Nifty50 Shariah Index Ends The Day Up By 1.13%

Mumbai, June 16 — The Nifty50 Shariah Index advanced 1.09% intraday on Monday to 4,803.30, buoyed by widespread buying across sectors, with 14 of its 16 constituents posting gains, 2 declining with none left unchanged. The rally was led by heavyweight IT, Pharma and Cement stocks, signaling renewed investor confidence in ethical investing baskets aligned with Shariah compliance.

Index Performance Snapshot (as of 13:44 IST)

Metric	Value
Last Price	4,803.30
Previous Close	4,751.50
Change	+51.80
Percent Change	+1.09%
Day’s Range	4,736.00 – 4,806.15
52-Week High	5,677.90
52-Week Low	4,235.90
Total Traded Volume	3.81 crore
Total Traded Value	₹3,357.44 crore

Top Gainers in Nifty50 Shariah

Company	Last Price (₹)	Change (₹)	% Change
Tech Mahindra	1,696.70	+37.70	+2.27%
UltraTech Cement	11,459.00	+235.00	+2.09%
HCL Technologies	1,725.00	+29.70	+1.75%
Cipla	1,530.60	+25.40	+1.69%
TCS	3,502.20	+56.50	+1.64%

While 14 out of 16 stocks moved upwards, only two stocks, Sun Pharma and Dr. Reddy’s Laboratories, traded in the red, declining 0.5% and 0.96%, respectively, with zero unchanged stocks.

Sectoral & Strategic Context

The rally was broad-based with key support from the IT, Pharma, and Cement sectors. Notably, Tech Mahindra and HCL Technologies saw strong buying interest, supported by sector-wide optimism in IT services.

Index heavyweight UltraTech Cement continued its momentum on expectations of increased infra push post-election, while Cipla and Apollo Hospitals reflected strength in healthcare.

Outlook

The rise, likely driven by renewed optimism in the IT, Pharma, and Cement sectors, reflects investor confidence in strong sector fundamentals and growing interest in ethical, Shariah-compliant investments.

However, despite today’s surge, the Nifty50 Shariah remains down 1.06% YoY and 1.49% over the past month, underperforming broader indices like the Nifty 50. The index is still 15.4% below its 52-week high, offering potential headroom for upside in the coming quarters.

The strong advance-decline ratio highlights robust sentiment among Shariah-compliant portfolios, aligning with the broader bullish tone in the capital market.

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About Nifty50 Shariah Index

The Nifty50 Shariah is a thematic index by NSE that screens India’s top 50 large-cap stocks for Shariah compliance, excluding companies dealing in conventional finance, alcohol, tobacco, pork, gambling, and other non-permissible activities. It is designed to serve investors seeking Islamic finance principles while participating in the Indian equity market.

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