Nifty50 and Sensex Rise on Pharma and IT Gains
The Nifty50 index rose 0.16% to 23,862.75, while the Sensex gained 0.26% to 76,401.02 by 10:00 AM on June 24, 2026, driven by gains in pharma and healthcare stocks, as well as IT sector momentum. Oracle Financial Services Software, Tech Mahindra, and Infosys were among the top performers in the Nifty IT index, according to data from the National Stock Exchange (NSE).
India Boosts Domestic Coal Use at Import-Based Power Plants
India is increasing domestic coal usage to over 50% at power plants designed to run on imported coal, aiming to reduce costly overseas purchases, officials and industry sources said. This shift aligns with broader efforts to stabilize energy costs amid global market volatility, as reported by Reuters.
Bajaj Auto Shares Drop Ahead of Share Buyback Ex-Date
Bajaj Auto’s share price fell nearly 3% to ₹9,758 on the NSE on June 24, 2026, as the stock traded ex-date for its proposed share buyback. The decline followed reports of the company’s revised buyback timeline, according to Bloomberg.
Oil Prices Fall on Expected Improved Gulf of Hormuz Flow
Biocon Partner Secures $55 Million in Malaysian Insulin Contracts
Biocon’s partner, Duopharma Biotech Berhad, secured multiple insulin contracts from Malaysia’s Ministry of Health, valued at over Malaysian Ringgit 225 million ($55 million) in 2026. The deals highlight growing demand for affordable diabetes treatments in Southeast Asia, per a company statement.
Nifty Metal Index Slumps Amid Tata Steel and Hindalco Pressure
The Nifty Metal index fell over 1%, with Hindustan Copper, Steel Authority of India (SAIL), and National Aluminium Company (NALCO) leading losses. The decline followed weaker demand forecasts for industrial metals, according to Bloomberg.
Broader Markets Mixed as Midcap Gains Offset Smallcap Declines
The Nifty Midcap 100 rose 0.12%, while the Nifty Smallcap 100 fell 0.02% at the open. The India VIX, a volatility gauge, stood at 14.08, indicating moderate market uncertainty, per NSE data.
Shilpa Medicare Launches ADC GMP Manufacturing Unit
Shilpa Medicare’s subsidiary, Shilpa Biologicals, commissioned a state-of-the-art antibody-drug conjugate (ADC) manufacturing facility compliant with US FDA and European Medicines Agency standards. The unit aims to support global oncology drug development, according to a company press release.