Market Commentary End Session News Details

Sensex surges 1,695 pts, Nifty tops 23,600 as oil tumbles on US-Iran peace hopes

(12-Jun-26   16:37)

The benchmark indices surged on Friday amid easing US-Iran tensions and hopes of a peace deal. Investor sentiment improved after Brent crude fell to $87 per barrel mark. Buying was broad-based, with all major sectoral indices ending in the green. Private banks and financial stocks rallied, helping the Nifty close above 23,600.

The S&P BSE Sensex jumped 1,695.40 points or 2.30% to 75,527.95. The Nifty 50 index soared 461.30 points or 1.99% to 23,622.90.

Larsen & Toubro (up 4.87%), HDFC Bank (up 3.67%) and Reliance Industries (up 2.64%) boosted the Nifty today.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index surged 2.37% and the BSE 250 SmallCap Index climbed 2.60%.

The market breadth was strong. On the BSE, 3,222 shares rose and 1,046 shares fell. A total of 171 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 5.73% to 14.72.

Economy:

India's retail inflation, measured by the Consumer Price Index (CPI), rose to 3.93% in May 2026 from 3.48% in April, according to provisional data released by the Ministry of Statistics and Programme Implementation on Friday. The reading was the highest so far in 2026, compared with 2.75% in January. Food inflation, based on the Consumer Food Price Index (CFPI), accelerated to 4.78% in May from 4.20% in the previous month.

Numbers to Track:

The yield on India's 10-year benchmark federal paper slipped 0.39% to 6.870 compared with previous session close of 6.897.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.1900 compared with its close of 95.8500 during the previous trading session.

MCX Gold futures for 05 August 2026 settlement jumped 1.05% to Rs 150,499.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.13% to 99.71.

The United States 10-year bond yield declined 0.20% to 4.452.

In the commodities market, Brent crude for July 2026 settlement dropped $3.27 or 3.62% to $87.11 a barrel.

Global Markets:

US Dow Jones futures were up 249 points, indicating a positive start for Wall Street later today.

European indices traded sharply higher on Friday after investors received stronger signals that a peace agreement between the United States and Iran could be near.

Asian indices also ended higher after US President Donald Trump suggested that Washington and Tehran could soon sign a peace deal.

Speaking to reporters in the Oval Office on Thursday, Trump said an agreement was close to completion and could be signed soon. He added that Iran would never possess a nuclear weapon under the proposed deal.

Markets had already rallied earlier after Trump said in a Truth Social post that he had called off planned strikes on Iran.

Investors are also closely watching the debut of SpaceX on the Nasdaq. The company will list under the ticker symbol SPCX at a fixed price of $135 per share, implying a valuation of about $1.77 trillion.

SpaceX plans to sell 555.6 million shares, raising approximately $75 billion. If completed, it would become the largest initial public offering in history, surpassing Alibaba's $22 billion IPO in 2014.

Overnight, US stocks closed sharply higher. Sentiment improved after Trump called off the planned strikes on Iran and reiterated that a deal with the country could be signed soon.

The S&P 500 rose 1.75% to 7,394.30. The Nasdaq Composite gained 2.54% to 25,809.66. The Dow Jones Industrial Average climbed 929.97 points, or 1.86%, to 50,848.75.

New Listing:

Shares of Hexagon Nutrition settled at Rs 50.39 on the BSE, an 11.98% premium against the issue price of Rs 45.

The stock debuted at Rs 48, a premium of 6.67% to the issue price. The stock hit a high of Rs 50.39 and a low of Rs 48. On the BSE, over 14.20 lakh shares of the company were traded in the counter.

Stocks in Spotlight:

Nestle India dropped 3.23% on reports that the Food Safety and Standards Authority of India issued a notice over alleged insect detection in Maggi. The response from the company is awaited.

Tata Motors Passenger Vehicles added 4.02% after the company said it will increase prices of its cars and SUVs by up to 1.5% from 1 July 2026, across its internal combustion engine (ICE) and electric vehicle (EV) portfolio.

Jayant Infratech surged 17.24% after the company announced that it had received a Letter of Acceptance (LoA) worth Rs 16.54 crore from South East Central Railway, Bilaspur, for the execution of railway overhead electrification works.

GNG Electronics rallied 3.44% after the company's promoter, Vidhi S. Khandelwal, sold a 3.94% stake through the open market route for approximately Rs 175 crore, to comply with minimum public shareholding (MPS) norms. With this, the shareholding of the promoter and promoter group members in the company has reduced from 78.71% to 74.77%.

PCBL Chemical rose 4.43% after the company commissioned a new specialty production line with a gross capacity of 20,000 metric tonnes per annum (MTPA) at its Mundra plant in Gujarat.

Hitachi Energy India added 3.31% after the company said that it would invest Rs 2000 crore to establish a new large power transformer (LPT) factory in Karjan, Vadodara, India. The investment builds on the company's 77-year history in India and its commitment to strengthening its manufacturing footprint to support the growing demand for electricity in the country and worldwide.

Ratnaveer Precision Engineering advanced 2.33% after the company's board approved a proposal to raise up to Rs 330 crore through a rights issue. The company will issue fully paid equity shares having a face value of Rs 10.00 each to the eligible equity shareholders on a right basis, aggregating up to Rs 330.00 crore.

Dabur India rose 1.14%. The company said the United States Food and Drug Administration (USFDA) issued Import Alert 66-40 for drugs made at part of its Silvassa facility after an inspection flagged data integrity and maintenance deficiencies.

AVG Logistics advanced 6.05% after the company announced that it had secured a long-term transportation contract from Haldiram Nagpur, a leading player in India's FMCG sector. Under the agreement, AVG Logistics will deploy 100 dedicated vehicles to support Haldiram Nagpur's logistics and distribution operations across western and southern India, as well as key eastern states, including Odisha, Bihar, and Jharkhand.

Gujarat Inject Kerala jumped 3.75% after the company announced that it had secured a purchase order worth Rs 14.49 crore from Deon Energy for the supply of 16,129 units of 620 WP solar panels.

Concord Biotech rose 1.02%. The company announced the successful completion of an inspection conducted by Brazil's National Health Surveillance Agency (ANVISA) at its active pharmaceutical ingredient (API) manufacturing facility in Limbasi.

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