Key Highlights
- Sensex traded around 75,527, gaining nearly 2.30%.
- Nifty 50 moved above 23,622, rising around 2%.
- Crude oil prices eased after hopes of a possible US-Iran peace deal.
- Rupee strengthened against the US dollar as oil prices cooled.
- Gold and silver prices continued to fall despite geopolitical tension.
- Banking and energy stocks led the market rebound.
- IT stocks remained weak amid AI disruption and US rate concerns.
- Investors will closely watch crude oil, rupee movement, global cues and West Asia headlines next week.
Indian stock market had a green day after a rough week. The Sensex roared back above 75,527 and the Nifty pushed past 23,600, snapping a losing run as crude oil prices eased and the rupee found its footing. One line from Washington did most of the heavy lifting: US President Donald Trump said the United States and Iran could sign a peace deal as soon as this weekend and reopen the Strait of Hormuz. Traders took that as the cue they had been waiting for.
Also Read: Trump Calls Off Iran Strikes, Claims Peace Deal Near as Tehran Denies Final Agreement
Sensex and Nifty Today: a Sharp Rebound
The benchmarks opened with a gap up and kept climbing. By the latest reading in the session, the Sensex traded around 75,527, up about 2.29%, while the Nifty 50 sat near 23,622, higher by roughly 1.99%. That is a jump of well over 1,700 points on the Sensex from Thursday's close of 73,832.55.
Compare that to the past few sessions and you see how fast the mood flipped. On Thursday, June 11, the Nifty slipped to 23,161.60 and the Sensex closed at 73,832.55 as US strikes on Iran rattled risk appetite.
On Monday, June 8, the Sensex had cracked 719 points in a single day when the conflict escalated. Today reversed a big chunk of that pain in one go.
Three Things that Flipped the Market:
- Crude oil cooled as peace-deal hopes took the war premium out of energy prices.
- The rupee strengthened, easing imported-inflation worries.
- Global sentiment improved, with Asian and European markets offering support.
Banks and energy heavyweights led from the front. Broader market breadth turned positive after days of small-cap and mid-cap weakness.
Top Gainers and Losers Today
Top gainers
- Reliance Industries rose as softer crude lifted its energy-to-telecom business and sentiment broadly.
- HDFC Bank, ICICI Bank, and Kotak Mahindra Bank drew fresh buying as investors rotated back into large-cap financials.
- M&M and Sun Pharma added to the advance.
- Among smaller movers, MTAR Technologies jumped over 10%, Netweb gained more than 6%, and Aegis Logistics rose around 2% in early trade.
Top losers
- Coal India lagged as falling energy prices weighed on the counter.
- IT stocks stayed soft. Infosys and HCL Tech have been under pressure on twin fears: AI-led disruption to the services model and worries that US interest rates stay higher for longer. On Thursday, Infosys had dropped about 2.7% and HCL Tech around 2%.
So the rotation today was clear. Money moved into financials and energy, while IT and a few commodity names took a back seat.
Also Read: Indian Stock Market Recovers After Monday Crash; IT, Tech Stocks Lead Gains
Why gold and silver prices are falling?
You asked the right question, because precious metals have not behaved like the safe havens people expect during a war. They have been sliding instead.
Gold today: 24-carat gold trades near ₹1.47 lakh to ₹1.49 lakh per 10 grams, with MCX gold settling around ₹1,47,566 per 10 grams. Retail 22-carat gold sits close to ₹13,350 to ₹13,620 per gram depending on your city. Gold lost about ₹7,520 per 10 grams over two sessions earlier this week and is down roughly ₹10,000 from its recent highs.
Silver today: MCX silver eased to about ₹2,35,505 per kg (down around 0.43%), while retail rates hover near ₹2,49,900 to ₹2,60,000 per kg across major cities.
So why the fall, even with missiles flying in West Asia? A few reasons stack up:
- Hot US inflation. US price data came in at a three-year high. That feeds fears the US Federal Reserve keeps rates elevated, which lifts the dollar and bond yields. Gold pays no interest, so it loses shine when yields rise.
- Profit-booking. Gold ran up hard for months. After that kind of move, traders cash out, and the pullback feeds on itself.
- A muted safe-haven bid. Investors have leaned toward cash and large-cap equities rather than piling into bullion, which capped the usual war-time spike.
- ETF outflows. Gold ETFs saw a record outflow of about ₹725 crore in May, the first such exit in 2026, even as silver ETFs pulled in roughly ₹2,133 crore.
One practical takeaway for buyers: analysts flag the ₹1,45,000 zone on MCX gold as the next major support to watch. Many suggest staggering purchases over a few weeks rather than buying a lump sum into a falling market. And always check for the six-digit HUID hallmark before you pay.
Rupee vs dollar: where the rupee stands now?
The rupee is trading around ₹95.34 per US dollar today, firmer than Thursday's ₹95.78 and better than the ₹95.57 open. Lower crude did the trick, since India imports most of its oil and a cheaper barrel reduces the dollars the country needs to buy.
Step back, though, and the rupee still sits in historically weak territory above 95. Two forces have dragged it there: the recent crude spike and heavy foreign selling in Indian equities. When the rupee weakens, your imported goods, foreign travel, and overseas education all cost more, so this number matters beyond Dalal Street.
Also Read: RBI Monetary Policy Today: Repo Rate Unchanged at 5.25%, No Immediate EMI Shock for Borrowers
Crude oil price today
This is the variable everything else hangs on right now.
- WTI crude trades near $86.5 to $87 a barrel, down from around $92 earlier in the week.
- Brent crude has slipped back toward the $90 mark after spiking close to $97 on June 8 during the worst of the conflict.
The drop came straight after Trump's comments about a possible US-Iran deal and reopening the Strait of Hormuz, the chokepoint that carries a fifth of the world's oil. If that de-escalation holds, cheaper crude helps India's inflation, the rupee, and the fiscal math all at once. If talks collapse, expect the war premium to snap right back.
Stocks and sectors to watch next week
These are the names and themes the Street is tracking, not buy calls. Treat them as a watchlist, not a tip sheet.
- Banks and financials (HDFC Bank, ICICI Bank, Kotak, PSU banks): they led today's rebound and gain the most from cooling crude and a steadier rupee.
- IT majors (Infosys, TCS, HCL Tech, Wipro): beaten down and worth watching for signs of a bottom. A weak rupee helps their export earnings, but the AI-disruption story keeps buyers cautious.
- Energy and oil marketing companies (Reliance, ONGC, Coal India, BPCL, HPCL, IOC): split into two camps. Oil marketers like BPCL and HPCL benefit when crude falls; upstream producers like ONGC do not.
- Defence stocks (BEL, HAL, MTAR): expect sharp moves on every West Asia headline, in both directions.
- IPO action: the primary market stays busy, with Utkal Speciality Industries (allotment around June 15), Susan Electricals, Horizon Reclaim India, and Hexagon Nutrition in focus.