INDICES TRADE IN POSITIVE TERRAIN; IT SHARES RALLY FOR 2ND DAY

Published on Jun 16, 2026 11:31

The key equity barometers traded with moderate gains in mid-morning trade, amid US and Iran reached a ceasefire agreement. Softer crude oil prices, easing geopolitical concerns, and a stronger rupee supported investor sentiment. Market participants will continue to watch monsoon developments, FII activity, and inflation trends for further direction. Nifty traded above the 23,900 level.

IT shares witnessed buyiung demand for second consecutive trading sessions.

At 11:25 IST, the barometer index, the S&P BSE Sensex added 372.78 points or 0.50% to 76,647.26. The Nifty 50 index jumped 92.75 points or 0.39% to 23,945.80.

In the broader market, the BSE 150 MidCap Index gained 0.13% and the BSE 250 SmallCap Index added 0.25%.

The market breadth was strong. On the BSE,1,386 shares rose and 2,803 shares fell. A total of 216 shares were unchanged.

In the commodities market, Brent crude for August 2026 settlement fell 42 cents or 0.50% to $82.75 a barrel.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 94.6825 compared with its close of 95.5800 during the previous trading session.

Buzzing Index:

Nifty IT Index rallied 1.13% to 28,384.10. The index climbed 2.12% in the two consecutive trading sessions

HCL Technologies (up 2.76%), Persistent Systems (up 2.69%), Coforge (up 2.38%), Tata Consultancy Services (up 1.27%), Tech Mahindra (up 1.26%), Oracle Financial Services Software (up 1.02%), LTM (up 1%), Infosys (up 0.87%), Wipro (up 0.67%) and Mphasis (up 0.13%) surged.

Stocks in Spotlight:

Indian Railway Catering and Tourism Corporation (IRCTC) rose 0.42%. The company announced that Sudhir Kumar, GM (Finance), has ceased to be CFO, KMP and senior management personnel with effect from 15 June 2026.

Bandhan Bank declined 1.21%. The bank said that its board has approved the proposal for sale of identified non-performing assets (NPA) that have principal outstanding amounting to Rs 303.74 crore to asset reconstruction companies.

Godavari Biorefineries rallied 5.54% after the company announced that the japanese patent office had granted a patent for its invention, 5-Hydroxy-1,4-Naphthalenedione, for use in the treatment of cancer.

Global Market:

Most Asian market advanced on Tuesday as investors continued to assess the details of a potential deal between the U.S. and Iran to end the ongoing conflict.

Early this week, President Donald Trump announced that the U.S. and Iran had reached a deal to end the war in the Middle East.

Pakistani Prime Minister Shehbaz Sharif said that both sides have declared the termination of their military operations on all fronts, with an official signing ceremony to take place this Friday in Switzerland. A senior Trump administration official has reportedly said that the memorandum of understanding was already signed electronically on Sunday.

The president also said that the key Strait of Hormuz passageway would reopen on Friday, sending oil prices down nearly 5% on Monday. Vice President JD Vance reportedly said that the strait would �be opened in a toll-free way for the long term.�

Meanwhile, the Bank of Japan (BOJ) hiked the policy rates to 1.0%, this marks a 31-year high for interest rates. This is the BOJ�s first hike since December, when it raised rates to its current level of 0.75%, and the first time since 1995 that rates have been raised to 1%.

Further, China�s retail sales fell for the first time in more than three years in May, signaling a deepening economic slump, according to data released Tuesday by the National Bureau of Statistics.

Retail sales, a gauge of consumption, declined in May for the first time since December 2022, dropping 0.6% from a year earlier.

Industrial output was the lone bright spot, rising 4.5% in May to top widely reported estimates of 4.3% growth and rebounding from April�s near three-year low of 4.1%.

The Chinese national unemployment rate fell to 5.1% in May, compared with 5.2% in April.

Overnight on Wall Street, stocks rose on Monday to kick off the holiday-shortened trading week as SpaceX extended its rally and after President Donald Trump announced that an agreement had been reached to end the war between the U.S. and Iran.

The Dow Jones Industrial Average added 468.77 points, or 0.92%, for a record close of 51,671.03. The 30-stock index also hit a new all-time intraday high during the session. The S&P 500 climbed 1.65% to 7,554.29, while the Nasdaq Composite popped 3.07% to end at 26,683.94.