Nifty reclaims 24,000 as Reliance, Pharma lead in 2026

Nifty back above 24,000 as sentiment improves

Indian benchmark indices posted a string of higher closes as the Nifty moved back above the 24,000 mark and, in later sessions, pushed past 24,100 and 24,300 intraday. In one session highlighted by broader participation, the Nifty 50 index added 140.10 points or 0.59% to end at 24,005.85, with broader markets also finishing higher. Another close placed the Nifty at 24,102.90, up 89.80 points (+0.37%), while the Sensex ended at 77,094.07, up 291.17 points (+0.38%). The moves came alongside a steady tone in Nifty Bank, which settled at 57,935.60, up 249.85 points (+0.43%).

June 22, 2026: crude, geopolitics and flows support risk appetite

On June 22, 2026, benchmarks ended higher as easing geopolitical tensions and declining crude oil prices supported risk sentiment. The move was also linked to strong buying in Reliance Industries following its AGM announcements, a recovery in IT stocks, and robust foreign investor inflows. In that session, the narrative was of positive momentum despite weakness seen in FMCG and consumer durable stocks. Sector leadership came from Pharma, Healthcare, Media, and Oil and Gas, reflecting improved global risk sentiment and supportive domestic macro conditions mentioned in the update. Alongside the index gains, pockets such as PSU Banks (+0.54%), Metals (+0.54%), Auto (+0.45%), Realty (+0.40%), and Private Banks (+0.31%) also traded higher.

A rebound that snapped a three-day losing streak

A separate rebound session was described as snapping a three-day losing streak, with the Nifty reclaiming the 24,100 mark and the Sensex rallying over 650 points. The tone was broad-based, with all sectoral indices ending in the green and broader markets outperforming the benchmarks. Easing volatility was also flagged through a sharp drop in India VIX. Pharma stocks led the charge, with Sun Pharma cited as a top contributor, while IT stocks recovered and gained over 2% after recent losses. Heatwave-driven demand was also cited as a tailwind for consumer durable stocks in that session.

Heavyweights push the benchmark higher

In another session described as Wednesday trading, strength in heavyweights Reliance Industries, ITC and Bharti Airtel outweighed declines in bank stocks. The Nifty 50 settled 181.95 points or 0.76% higher at 24,177.65, while the BSE Sensex rose 609.45 points or 0.79% to close at 77,496.36. Intraday, the Nifty reclaimed 24,300, rising 1.4%, and the Sensex added over 1,000 points or 1.4% to just below 78,000. The same update noted the Nifty reclaimed 24,100 after open, while the Sensex added 360 points or 0.5% to 77,245.

Stock moves: Reliance, Sun Pharma, SBI and Eternal

On a day when the Nifty moved back above 24,000, Eternal (up 5.82%), State Bank of India (up 1.62%) and Reliance Industries (up 0.97%) were cited as key boosts to the index. Another market update explicitly listed the biggest positive contributors to Nifty 50 gains as Reliance Industries (55.77 points), Sun Pharmaceutical Industries (26.57 points), and HDFC Bank (16.47 points). Reliance also featured in a session where it rebounded sharply to close 2.86% higher after recovering from earlier losses, despite missing quarterly profit estimates, and after having declined 2.5% over the previous two sessions. Separately, Reliance Industries Limited was reported at a closing price of ₹1,324.70, up 1.16%.

Auto stands out: Nifty Auto leads one rally

Sectoral leadership also rotated, with the Nifty Auto index emerging as the top gainer in one session, rising 2.25% led by Maruti Suzuki, M&M and other automobile stocks. In another update, auto shares were reported rising up to 6%, with Ola Electric, Bajaj Auto, Hero MotoCorp, Hyundai Motor, Eicher Motors and Maruti Suzuki among the leaders. That note said the Nifty Auto index advanced 1%, adding to Monday’s nearly 5% jump, amid reports of a possible GST cut on vehicles to boost demand. Separately, another session noted the equity benchmarks rose for a fourth straight session supported by gains in auto shares and index heavyweight Reliance Industries amid positive global cues, with Tata Motors, Reliance Industries, Adani Ports and Special Economic Zone, Bajaj Auto and ETERNAL among the gainers.

How the moves showed up in index levels

The sessions described in the updates included multiple index milestones, from reclaiming 24,000 to closing above 24,260 and later trading above 25,800. A Tuesday session ended with the Sensex at 78,205.98, up 639.82 points or 0.82%, while the Nifty 50 gained 233.55 points or 0.97% to close at 24,261.60 after hitting an intraday high of 24,303.80. Another report said the Nifty crossed 24,000 and closed at 24,092.70, up 194.75 points or 0.81%. A later session described the Sensex closing at 84,363.37 (+0.49%) and the Nifty at 25,843.15 (+0.52%), with broader markets firmer as the mid-cap index rose 0.8% and small-caps gained 0.5%.

Key data points from the reported sessions

Market impact and what investors tracked

Across the sessions, the common drivers were improvements in global risk sentiment, softer crude oil, and continued participation by foreign investors, alongside stock-specific catalysts. Reliance featured repeatedly as a key swing factor for index direction, appearing in both “AGM announcements” buying and separate updates tied to a rebound after earlier losses. Pharma’s role was also prominent, with Sun Pharma cited as a top contributor in a broad-based rebound and again named among the biggest index contributors in another close. IT’s contribution came through a “recovery in IT stocks” and a session where IT gained over 2% after recent losses, helping underpin the broader move. Meanwhile, sector leadership rotated, with autos leading in some sessions and pockets like PSU banks, metals and realty also moving higher in others.

Conclusion

The reported market action shows repeated attempts by the Nifty to hold above 24,000 and build on that base, supported by heavyweight buying and sectoral recovery in pharma, IT and autos. With intraday moves cited up to 24,300 and later closes above 24,260, the updates also underline how quickly leadership rotated between Reliance, pharma names, and cyclicals. The next confirmed cues, as referenced in the updates, remain stock-specific triggers such as Reliance-related announcements and sector news flow around autos and policy chatter.