Nifty trades above 24,100 level; media shares in demand
At 12:26 IST, the barometer index, the S&P BSE Sensex gained 374.55 points or 0.49% to 77,177.13. The Nifty 50 index jumped 101.55 points or 0.41% to 24,113.90.
In the broader market, the BSE 150 MidCap Index rose 0.40% and the BSE 250 SmallCap Index rallied 0.67%.
The market breadth was negative. On the BSE, 2,624 shares rose and 1,557 shares fell. A total of 241 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.75% to 12.87. The Nifty 30 June 2026 futures were trading at 24,144.40 at a premium of 30.50 points as compared with the spot at 24,113.90.
The Nifty option chain for the 30 June 2026 expiry showed a maximum call OI of 112.7 lakh contracts at the 25,000 strike price. Maximum put OI of 79.4 lakh contracts was seen at a 24,000 strike price.
Economy:
India's foreign exchange reserves declined by $9.99 billion to $671.63 billion during the week ended June 12, 2026, primarily due to a sharp fall in gold reserves, according to data released by the Reserve Bank of India (RBI) on Friday.
Foreign currency assets (FCAs), a major component of the reserves, increased by $846 million to $544.29 billion during the reporting week.
However, gold reserves declined by $10.75 billion to $103.82 billion. Special Drawing Rights (SDRs) also fell by $66 million to $18.70 billion.
India's reserve position with the International Monetary Fund (IMF) decreased by $11 million to $4.82 billion during the week, RBI data showed.
Maharashtra Monsoon Session 2026:
The Maharashtra Legislature's monsoon session begins today, 22 June 2026 and will continue until July 10, 2026. The three-week session will be held in Mumbai and is expected to deliberate on several important legislative and policy matters concerning the state.
Buzzing Index:
The Nifty Media index rose 0.73% to 1,526.50. The index rallied 1.38% in three consecutive trading sessions.
Saregama India (up 1.78%), Zee Entertainment Enterprises (up 1.76%), PVR Inox (up 0.90%), Nazara Technologies (up 0.71%), Network 18 Media & Investments (up 0.53%), Hathway Cable & Datacom (up 0.25%) and Sun TV Network (up 0.09%) advanced.
On the other hand, Prime Focus (down 3.72%), D B Corp (down 0.73%) and Tips Music (down 0.15%) edged lower.
Stocks in Spotlight:
Aurobindo Pharma shed 0.90%. The company announced that its wholly owned subsidiary, Aurobindo Pharma USA, Inc., has received approval from the U.S. Federal Trade Commission (FTC) to proceed with the acquisition of Lannett Company LLC.
Blue Cloud Softech Solutions surged 18.88% after the company announced that it is evaluating preliminary, non-binding business opportunities in the field of artificial intelligence (AI) technology with SpaceX International.
Garden Reach Shipbuilders & Engineers (GRSE) rallied 3.04% after the company announced that it had been granted Navratna status by the Department of Public Enterprises (DPE) under the Ministry of Finance.
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