Weekly Update- 21st June 2026

NIFTY50

NIFTY50 closed near 24,013 on the weekly chart and formed another positive candle after a sharp recovery from the April lows, indicating that buyers continue to defend declines despite intermittent profit booking. The index is now attempting to establish itself above the 24,000 psychological level, which keeps the broader structure constructive. Market sentiment remains favorable as sustained buying interest across key sectors continues to support the uptrend. The ability to maintain higher highs and higher lows on the weekly timeframe reflects underlying strength and improving investor confidence. Support is placed at 23,800 and 22,800, while resistance is seen at 24,250 and 24,600. The trend remains bullish and sustained trading above 23,800 can pave the way for a gradual move towards fresh highs over the coming weeks.

BANKNIFTY

BANK NIFTY closed near 57,686 and continued to build on its recent recovery, forming a constructive weekly structure after rebounding strongly from the 50,000–52,000 region. Private banks and large financials are supporting the advance, while the index is gradually approaching a major historical supply zone. Improving credit growth expectations, stable asset quality trends, and continued participation from heavyweight banking stocks are helping maintain positive momentum. The overall price structure suggests that buyers remain in control, although some volatility may emerge near important resistance levels. Support is placed at 56,000 and 54,000, while resistance is seen at 58,200 and 60,900. The trend remains bullish, and a decisive breakout above 58,200 could accelerate momentum towards the previous all-time high region near 61,000.

TOP GAINING SECTOR

NIFTY DEFENCE was top gainer sector for the week

Major gainers were:-

PARAS DEFENCE:- up by 28.39%

MTAR TECH:- up by 16.97%

ASTRA MICROWAVE:- up by 16.64%

BHARAT DYNAMICS LIMITED:- up by 14.43%

TOP LOSING SECTOR

NIFTY IT was top losing sector for the week

Major losers were:-

INFOSYS:- down by 5.82%

TCS:- down by 1.68%

TECH MAHINDRA:- down by 1.37%

LTM:- down by 0.32%

IMPORTANT NEWS

• India’s merchandise exports grew 18% in May, indicating strong global demand despite ongoing geopolitical uncertainties and trade-related challenges. Growth was supported by engineering goods, electronics, and other key export sectors, highlighting the competitiveness of Indian manufacturers in international markets. However, imports also remained elevated, widening the trade deficit to $28.21 billion. Despite this, the strong export momentum remains a positive signal for India’s manufacturing economy, export-oriented industries, and long-term trade outlook.

• Jio Platforms entered the global top 20 patent filers ranking published by WIPO, highlighting its growing innovation and research capabilities. The achievement reflects increasing investments in technology, digital infrastructure, artificial intelligence, and telecommunications. It strengthens India’s position in the global technology landscape and showcases the country’s evolving intellectual property ecosystem. The milestone also underlines the growing role of Indian companies in driving innovation and developing globally competitive technologies.

• India and Nepal launched a direct linkage between UPI and Nepal’s payment network, enabling instant cross-border fund transfers. The initiative strengthens financial connectivity between the two countries and expands UPI’s international reach. Faster, more efficient, and lower-cost remittances benefit both businesses and consumers while encouraging greater adoption of digital payment systems. The move further enhances India’s leadership in digital payment infrastructure and demonstrates the growing global acceptance of its fintech ecosystem.

• The government has asked states to speed up approvals and implementation of nuclear power and energy storage projects. The initiative supports India’s long-term energy security goals and its transition toward a cleaner and more sustainable energy mix. Greater deployment of storage solutions will improve grid reliability, renewable energy integration, and power system efficiency. Power, engineering, EPC, and infrastructure companies could benefit significantly from the expected rise in investments across these strategic sectors.

• India expects delivery of 24 Tejas Mk1A fighter aircraft by the end of the year, marking significant progress in indigenous defence manufacturing. The programme strengthens India’s self-reliance in aerospace and defence technology while reducing dependence on imported military equipment. Increased production is expected to benefit defence suppliers, component manufacturers, and technology partners involved in the supply chain. The development supports the long-term growth of India’s defence ecosystem and reinforces the government’s focus on expanding domestic defence capabilities.