Indian equity benchmarks, Sensex and Nifty50, surged as hopes for a truce between the US and Iran after US President Donald Trump said that Washington has reached a great settlement with Iran, and only the finalisation of the document remains.
At the closing bell, the BSE Sensex closed points 1,695 higher (up 2.3%)
Meanwhile, the NSE Nifty closed 461 points higher (up 1.9%)
Bajaj Finance, Titan Company, and Eternal were the top gainers today.
Tech Mahindra, Power Grid Corp, and HCL Tech, on the other hand, were among the top losers today.
The GIFT Nifty was trading at 23,671 with 269 points higher at the time of writing.
The BSE 150 Midcap index is trading 2.3% higher, and the BSE 250 SmallCap index is trading 2.6% higher.
Sectoral indices were trading positively today, with the banking sector and realty sector witnessing buying.
The rupee is trading at Rs 95.1 against the US$.
Gold prices for the latest contract on MCX are trading 1.1% higher at Rs 1,50,698 per 10 grams.
Meanwhile, silver prices were trading 1.6% lower at 2,43,698 per 1 kg.
4 reasons why Indian share markets are rising:
#1 US-Iran Peace Deal Hopes
Investor sentiment improved after US President Donald Trump called off planned military strikes on Iran and indicated that a peace agreement could be reached soon. A potential deal could lead to the reopening of the Strait of Hormuz, a key global oil shipping route. The easing of geopolitical tensions boosted confidence in financial markets.
#2 Global Markets Rally
Global stock markets moved higher after the positive developments between the US and Iran. US markets closed with strong gains overnight, while Asian markets also rallied sharply, led by Japan and South Korea. The broad-based rise in global equities supported investor sentiment across markets.
#3 Falling Crude Oil Prices
Crude oil prices declined after concerns over a possible conflict in the Middle East eased. Lower oil prices are beneficial for India as they help reduce import costs, ease inflation pressures, and improve corporate profitability. This positive outlook supported buying interest in Indian equities.
#4 Banking Stocks Rally
Banking stocks gained after the RBI introduced a concessional forex swap facility for banks' overseas borrowings. The move is expected to improve liquidity in the banking system and lower funding costs for banks. Better liquidity could help banks increase lending, which boosted investor confidence in the sector.
Cyient Fixes Record Date for Buyback
Shares of Cyient came into focus after the company announced that it had fixed the record date for the buyback of equity shares from eligible shareholders.
Cyient has announced 17 June 2026 as the record date to determine which shareholders will be eligible to participate in its share buyback.
The company plans to buy back up to 6.4 million shares at a price of Rs 1,125 per share, with a total buyback size of up to Rs 7.2 billion.
Commenting on the decision, management said the board believes the company's current market price does not fully reflect its intrinsic value. Through the buyback, Cyient aims to reward shareholders while demonstrating confidence in the strength of its business.
The company also stated that despite undertaking the buyback, it expects to generate strong cash flow and will continue investing in future growth opportunities.
Oil India Signs Clean Energy Partnership
Oil India Limited (OIL) has signed a collaboration agreement with Petroleum Technology Research Centre (PTRC) to work together on clean energy and sustainability projects.
The agreement was signed during the Global Energy Show 2026 and aims to strengthen cooperation between India and Canada in areas such as carbon capture, utilization and storage (CCUS), geothermal energy, enhanced oil recovery, and other clean energy technologies.
Under the partnership, the two organizations will explore ways to store and utilize captured carbon dioxide, develop environmentally friendly oil and gas production methods, identify geothermal energy opportunities, and conduct joint research on underground energy production and storage. They will also collaborate with energy startups through the government's mc2+ innovation platform.
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