Stock markets end in green; Nifty reclaims 24,000 mark

Indian stock markets roared back on Wednesday, with the benchmark Nifty index decisively reclaiming the psychologically significant 24,000 mark, driven by widespread buying across IT, realty, and banking sectors. The Nifty 50 surged 0.83% to settle at 24,021.65, while the Sensex jumped 1.04% to 76,991.22, signaling a robust rebound after recent volatility. This powerful rally was fueled by a convergence of positive factors, including cooling global crude oil prices—with Brent dipping below $76 a barrel amid signs of de-escalation in Middle East tensions—and supportive remarks from Reserve Bank of India (RBI) Governor Sanjay Malhotra, who dismissed immediate concerns about interest rate hikes. A strengthening Indian Rupee also bolstered market sentiment, coupled with significant foreign portfolio investor (FPI) bond inflows earlier in the month, contributing to improved risk appetite. This broad-based recovery saw the Nifty IT and Realty indices gain around 2% each, while the Nifty Private Bank index climbed 1.8%, erasing much of the previous session's losses. Looking ahead to Thursday, June 25, Indian equities are poised for a positive open, continuing the momentum from Wednesday's strong performance. Traders will be closely watching for Nifty to sustain above the 24,000 level, with immediate resistance anticipated around 24,150-24,200, before potentially targeting the 24,500-24,600 range. While the IT sector has faced challenges this year, its long-term outlook remains bright with investments in emerging technologies, suggesting that dips could present buying opportunities in selective stocks. The banking and real estate sectors are also expected to maintain their growth trajectory, supported by healthy economic fundamentals and continued investment momentum.