Daily Market Update – 24 June 2026 by Ventura Securities Ltd
Market Outlook:
Indian markets are expected to witness a positive opening today, supported by Gift Nifty, which gained 78 points (+0.33%) despite weakness across major global markets. Overnight, the U.S. markets closed mixed, with the Dow Jones gaining 0.22% while the S&P 500 and Nasdaq declined by 0.92% and 2.56%, respectively. However, market breadth remained weak in the domestic market during the previous session, with the NSE advance-decline ratio at 1020:2280, indicating broader selling pressure. Investors are likely to remain cautious amid elevated volatility, as reflected by the India VIX, which surged 10.8% during the session.
FII and DII Activity:
Institutional participation remained mixed in the previous trading session. Foreign Institutional Investors (FIIs/FPIs) were net sellers worth Rs636 crore, reflecting cautious sentiment amid global uncertainty and weakness in risk assets. Domestic Institutional Investors (DIIs), however, continued to provide support to the markets with net purchases of Rs1,036 crore. Persistent domestic inflows continue to cushion the impact of foreign selling and provide stability to benchmark indices.
Sector Activity:
Sectoral performance remained largely negative with broad-based selling witnessed across Auto, FMCG, Realty, Oil & Gas, PSU Banks, Consumer Durables, IT, Financial Services, Metals, and Infrastructure. Nifty PSU Bank emerged as one of the worst-performing sectors, declining 1.97%, led by weakness in Canara Bank and Bank of Baroda. Realty and Consumer Durables also remained under pressure, while Nifty IT fell 2.2% following weakness in global technology stocks. On the positive side, Pharma and Healthcare continued to outperform, gaining 0.9% and 0.5%, respectively, indicating defensive buying interest in the sector.
Derivative Positioning – Longs, Shorts, Long Unwinding & Short Covering:
Derivative data suggests continued long build-up in GVT&D, Trent, Bharat Forge, Bajaj Finance, and Motherson, indicating sustained bullish sentiment in select counters. Fresh short positions were observed in Britannia, Asian Paints, SAIL, PNB Housing Finance, and Kaynes Technology, reflecting bearish expectations. Long unwinding was seen in Sammaan Capital, PG Electroplast, Max Healthcare, GMR Airports, and Voltas, highlighting profit booking and weakening momentum. Meanwhile, short covering activity was visible in Radico Khaitan, HDFC Life, NTPC, and Premier Energies, indicating traders reducing bearish bets and supporting near-term price recovery in these stocks.
Top 5 News Highlights:
Indian Railway Finance Corporation (IRFC) – Government of India launched an Offer for Sale (OFS) of up to 1% stake (13.06 crore shares), aimed at increasing public float and enhancing liquidity.
Bajaj Auto Ltd. – The company finalized June 24 as the record date for its Rs5,632.8 crore buyback at Rs12,000 per share, reinforcing shareholder value creation following strong FY26 performance.
Affle India Ltd. – Affle's subsidiary is set to complete the acquisition of AdColony's technology and intellectual property assets for approximately Rs39.2 crore, strengthening its AI-driven digital advertising capabilities.
Finkurve Financial Services Ltd. – The company will consider raising up to Rs50 crore through Non-Convertible Debentures (NCDs) to support growth in its gold loan and digital financing businesses.
Equitas Small Finance Bank Ltd. – The Board is scheduled to evaluate capital raising options, including Tier-I and Tier-II instruments, to support future credit growth and maintain capital adequacy.
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