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Indices extend winning streak for 3rd consecutive day on US-Iran peace deal
Jun-16-2026

Indian equity benchmarks rose for the third consecutive day on Tuesday, propelled by a positive trend in global markets and softening crude oil prices following a peace deal between the US and Iran. Foreign investors turning net buyers in Indian equities also boosted the sentiment. Foreign Institutional Investors (FIIs) purchased equities worth Rs 200.05 crore on net basis on Monday, according to exchange data.  

Some of the important factors in trade:

India logs current account surplus of $4.7 billion in April on strong services exports: Reserve Bank of India (RBI) in its data has showed that India logged a current account surplus of $4.7 billion in April 2026, a sharp turnaround from the deficit of $4.8 billion recorded in the year-ago month.

India's May exports rise to six-month high; trade deficit widens to $28.21 billion: The commerce ministry in its latest data has showed that India’s merchandise exports rose by 18.01 per cent to $45.20 billion in May 2026 as compared to $38.30 billion in May 2025, marking the highest export figure in six months. 

Unemployment rate marginally dips to 5.5% in May: The Periodic Labour Force Survey (PLFS) released by the National Statistical Office showed that the overall unemployment rate for persons aged 15 years and above declined marginally to 5.5% in May, compared with 5.6% in the corresponding month of the previous year. 

India, UK working to resolve issues for trade pact implementation: Commerce Secretary Rajesh Agrawal said that India and the UK are discussing issues hindering the implementation of the free trade agreement, which was signed in July last year. 

Global front: European markets were trading higher as investors also looked ahead to the monetary policy announcements from the Federal Reserve and the Bank of England, due on Wednesday and Thursday, respectively. Asian markets settled mostly higher as US President Donald Trump announced that the US and Iran have reached a preliminary peace agreement to end the Middle East war, a move that could lead to the reopening of the Strait of Hormuz. 

Finally, the BSE Sensex rose 544.15 points or 0.71% to 76,808.48 and the CNX Nifty was up by 135.25 points or 0.57% to 23,989.15.

The BSE Sensex touched high and low of 76,846.74 and 76,443.34, respectively. There were 21 stocks advancing against 9 stocks declining on the index. 

The top gaining sectoral indices on the BSE were Realty up by 2.27%, IT up by 1.66%, TECK up by 1.20%, FMCG up by 1.12% and Energy up by 1.00%, while Metal down by 1.25%, Basic Materials down by 0.48%, Auto down by 0.35% and Healthcare down by 0.26% were the top losing indices on BSE.

The top gainers on the Sensex were HCL Technologies up by 3.59%, Bajaj Finserv up by 2.13%, Hindustan Unilever up by 2.10%, NTPC up by 2.10% and TCS up by 1.72%. On the flip side, Interglobe Aviation down by 0.86%, Ultratech Cement down by 0.82%, Maruti Suzuki down by 0.81%, Tata Steel down by 0.71% and Bharat Electronics down by 0.51% were the top losers.

Meanwhile, Finance Minister Nirmala Sitharaman has said that the government's recent measures to exempt withholding tax on interest income and capital gains tax on investments made by foreign investors in government securities (G-secs) are only the beginning. She signaled that additional reforms are in the pipeline to further encourage foreign capital inflows. She added that ‘We recognise that we need more foreign capital to come in’.

Recently, the Reserve Bank of India (RBI) had allowed banks to access the RBI’s swap facility for Foreign Currency Non-Resident (Bank) (FCNR(B)), deposits with maturities ranging from 3-5 years till September 30. The facility would allow banks to swap US dollar deposits with the RBI, and manage currency risks. Also, to shore up foreign capital inflows include a concessional forex swap facility to encourage PSUs to raise external commercial borrowings (ECBs) until September 30.

Sitharaman said under the framework announced by the RBI, currency hedging will be at the expense of the RBI. She said ‘And as a result, the banks can now go unfettered, to raise their own fund. So we have taken a very calibrated approach to make sure that the markets do see the required investments’. She also said the Indian economy is facing ‘severe strain’ from import of key raw materials, as well crude oil and fertilisers. She said that the global situation is changing almost every week with newer challenges emerging and the country has to be ready for every such ‘exigency’.

CNX Nifty touched high and low of 24,002.60 and 23,888.20, respectively. There were 30 stocks advancing against 20 stocks declining on the index.

The top gainers on Nifty were HCL Technologies up by 3.68%, Tata Consumer Product up by 2.69%, NTPC up by 2.24%, Bajaj Finserv up by 2.10% and Hindustan Unilever up by 1.90%. On the flip side, Hindalco down by 2.95%, JSW Steel down by 1.66%, HDFC Life Insurance down by 1.03%, Eicher Motors down by 0.95% and Maruti Suzuki down by 0.85% were the top losers.

European markets were trading higher; UK’s FTSE 100 increased 58.26 points or 0.56% to 10,488.88, France’s CAC rose 63.29 points or 0.75% to 8,447.30 and Germany’s DAX gained 187.39 points or 0.75% to 25,081.40.

Asian markets settled mostly higher on Tuesday tracking Wall Street’s gains overnight, with tumbling crude oil prices. US President Donald Trump assured that the Strait of Hormuz will be fully open on Friday, the day the signing ceremony is scheduled for the framework agreement between Washington and Tehran to end their war in the Middle East. Despite concerns over sticky inflation, the US Federal Reserve is widely expected to keep interest rates on hold on Wednesday under new Chair Kevin Warsh. Japan’s Nikkei marginally rose after the Bank of Japan delivered a widely expected 25 basis point rate hike to 1%, the highest since 1995, as it battles inflation caused by the Iran war. However, Chinese shares marginally fell after a mixed set of economic data from China. China's May data showed industrial output beating expectations at 4.5% but retail sales falling 0.6%, the first decline since the pandemic, as domestic demand and fixed asset investment deteriorated sharply. Meanwhile, Indonesia was closed for Islamic New Year.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

4,091.89

-4.58

-0.11

Hang Seng

24,493.95

-348.72

-1.40

Jakarta Composite

--

--

--

KLSE Composite

1,709.99

18.60

1.10

Nikkei 225

69,404.50

87.00

0.13

Straits Times

5,116.86

39.57

0.78

KOSPI Composite

8,726.60

180.62

2.11

Taiwan Weighted

45,809.19

412.20

0.91
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