Pre-Market Brief: Nifty Holds Above 24,100 as Pharma and IT Drive Gains; FIIs Net Sellers | 23 Jun 2026, 08:00 AM IST
By Sivam
Nifty 50 closes above 24,100 with pharma and IT sectors driving gains. FIIs recorded a net sell, while DIIs provided support. Focus remains on sector-specific momentum at the 9:15 AM open.
The Indian equity markets concluded Monday’s session with Nifty 50 closing above the key 24,100 mark, supported by domestic institutional buying despite a net outflow from Foreign Institutional Investors (FIIs). The benchmark Nifty 50 advanced +0.37%, adding +90 pts to settle at 24102.90. This upward movement was largely cushioned by DIIs, who recorded a net inflow of +1035.72 cr, offsetting the FII net sell of −635.91 cr.
Index Snapshot
| Name | Close | Change% |
|---|---|---|
| Nifty Bank | 57935.60 | +0.43% |
| NIFTY Midcap 100 | 62729.10 | +0.34% |
| Nifty 50 | 24102.90 | +0.37% |
The broader market also showed positive momentum, with the NIFTY Midcap 100 rising +0.34%. Market breadth in the Nifty 50 was marginally positive, with 26 advances against 24 declines, indicating a balanced sentiment across frontline stocks.
FII and DII Activity
FIIs recorded a net outflow of −635.91 cr on Monday, marking their first consecutive sell session in the last five trading days. This contrasts with DIIs, who provided significant support with a net inflow of +1035.72 cr. Over the past five sessions, FII activity has been mixed, including a substantial inflow of +4859.07 cr on June 19, alongside outflows of −1025.2 cr on June 18 and −749.18 cr on June 16. DIIs have consistently been net buyers, with flows of +1561.4 cr on June 17, +3516.81 cr on June 18, and +1035.72 cr on June 22, indicating sustained domestic institutional support.
Sector Performance
Several sectors posted gains on Monday. The highest sectoral gain was +1.24%, followed by increases of +0.74%, +0.58%, +0.54%, +0.45%, and +0.40%. Conversely, one sector recorded a decline of −0.41%, indicating some profit booking in specific areas.
Nifty 50 Top Movers
Among the Nifty 50 constituents, pharmaceutical and IT stocks led the gains. Cipla Ltd. (CIPLA) was the top gainer, rising +4.73% to ₹1415.7. Tech Mahindra Ltd. (TECHM) followed with a +1.82% increase to ₹1435.2. Dr. Reddy’s Laboratories Ltd. (DRREDDY) advanced +1.46% to ₹1290.7, while Sun Pharmaceutical Industries Ltd. (SUNPHARMA) closed +1.34% higher at ₹1862.9. Infosys Ltd. (INFY) also saw a gain of +1.33%, ending at ₹1065.4.
On the declining side, Asian Paints Ltd. (ASIANPAINT) was the biggest loser, falling −2.16% to ₹2674. Titan Company Ltd. (TITAN) dropped −1.07% to ₹4372.5, and Nestle India Ltd. (NESTLEIND) declined −0.91% to ₹1401.9. Shriram Finance Ltd. (SHRIRAMFIN) was down −0.90% at ₹992.85, and Power Grid Corporation Of India Ltd. (POWERGRID) closed −0.86% lower at ₹289.75.
What to Watch at 9:15 AM
As the market prepares for the 9:15 AM open, traders will closely monitor the continuation of domestic institutional support and any shifts in FII sentiment, particularly in the context of sector-specific momentum seen in pharma and IT.