Opening Bell: Nifty Above 23,900, Sensex Rises 270 Points Amid Optimism Over US-Iran Peace Deal

Market Update at 09:32 AM: The benchmark indices, Nifty50 and Sensex, traded in positive territory on Tuesday, even as global markets paused after the recent rally sparked by the announcement of a US-Iran peace deal. Investors remained focused on further details of the agreement.

At 9:17 AM, the Nifty50 gained 68 points, or 0.29 per cent, to 23,921.30, while the Sensex advanced 272.09 points, or 0.36 per cent, to 76,536.42.

Market sentiment received support after US President Donald Trump stated that Washington and Tehran had reached a peace agreement, potentially paving the way for the reopening of the Strait of Hormuz as early as Friday.

Among Nifty50 constituents, Hindustan Unilever, HCLTech, Bajaj Finance, and Tata Consumer Products emerged as the Top Gainers in early trade.

The broader market also witnessed buying interest, with the Nifty MidCap and Nifty SmallCap indices rising 0.23 per cent and 0.29 per cent, respectively.

Pre-Market Update at 7:42 AM: Indian benchmark indices, Sensex and Nifty 50, are likely to open on a subdued note on Tuesday, June 16, amid mixed global cues as investors await further clarity on the proposed U.S.-Iran peace agreement.

At 7:23 AM, Gift Nifty was trading near 23,936, a premium of about 5 points over the previous close of Nifty futures, indicating a muted start for domestic equities. Asian markets traded mixed, reflecting investor caution, while Wall Street ended higher overnight, with the Dow Jones Industrial Average hitting a record high.

The proposed U.S.-Iran peace agreement remains a key market trigger. U.S. Vice President JD Vance said President Donald Trump could make the agreement public before Friday. According to reports, leaders of both countries have already electronically signed the deal, with a formal signing expected later this week. Trump stated that Iran has agreed to never possess a nuclear weapon under the arrangement.

On the macroeconomic front, India's current account posted a surplus of USD 4.7 billion in April, compared with a deficit of USD 4.8 billion in the same month last year. Imports rose to USD 72.5 billion from USD 65.8 billion, while exports increased to USD 44.6 billion from USD 38.7 billion a year earlier.

Crude oil prices edged higher amid concerns over limited details in the preliminary peace pact. Brent crude futures gained 0.3 per cent to USD 83.42 per barrel, while U.S. West Texas Intermediate crude rose 0.3 per cent to USD 81.12 per barrel.

Gold prices were largely steady after touching a more than one-week high in the previous session. Spot gold rose 0.1 per cent to USD 4,311.36 per ounce, while U.S. gold futures for August delivery slipped 0.4 per cent to USD 4,332.60 per ounce. Spot silver declined 0.4 per cent to USD 69.74 per ounce. Meanwhile, the U.S. dollar index remained near a 10-day low at 99.66.

From a derivatives perspective, the Put-Call Ratio for the Nifty June series stands at 0.95. Significant put open interest is concentrated at the 23,500 strike, while fresh put additions were seen at the 23,800 strike. On the call side, the highest open interest and fresh additions were observed at the 24,000 strike, indicating a key resistance zone.

Technically, the immediate resistance for Nifty 50 is placed in the 24,090-24,127 zone, where the previous swing high and an earlier gap area are located. A decisive close above this range could trigger further upside. On the downside, the 50-day moving average near 23,749 remains a crucial support level. If breached, the next major support is seen around the 20-day moving average at 23,548.

Stock-specific action is expected to remain active. HCL Technologies acquired a 10.46 per cent stake in Axonwise Private Limited (Sarvam AI) for Rs 1,427.25 crore. State Bank of India will hold a board meeting on June 18 to consider fundraising plans for FY27 through a public offer or private placement. Mahindra & Mahindra Financial Services approved the issuance of non-convertible debentures worth up to Rs 1,000 crore through private placement.

General Insurance Corporation of India will see the government divest up to a 5 per cent stake through an offer-for-sale at a floor price of Rs 352 per share. Craftsman Automation launched a Rs 2,000-crore qualified institutional placement with a floor price of Rs 8,966.13 per share.

Adani Enterprises is in focus after the Adani Group and Jabil announced plans for a strategic alliance to establish AI and data centre infrastructure manufacturing in India. Yes Bank partnered with Northern Arc Capital to expand digital lending and credit access. Dhanlaxmi Bank appointed Krishnakumar K as Chief Financial Officer for a three-year term.

Indian Railway Catering and Tourism Corporation reported a change in finance leadership after Sudhir Kumar ceased to be CFO and Director (Finance). Devyani International received no-objection letters from NSE and BSE for its proposed merger with Sapphire Foods. GMR Airports reported strong operational performance in May, with passenger traffic rising 6.1 per cent year-on-year and domestic traffic increasing 7.9 per cent.

In the derivatives segment, Kaynes Technologies remains under the F&O ban list for June 16.

Institutional activity remained positive on June 15. Foreign Institutional Investors were net buyers of equities worth Rs 200.05 crore, while Domestic Institutional Investors purchased shares worth Rs 3,189.26 crore.

The Indian stock market ended sharply higher on Monday as easing geopolitical tensions boosted sentiment. The Sensex surged 736.38 points, or 0.97 per cent, to close at 76,264.33, while the Nifty 50 gained 231 points, or 0.98 per cent, to settle at 23,853.90.

Wall Street also ended strongly higher after the peace agreement announcement. The Dow Jones Industrial Average advanced 468.77 points, or 0.92 per cent, to a record close of 51,671.03. The S&P 500 climbed 122.83 points, or 1.65 per cent, to 7,554.29, while the Nasdaq Composite surged 795.10 points, or 3.07 per cent, to 26,683.94, marking its biggest single-day percentage gain since March 31.

Among major technology stocks, Nvidia rose 3.54 per cent, AMD jumped 6.98 per cent, Microsoft gained 2.31 per cent, Amazon advanced 3.16 per cent, Apple added 1.82 per cent, Alphabet climbed 2.50 per cent, Meta Platforms rallied 4.67 per cent and Tesla increased 1.16 per cent. On the downside, Fox plunged 16.8 per cent, while Roku declined 1.9 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.

What’s your strategy for today’s volatile market? Share in the comments!