Benchmarks trade with strong gains; PSU bank shares jump

The key equity indices traded with major gains in mid-morning trade, continuing to show resilience amid escalating tensions between Israel and Iran. Market sentiment remains sensitive to global cues, including crude oil prices and other international developments. The Nifty hovered above the 25,000 level.

PSU Bank shares rallied after declining in the past three trading sessions.

At 11:25 IST, the barometer index, the S&P BSE Sensex advanced 688.06 points or 0.85% to 82,049.93. The Nifty 50 index jumped 216.20 points or 0.87 to 25,010.80.

In the broader market, the S&P BSE Mid-Cap index rose 0.98% and the S&P BSE Small-Cap index added 0.85%.

The market breadth was strong. On the BSE, 2,519 shares rose and 1,155 shares fell. A total of 174 shares were unchanged.

IPO Update:

The initial public offer (IPO) of Arisinfra Solutions received bids for 2,12,94,945 shares as against 1,30,84,656 shares on offer, according to stock exchange data at 11:21 IST on Friday (20 June 2025). The issue was subscribed 1.63 times.

The issue opened for bidding on Wednesday (18 June 2025) and it will close on Friday (20 June 2025). The price band of the IPO is fixed between Rs 210 and 222 per share. An investor can bid for a minimum of 67 equity shares and in multiples thereof.

Buzzing Index:

The Nifty PSU bank index jumped 2.16% to 6,879.65. The index fell 3.14% in the past three trading sessions.

Union Bank of India (up 2.93%), Canara Bank (up 2.01%), Central Bank of India (up 1.56%), Bank of Baroda (up 1.32%), Indian Overseas Bank (up 1.18%), State Bank of India (up 1.09%), Bank of Maharashtra (up 0.91%), Indian Bank (up 0.79%), Punjab & Sind Bank (up 0.7%) and UCO Bank (up 0.63%) advanced.

Stocks in Spotlight:

Premier Explosives rose 0.55%. The company announced that it has secured a purchase order worth Rs 6.62 crore from an international client for the manufacture and supply of defence products.

Suzlon Energy added 2.14% after the company has bagged its third successive order from Ampin Energy Transition (AMPIN) for the development of a 170.1 MW wind power project in Kurnool, Andhra Pradesh.

Global Markets:

US Dow Jones futures were down 125 points, signaling a weak start for Wall Street. Wall Street was closed on Thursday for the Juneteenth holiday.

Most Asian markets traded higher on Friday as investors assessed China data and monitored escalating tensions between Israel and Iran.

U.S. President Donald Trump is now weighing on whether to back the Israeli military and strike Tehran. The White House said that he will make a final decision within the next two weeks.

Japan's core consumer price index (CPI), which excludes volatile fresh food costs, rose 3.7% in May from a year earlier, data showed on Friday, accelerating from a 3.5% increase in April.

China kept its benchmark lending rates unchanged Friday. The People's Bank of China held the 1-year loan prime rate at 3.0% and 5-year LPR at 3.5%, according to a statement Friday.

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