was buoyed by easing geopolitical tensions in West Asia, a dip in crude oil prices, and supportive global cues, alongside fresh foreign fund inflows. Domestic Institutional Investors (DIIs) were net buyers, contributing to the positive sentiment.
Market Snapshot
| Index | Last |
|---|---|
| Nifty 50 | 24,102.90 (+0.37%) |
| Nifty Bank | 57,935.60 (+0.43%) |
| NIFTY Midcap 100 | 62,729.10 (+0.34%) |
Institutional Flows
Domestic Institutional Investors (DIIs) showed strong buying interest in the last session, with a net inflow of ₹1,035.72 crore, while Foreign Institutional Investors (FIIs) recorded a net outflow of ₹635.91 crore. Over the past three days, SEBI data indicates FIIs were net buyers in equity, with a significant net investment in debt.
| Date | FII Net (₹ Cr) | DII Net (₹ Cr) |
|---|---|---|
| 2026-06-22 | -635.91 | 1,035.72 |
| 2026-06-19 | 4,859.07 | -1,159.64 |
| 2026-06-18 | -1,025.20 | 3,516.81 |
| 2026-06-17 | 101.59 | 1,561.40 |
| 2026-06-16 | -749.18 | 0.06 |
| Date | FII Equity Net (₹ Cr) | FII Debt Net (₹ Cr) |
|---|---|---|
| 2026-06-22 | 5,526.92 | 7,339.84 |
| 2026-06-19 | -1,806.59 | 247.60 |
| 2026-06-18 | 886.08 | 1,823.40 |
Sector Performance
The Pharma and IT sectors led the gains in the last trading session, while FMCG experienced a slight decline.
| Sector | Last |
|---|---|
| Nifty Pharma | 24,762.90 (+1.24%) |
| Nifty IT | 27,628.55 (+0.74%) |
| Nifty Financial Services | 26,585.55 (+0.58%) |
| Nifty PSU Bank | 8,763.90 (+0.54%) |
| Nifty Auto | 26,703.45 (+0.45%) |
| Nifty Realty | 815.15 (+0.40%) |
| Nifty FMCG | 49,355.10 (-0.41%) |
Top Movers
| Symbol | Company | Last |
|---|---|---|
| CIPLA | Cipla Ltd. | 1,415.70 (+4.73%) |
| TECHM | Tech Mahindra Ltd. | 1,435.20 (+1.82%) |
| DRREDDY | Dr. Reddy’s Laboratories Ltd. | 1,290.70 (+1.46%) |
| SUNPHARMA | Sun Pharmaceutical Industries Ltd. | 1,862.90 (+1.34%) |
| INFY | Infosys Ltd. | 1,065.40 (+1.33%) |
| Symbol | Company | Last |
|---|---|---|
| ASIANPAINT | Asian Paints Ltd. | 2,674.00 (-2.16%) |
| TITAN | Titan Company Ltd. | 4,372.50 (-1.07%) |
| NESTLEIND | Nestle India Ltd. | 1,401.90 (-0.91%) |
| SHRIRAMFIN | Shriram Finance Ltd. | 992.85 (-0.90%) |
| POWERGRID | Power Grid Corporation Of India Ltd. | 289.75 (-0.86%) |
Global Cues
Asian markets settled higher on Monday, with Japan’s Nikkei 225 Index surging to new record highs driven by AI infrastructure firms. Chinese shares also climbed. However, investors remained cautious regarding the prospect of US interest rates staying higher for longer. Crude oil prices dipped following progress in US-Iran talks, alleviating market fears.
Currency & Macro
The Indian rupee weakened against the US dollar, ending at 94.61, down 28 paise from its previous close. On the macro front, India and the EU are expected to sign a Free Trade Agreement by December 2026, with implementation by early 2027. Similarly, the India-UK free trade pact is set to formally enter into force on July 15, 2026, aiming to double two-way commerce. India’s merchandise exports have shown resilience, rising by about 15% during April-June 14, 2026. India has also initiated an anti-dumping investigation into imports of ‘Resorcinol’ from China and Japan to protect domestic manufacturers. ICRA projects a moderate growth of 3-5% for the Indian two-wheeler industry in FY27.
Inflation Update
Wholesale Price Index (WPI) inflation reached 9.68% in May 2026 under a revised series, driven by higher food and fuel prices. Retail inflation (CPI) also surged to 3.93% in May, marking the fourth consecutive monthly increase, though it remains within the RBI’s target range.
Corporate & Earnings
- Dee Development Engineers Ltd: Announced an award of order.
- Hindustan Zinc: Signed an MoU with Advantek Associates LLP and Aero Eagle Automobiles to evaluate innovative technologies for low-carbon mining.
- Bharat Electronics: Secured additional orders worth ₹1,081 crore for communication equipment, radars, and other defense systems.
- Fox Petroleum Group: Plans to invest $50 million in Danube Industries as a strategic investor.
- Flair Writing Industries: Rose on bagging orders worth ₹20 crore, to be executed in the next 90 days.
- KPI Green Energy: Moved up after incorporating a wholly-owned subsidiary, ‘KPGC One’.
- Concord Biotech: Surged on inking a pact to acquire a 27.38% stake in M/s FSGE Renewable Power for a Wind Solar Hybrid Power Project in Gujarat.
- Bharat Forge: Signed a ₹425 crore contract with the Ministry of Defence for Gas Turbine Generators for the Indian Navy.
- Texmaco Rail & Engineering: Secured a Letter of Intent for new orders.
IPO Watch
Several IPOs are opening for subscription today or are currently open, offering new investment opportunities for your portfolio.
- Advit Jewels Ltd.: Opens today (June 23) with a price band of ₹130-138.
- Jivial Industries Ltd.: Opens today (June 23) at ₹196.
- Shreedhar Spinners Ltd: Opens today (June 23) with a price band of ₹51-53.
- Waterways Leisure Tourism Ltd.: Opens today (June 23) with a price band of ₹769-808.
- Anubhav Plast Ltd.: Currently open, closes today (June 23) with a price band of ₹77-80.
- Turtlemint Fintech Solutions Ltd.: Currently open, closes today (June 23) with a price band of ₹144-152.
- Riyaasat Lifestyle Ltd.: Currently open, closes June 25, with a price band of ₹100-106.
Upcoming IPOs include Twinkle Papers Ltd., Aastha Spintex Ltd., Crazy Snacks Ltd., IC Electricals Company Ltd., CSM Technologies Ltd., Sri Priyanka Geo Commex Ltd., and Dhanwel Hybrid Seeds Ltd., all scheduled to open later this week.
Despite FII outflows, robust DII buying and positive global cues provided strong support to Indian equities, indicating underlying domestic strength.
The flurry of new IPOs opening this week suggests a vibrant primary market, offering diverse opportunities for investors looking to expand their holdings.