Stock Market News Today Live Updates: Nifty Above 24,100, Sensex Gains 400 Points; Kirloskar Oil Surges 14%

• The Department of Telecommunications released draft rules for spectrum allocation to services that receive spectrum without auctions, including VSAT, DTH, teleports, broadcasting services and BSNL satellite phone services.
• The draft does not cover Starlink, OneWeb and Jio’s satellite broadband services, with no mention of NGSO satellite operators. Stakeholder consultations will remain open for 30 days, while separate rules on spectrum allocation and pricing for satellite internet services are still awaited.

• Harish Krishnan of Aditya Birla Sun Life AMC told NDTV Profit that he is positively biased towards equities and prefers midcaps and smallcaps in the market. He said the fund has 40% exposure to midcap and smallcap stocks.
• Krishnan said AI implementation can reduce incremental costs and improve customer journeys. He said value retail, consumer discretionary in midcaps and some chemical stocks look favourable, while raw material availability remains a concern due to the war.

Unlike expiry sessions that often distort positioning, today's setup reflects genuine directional conviction.

The options data suggests:

• Nifty Support: 24,100
• Nifty Resistance: 24,200
• Bank Nifty Support: 57,800
• Bank Nifty Resistance: 58,000
• Positional Bank Nifty Floor: 57,000

With no expiry-led adjustments in play, the migration of Nifty support from 24,000 to 24,100 indicates that traders have turned incrementally more constructive, even as headline indices remain below their levels seen since the previous expiry.

Fresh short build-up was also visible in:

• Nykaa
• Cummins India
• Dixon Technologies
• Adani Ports
• Union Bank
• Motherson

The trend suggests traders remain cautious on select pockets of the market.

• Aurobindo Pharma topped the fresh shorts category, with prices declining while open interest rose 34.75%.
• The setup reflects aggressive bearish positioning.

Infosys featured prominently in the short-covering list as prices advanced while open interest declined.

The move indicates bearish traders were forced to exit positions.

Other stocks witnessing short covering included:

• M&M
• IOC
• PNB
• Jio Financial Services
• Bank of Baroda
• Persistent Systems

Other counters witnessing long unwinding included:

• Ultratech Cement
• Power Grid
• Marico
• ABB
• Alkem
• CAMS

The trend suggests profit booking rather than aggressive fresh shorts.

• Solar Industries topped the liquidation screen, with prices declining alongside a reduction in open interest.
• The setup points towards investors exiting existing long positions.

Other stocks witnessing accumulation included:

• PFC
• OFSS
• Cipla
• PNB Housing Finance
• Manappuram Finance
• LIC Housing Finance

The pattern of rising prices and higher open interest suggests bullish positioning.

• Sonata Software emerged as the strongest accumulation candidate, with futures open interest rising 126.77%, accompanied by gains in price.
• The setup points towards fresh long creation.

Among stocks showing sharp increases in total open interest:

• PI Industries: 201.30%
• TCS: 107.49%
• Persistent Systems: 159.67%
• Naukri: 115.12%

The build-up highlights active participation across select large-cap names.

• Wipro saw total open interest rise 227.53%, despite the stock falling 27.68% since the previous expiry.
• The divergence suggests continued speculative activity and elevated trader interest.

• Nifty Fin Service registered a 935.20% jump in total open interest since the previous expiry.
• It remains the standout performer in terms of derivative participation growth.

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• Bank Nifty's total open interest has jumped 124.72% since the previous expiry, reaching 15.57 lakh contracts, even as the index has slipped 0.68%.
• The build-up suggests sustained interest in banking derivatives.

• Nifty has declined 6.88% since the previous expiry, while total derivative open interest has surged 164.02% to 1.26 crore contracts.
• The rise in participation despite the decline points to aggressive positioning by market participants.

Open interest distribution highlights:

• Highest Call OI: 58,000 strike
• Highest Put OI: 57,000 strike
• Fresh Put additions: 57,800 strike

While positional support remains at 57,000, the latest flows suggest the near-term range has moved up to 57,800–58,000.

• Nifty Mid Select rose 9.47%, accompanied by a 196.96% increase in total open interest.
• The combination reflects continued appetite for mid-cap exposure.

• Fresh Put additions were concentrated at the 24,100 strike, where traders added more than 20 lakh contracts, making it the strongest support zone of the current weekly series.
• Additional Put writing was visible at 24,000 and 24,200, indicating confidence that the index could hold above the 24,000 mark.

• Fresh Put additions remained concentrated at the 57,800 strike, followed by 57,900 and 57,700.
• The data indicates traders are willing to defend declines towards the 57,800 zone.

• Fresh Call additions in Bank Nifty were strongest at the 58,000 strike, where over 3.8 lakh contracts were added.
• Further Call writing was seen at 57,800 and 57,900, reinforcing the resistance zone.

• The highest Call OI concentration at 24,200 implies that a sustained move above this level could force Call writers to unwind positions.
• Such a development could pave the way for a move towards 24,300–24,500.

• Despite the shift higher in support, the 24,000 strike continues to witness sizeable Put OI, suggesting that any deeper correction towards this level could attract buying support.
• A break below 24,000 could trigger a reassessment of bullish positions.

Open interest distribution shows:

• Highest Put OI: 24,100 strike

• Highest Call OI: 24,200 strike

• Significant Call OI: 24,100 strike

This indicates a narrower trading range, with traders expecting Nifty to oscillate between 24,100 and 24,200.

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• Blue Cloud Softech said it is exploring a potential AI deal with SpaceX International, according to an exchange filing.
• The company said it is considering possible areas for a pact and has only established a framework at this stage.

• Call writers were active at 24,100, followed by 24,200 and 24,300 strikes.
• The sharp Call additions suggest that traders expect the upside to remain capped near the 24,100–24,200 zone, making it the immediate hurdle for the index.

• Aavas Financiers said media reports citing discrepancies in its loans and a purported refinancing reversal from NHB were misleading and malicious.
• The company said the reports did not accurately reflect its engagement with NHB, according to an exchange filing.

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• Kirloskar Oil Engines rose 14.27% to Rs 2,275.70 after the company secured a 192 MW data centre order from HyperNext.
• The order covers 96 units of Optiprime power systems and will support the company’s presence in digital infrastructure.

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Nifty rose as much as 0.5% to 24,133.70 in early trade, while the Sensex gained as much as 0.6%, or 421 points, to 77,223.78.

• Nifty 50 rose 0.41% in pre-open trade to 24,111, while the Sensex gained 0.44% to 77,140.86.
• The Nifty added 97.90 points and the Sensex advanced 337.96 points in early indications.

The rupee opened lower on Monday and depreciated as much as 12 paise to 84.34 against the US dollar.

• Kotak Securities upgraded IOCL, BPCL and HPCL to Reduce from Sell. It raised IOCL’s target price to Rs 150 from Rs 120, BPCL’s to Rs 320 from Rs 245 and HPCL’s to Rs 400 from Rs 275.
• JPMorgan said petrol and diesel margins for OMCs have moved back above pre-conflict levels. It said Q1FY27 earnings may be hit by inventory losses, while Q2 profitability should improve.
• Kotak Securities cut its FY27 Brent assumption to $85 per barrel from $95 per barrel and said OMCs are unlikely to report losses in FY27. JPMorgan said LPG losses remain high but may move lower with oil prices, while debt build-up and any future excise duty increase remain key factors for valuations.

• Morgan Stanley said Xiaomi’s entry into home appliances needs monitoring as India’s FMEG market has several brands, consumer segments and price points.
• The brokerage said building scale in the traditional general trade channel would need sustained effort and a differentiated strategy. It expects commodity-led margin pressure for domestic players in the near term and competitive intensity over the medium term.

• Morgan Stanley’s Ridham Desai said India is entering an earnings cycle that could reverse trailing underperformance in medium-term stock market returns.
• The brokerage said earnings could compound by more than 15% over the next five years. It listed financials, consumption, industrials and IT services among its preferred sectors.

• KSH International’s six-month lock-in period ends on June 22 for 1 million shares, according to the update.
• The shares are valued at $8 million and account for 1% of the company’s total outstanding equity.

• Nomura maintained its Buy rating on Dr Reddy’s Laboratories and raised the target price to Rs 1,740 from Rs 1,600.
• The brokerage said Dr Reddy’s shift towards branded businesses could support profit margins and earnings growth. It also said a potential launch of biosimilar Abatacept could add upside to FY28 and FY29 estimates.

• CLSA maintained its Outperform rating on Amber Enterprises with a target price of Rs 8,100, while JPMorgan kept a Neutral rating with a target price of Rs 7,650.
• Kotak Securities maintained its Buy rating and raised the target price to Rs 8,710 from Rs 8,150. The brokerages cited Amber’s Oppo partnership, mobile manufacturing structure and plans for component manufacturing as key points in their reports.

• RVNL received a Rs 2,977 crore order from NMDC, while Power Mech won a Rs 1,008.9 crore order from JSW Thermal Energy and Bharat Forge signed a Rs 425 crore contract with the Defence Ministry.

• Sun Pharma will acquire Innovcare Lifesciences for Rs 271.2 crore. Lloyds Enterprises will buy a 17.98% stake in Steel Infra Solutions for Rs 1,073 crore, while Amber Enterprises’ unit Il Jin Electronics will acquire a 37.5% stake in Ascent for Rs 328 crore.

• Tata Motors CV received orders for 3,400 electric commercial vehicles. Avenue Supermarts opened one store in Gandhinagar, taking its total store count to 501, while Voltas crossed 1 million AC sales in FY27 in 81 days.

• Brent crude futures reversed early gains on Monday after Qatar and Pakistan said US and Iranian officials had agreed on a roadmap to work towards a final deal within 60 days.
• Brent crude futures for August fell 0.38% to $80.26 a barrel after rising earlier in Asian trade.

• The US and Iran made progress in Switzerland on Monday towards a final deal within 60 days, according to a joint statement by mediators Qatar and Pakistan.
• The parties agreed to set up a High Level Committee to oversee mediation and create working groups on nuclear, sanctions and dispute resolution. They also agreed to establish a de-confliction cell involving the US, Iran and Lebanon to end hostilities in Lebanon.

• Iran’s Foreign Minister Abbas Araghchi said on X that Pakistani and Qatari mediation had made progress towards ending the Lebanon war.
• He said oil and petrochemical exports had been waived, a blockade lifted, some frozen assets released and a reconstruction and development plan launched for Iran. He added that the first test would be the Lebanon deconfliction cell.

• Asia-Pacific markets opened mixed on Monday as crude oil prices rose amid uncertainty over the Middle East conflict and continuing US-Iran talks in Switzerland.
• Japan’s Nikkei 225 rose 2%, while South Korea’s Kospi gained 1.6%. Topix advanced 1.28%, Australia’s S&P/ASX 200 was marginally higher, while Kosdaq, Hang Seng futures and Shanghai traded lower.

• Oil prices rose on Monday after US President Donald Trump threatened renewed military action against Iran, while US and Iranian officials held talks in Switzerland under an interim peace agreement.
• Brent crude futures for August rose 1.23% to $81.56 a barrel. US West Texas Intermediate futures for July gained 3.04% to $78.93 per barrel after Iran said it had again closed the Strait of Hormuz.

• GIFT Nifty, an early indicator of the Nifty 50’s performance, traded at 24,157.50 in early trade.
• The contract was 144.40 points above Friday’s Nifty 50 close of 24,013.10.