India Markets Update: Investor Sentiments Remain Positive as Both Nifty and Sensex Witness Gain
Udaipur, June 22, 2026 | Stock Market News: Indian benchmark indices traded within a narrow range but maintained a positive bias throughout the session as investors continued to assess developments surrounding the ongoing US–Iran negotiations. Overall market sentiment remained constructive, supported by stable global cues and continued participation across broader market segments. However, concerns regarding the slow progress of the monsoon remained on investors' radar, as prolonged delays could result in inflationary pressures and potentially impact consumer sentiment as well as demand in agriculture-linked sectors. At close, the Nifty 50 gained 0.37% to settle at 24,102, while the Sensex advanced 0.38% to close at 77,094.
On the sectoral front, Healthcare, Pharma, and Media emerged as the top-performing sectors, witnessing sustained buying interest throughout the session. On the other hand, FMCG and Consumer Durables remained under pressure and were the key laggards, reflecting some profit booking in consumption-oriented stocks. The broader market continued to outperform the benchmark indices. The Nifty Midcap 100 index gained 0.34% to close at 62,729, while the Nifty Smallcap 100 index advanced 0.60% to settle at 18,897, indicating relatively stronger participation and risk appetite in the smallcap segment.
Nifty Outlook
Index formed a doji candlestick pattern with a higher high and a higher low signaling continuation of the positive momentum, however some profit booking at higher levels around the last week high (24189) saw the index closing off the highs around the 24,100 levels. Going ahead, a decisive move above last week high of 24,189 could reignite momentum and pave the way for an advance towards 24,300 levels in the coming sessions. Failure to do so will lead to some consolidation amid stock specific action in the range of 23,900-24,189.
Bias remains positive and dips should be used as a buying opportunity with immediate support placed at 23,900–23,800 range being the last Monday's gap area and the 50-day EMA. The key short-term support is placed at 23,500–23,600 zone being the recent breakout area and the key retracement of recent pullback. On the higher major resistance is seen at 24,600 levels being the April high and the placement of the 200 days EMA.
Bank Nifty Outlook
Index formed a high wave candlestick pattern with a higher high and a higher low signaling continuation of the positive momentum. Index in the daily chart has recently generated a bullish crossover of 20 & 50 days EMA thus supports the positive bias in the index. Going ahead, a decisive move above last week high of 24,189 could reignite momentum and pave the way for an advance towards 58,300 and 59,250 levels in the coming sessions being the measuring implication of the recent range breakout and the 138.2% external retracement of the previous decline 57456-52783.
Some consolidation after 5000 points up move in just 13 sessions cannot be ruled out in the Bank Nifty. However, we believe the overall structure is positive, and any dips should be used to accumulate quality banking stocks in a staggered manner. Key support is placed at 56,000 levels being the confluence of the 38.2% retracement of the entire pullback 53,027-57954 and the recent breakout area.
