Indian Stock Market Opens Higher Amid Global Weakness

The Indian stock market opened positively today, with the Sensex and Nifty indices showing gains despite global market weaknesses. Key stocks like Tech Mahindra and Infosys led the way, while concerns about a deficient monsoon and its potential impact on growth linger. Experts suggest that while volatility in semiconductor stocks continues, the Indian market remains resilient. Investors are encouraged to adjust their portfolios in light of emerging risks, particularly in sectors sensitive to rural income fluctuations. Read on for a detailed analysis of the current market situation.

By Narendra Chaudhary Jun 24, 2026, 09:47 IST

Market Overview

The Indian stock market began the trading session positively, with the Sensex rising by 126 points, or 0.17%, reaching 76,327.33. The Nifty index also saw an increase of 35.25 points, or 0.15%, to settle at 23,859.35, despite unfavorable cues from global markets. Out of the total shares traded, 1,414 advanced, while 849 declined, and 156 remained unchanged. Notable gainers on the Nifty included Tech Mahindra, Adani Enterprises, Infosys, Dr. Reddy's Labs, and ICICI Bank. Conversely, Bajaj Auto, Hindalco, Bharti Airtel, HCL Tech, and Grasim were among the laggards.

VK Vijayakumar, Chief Investment Strategist at Geojit Investments, commented on the global market trends, stating that a significant drop in semiconductor stocks had led to a downturn in international markets. The South Korean Kospi index fell by 10%, which raised concerns across other markets, with the Nikkei and Nasdaq experiencing corrections of 3% and 2.2%, respectively. However, India remained relatively insulated, with the Nifty only declining by 1.16%.

In the morning session, the Kospi rebounded, driven by gains in Samsung. Vijayakumar noted that ongoing volatility in semiconductor stocks is expected, particularly in markets like South Korea and Taiwan. He mentioned that sharp price increases could lead to profit-taking, while significant corrections might encourage buying. Despite the volatility, the profitability of semiconductor companies remains strong, although concentration risks are elevated.

On a positive note, the recent drop in Brent crude prices below $77 has alleviated some macroeconomic pressures for India. The Indian Rupee has stabilized, and foreign institutional investor (FII) selling seems to have slowed down, which is a favorable sign for the market.

However, a new concern has emerged regarding the monsoon, which is currently 43% deficient. This could potentially affect India's growth and corporate profits, albeit marginally. Investors are advised to adjust their portfolios to mitigate this risk, particularly in sectors such as FMCG and entry-level two-wheelers, which may be adversely affected by declining rural incomes. In contrast, the pharmaceutical sector, known for its inelastic demand, is expected to remain resilient and may even outperform during this monsoon-deficient period.