Crude falls, steel rises, PSU banks under the spotlight – a day in all sorts of ways
Indian markets on 17 June 2025 saw a dynamic blend of global cues, firm announcements of companies, and government updates. Crude oil prices dipped marginally, while the mood in metals, especially steel, soared following a historic international pact. Benchmark indices held firm in the face of profit-bookings from major sectors.
Global Snapshot
- Crude Oil: Dipped to $73.59/barrel, relief to all sectors.
- Rupee: Dipped marginally at ₹85.97/USD.
- US Dollar Index: Unchanged at 98 versus a basket of top-tier currencies.
- US 10-Year Bond Yield: At 4.43%.
- India VIX: Fell to 14.59, a measure of falling volatility.
- Gold & Silver: Local prices remained flat at ₹99,100 and ₹1,06,700, respectively.
Japan kept its benchmark interest rate at 0.50%, a sign of policy continuity in the second-largest Asian economy.
Sectoral Buzz & Corporate Announcements
- Steel shares turned positive after confirmation of a bid for NIPPON Steel for $14.9 billion by ex-US President Donald Trump, which gave the sentiment a boost.
- Zee Entertainment to allot 16.95 crore warrants of value ₹2,237 crore to ALTILIS TECH and SUNBRIGHT Investments.
- Biocon raises ₹4,500 crore via QIP with floor price of ₹340.20/share.
- Nazara Technologies allot shares of value ₹495 crore to AXANA ESTATE at ₹990/share.
- TCS collaborates with European Development Bank for next-generation reconciliation systems.
- HCL Technologies inks two significant transformation contracts – with a global product customer and Spanish health insurer ASISA.
- SBI to deploy $3 billion, as NTPC sets for large ₹18,000 crore bond issue.
- Hyundai rolls out passenger vehicle engine production in Maharashtra’s Talegaon.
- Mphasis to boost underwriting tech with acquisition of Sixfold.
- Tanla Platforms declares ₹175 crore buyback of 20 lakh shares at ₹875/share.
- DLF disposed of 1,164 units valued ₹11,000–12,000 crore in a week within four months of PRIVANA NORTH project.
- Siemens consortium wins a ₹4,100 crore bullet train order.
- Strides Pharma to shut down CIS business; Heritage Foods expands with new subsidiary.
- NELCO received national VSAT license for virtual network operations.
- MCX to introduce electricity derivatives in 2025.
PSU Banks Back in Focus
Indian government to disinvest 20% stake in five nationalised banks:
- Indian Overseas Bank (IOB)
- UCO Bank
- Punjab & Sind Bank
- Bank of Maharashtra acquired Central Bank of India
Merchant bankers have been empaneled for this strategic divestment action.
In the meantime, NBCC has won an order worth ₹172 crore from UCO Bank.
Real Estate & Auto
- Godrej Properties bought 16 acres in Pune.
- Maruti Suzuki introduced Grand Vitara S-CNG 2025 priced at ₹13.48 lakh.
- Blue Star and Voltas saw a dip in AC sales during weak demand and off-season.
Market Summary & Index Performance
- Sensex closed at 81,583
- The Nifty 50 closed at 24,853
- The Bank Nifty closed at 55,714
Profit booking was however seen in midcap, smallcap, pharma, metals, auto, oil & gas, realty, and PSE stocks, while fresh retail buying in IT stocks was seen.
Key Takeaways:
- Crude prices dipped, steel rallied with approval of global deals.
- PSU bank divestment scheme brings sector focus back.
- Healthy capital raising by marquee names such as SBI, Biocon, NTPC, and Zee.
- Real estate and auto news suggest selective momentum.
- Broader indices remain range-bound amid rotation across sectors.
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