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Market Commentary

Indian benchmark indices opened on a strong note and extended gains during the first half of the session, with Nifty touching an intraday high of 24 ,261 . However, heightened volatility owing to the monthly Sensex expiry triggered profit booking at higher levels, resulting in the indices surrendering most of their intraday gains and closing with marginal advances . Support to market sentiment came from the recovery in the Indian Rupee and crude oil prices remaining below the $74 per barrel mark .

* At the close, the Sensex gained 109 .25 points (0 .14%) to settle at 77,100 .47 , while the Nifty advanced 34 .35 points (0 .14%) to close at 24 ,056 .00 .

* On the sectoral front, market breadth remained mixed . Nifty Auto emerged as the top - performing sector, followed by gains in FMCG and Realty stocks . On the other hand, weakness was witnessed in Oil & Gas, IT, Chemicals, and Media stocks, which capped the overall market upside .

* Broader markets underperformed the benchmark indices, reflecting profit booking across the broader spectrum . The Nifty Midcap 100 Index declined 0 .55 %, while the Nifty Small cap Index fell 0 .47 %.

* Gift Nifty signals a flat opening for the Indian market . Nifty spot in today's session is likely to consolidate in the range of 23 ,850 - 24 ,260 .

* The fragile West Asia ceasefire framework faced severe structural disruptions over the weekend after forces traded intensive tactical military strikes . The recent escalation flared up after U.S . forces targeted Iranian drone depots and coastal radar stations on June 26 and 27 in response to attacks on commercial shipping

* Prior to the sudden diplomatic pause, U.S . President Donald Trump took to social media to heavily criticize violations of the memorandum of understanding . Warning of overwhelming military resolve, Trump posted that continued hostility would leave Washington forced to complete its objective under Operation Project Freedom

* Asian markets opened cautiously, with Japan's Nikkei 225 down 0 .77%, South Korea's KOSPI falling 1.70 % on chip weakness, while Australia's S&P/ASX 200 rose 0 .35 %, supported by mining stocks .

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