Stock Market Highlights: Nifty, Sensex Erase Weekly Losses With Just Friday's Rally On Hopes Of US-Iran Peal Deal

Benchmark indices ended the week higher, reversing earlier declines and snapping a two-week losing run.

• Nifty 50 closed up over 1% for the week, led by strong gains in banking stocks.
• Kotak Mahindra Bank and Axis Bank were the top gainers on Nifty, both rising over 6.6%.

Broader markets underperformed the benchmarks during the week.

• Nifty Midcap 150 ended flat, with Bank of Maharashtra and Apar Industries gaining over 10.2%, while Oil India fell around 13.5% and Kalyan Jewellers dropped over 7.2%.
• Nifty Smallcap 250 rose about 0.2%, with Aegis Logistics and Caplin Point gaining over 18%.

Sectoral performance remained mixed.

• Nifty Bank was the top performer, up over 4.2% for the week, extending gains for a third straight week.
• Nifty IT was the worst performer, falling over 4%, with Wipro down more than 9% and Infosys declining around 7%.
• Nifty Metal declined for a second consecutive week, while Nifty Oil & Gas extended losses to a third week.

Among other sector trends:

• Nifty Pharma snapped a three-week decline.
• Nifty FMCG ended a four-week losing streak.
• Nifty PSU Bank rose for the third straight week.
• Nifty Financial Services snapped a two-week losing streak.

Benchmark indices ended sharply higher, reversing earlier losses for the week on the back of strong Friday gains.

• Nifty 50 rose 1.99% to close at 23,622.90, up 461.30 points.
• Sensex climbed 2.30% to 75,527.95, gaining 1,695.40 points.
• Both indices turned positive for the week, with Nifty and Sensex ending higher after earlier declines between Monday and Thursday.

The rebound came after optimism around a potential US-Iran deal lifted sentiment across global markets and eased risk concerns.

Axiscades Technologies said it approved the transfer of engineering services in its aerospace business to the Akkodis Group.

• The transaction involves a phased stake sale in units to Akkodis.
• The total consideration for the deal is $206 million.
• The development was disclosed through an exchange filing.

Cognizant will be removed from the Nasdaq-100 index effective June 22 as part of the quarterly rebalance.

• The exit marks the company’s first removal from the index in over two decades.

• The rebalance will add five new constituents, including AI-linked firms such as CoreWeave and Astera Labs.

• The change reflects a shift in index composition towards AI and semiconductor-driven companies.

• The adjustment is likely to trigger portfolio changes in passive funds tracking the Nasdaq-100.

• The move underscores investor preference for AI-driven names, while traditional IT services firms see reduced weight in global indices.

US equity futures traded higher, signalling a firm start for Wall Street.

• S&P 500 futures rose about 0.45%.
• Nasdaq 100 futures gained 0.37%.
• Dow Jones futures advanced 0.65% or 331 points.

Benchmark indices extended gains, hitting fresh intraday highs with broad-based buying across sectors.

• Nifty 50 rose 1.9% to 23,609.
• Sensex climbed 2.3% or 1,665 points to 75,497.03.

Nestle India shares dropped to a 19-week low after the food regulator issued a notice over allegations of larvae in a Maggi packet.

• The FSSAI issued notices to Nestle following social media complaints about insect contamination in a product.
• The regulator also issued notices to Flipkart India and Open Secret over similar complaints and to KFC over hygiene issues.
• Devyani International said it will investigate the allegations related to KFC and respond to the regulator.

Benchmark indices extended gains to fresh intraday highs, with strong buying across sectors.

• Nifty 50 rose 1.6% to 23,539.
• Sensex climbed 1.9% or 1,399 points to 75,231.55.

European markets traded in the green, with broad-based gains across key indices.

• Germany’s DAX rose 1.86%, while France’s CAC gained 2.09%.
• Spain’s IBEX 35 was up 2.53% and Italy’s FTSE MIB advanced 1.93%.
• UK’s FTSE added 1.34%, while STOXX 600 climbed 1.72%.
• Other indices including OMX 30 and BEL 20 also posted gains, indicating positive sentiment across the region.

Sectoral performance showed broad-based gains with strong moves in rate-sensitive and domestic sectors, while IT remained the only laggard.

• Nifty Realty led gains, rising about 2.7%, followed by Financial Services up 2.5% and Bank index higher by around 2.5%.
• PSU Bank index climbed over 2.1%, while Defence and Infrastructure sectors gained between 1.8% and 1.9%.
• Auto, Oil & Gas, FMCG and Pharma posted moderate gains between 0.27% and 1.5%.
• Nifty IT was the only sector in the red, down 0.14%, underperforming the broader market.

Benchmark indices extended gains in intraday trade, with both Nifty 50 and Sensex hitting fresh highs.

• Nifty 50 rose 1.5% to 23,512.75.
• Sensex gained 1.8% or 1,268 points to 75,100.62.
• Brent crude traded below $87 per barrel during the session.

A draft memorandum between the US and Iran includes provisions to ease tensions and restore energy flows, according to Iranian state media.

• The draft outlines lifting US oil sanctions and reopening the Strait of Hormuz within 30 days.
• It also links final negotiations to steps such as releasing part of Iran’s frozen funds and easing trade restrictions.
• The development follows US President Donald Trump’s statement that a settlement with Iran is close, subject to finalisation.

Brent crude declined sharply in the latest update, reversing earlier gains, declining 4.6% to $86.3 per barrel.

Benchmark indices extended gains, with both Nifty 50 and Sensex rising to fresh intraday highs.

• Nifty 50 rose 1.4% to 23,480.
• Sensex gained 1.6% or 1,170.17 points to 75,002.

Global Health has received a Letter of Intent from the Haryana government to set up a medical college, according to an exchange filing.

• The proposed medical college will have 150 MBBS seats.
• The project adds to the company’s expansion in healthcare infrastructure.

SpaceX’s IPO drew over $100 billion in investor orders, Bloomberg reported, marking a major fundraising milestone.

• The order book was smaller compared with some recent IPOs in mainland China and Hong Kong.
• The offering was not available to investors in mainland China and Hong Kong due to US technology restrictions.

Source: Bloomberg

Alembic Pharmaceuticals received approval from the US Food and Drug Administration for its acne treatment cream, tretinoin.

• The company said tretinoin had US sales of $76 million as of March 2026.
• The approval was disclosed through an exchange filing.

F&O data showed a build-up of options positions at the 56,000 strike, with overall derivatives activity in Bank Nifty rising about 90% since the last expiry.

• Total options open interest rose to 1.32 million contracts, with both call and put positions increasing sharply.
• The 56,000 strike saw the highest open interest in both calls and puts, despite Bank Nifty trading above 58,000.
• Futures data showed fresh long positions in several banking stocks including Bandhan Bank, Bank of India, ICICI Bank and Axis Bank.

NLC India has been declared the preferred bidder for the Parvathapur vanadium, titanium and aluminous laterite mine in Telangana.

• The development was disclosed through an exchange filing.
• The mine includes deposits of vanadium, titanium and aluminous laterite minerals.

Raghav Productivity said its export business has grown significantly, with products now supplied to 40 countries, according to comments by Raghav Kabra.

• The company said Middle East clients are paying higher prices, while freight plays a key role in exports.
• It has increased market share to 30% from 14% and expanded capacity to 5.5 lakh tonnes from 1.8 lakh tonnes in three years.
• The company said it focuses on R&D-driven products and introduces a new offering every two years.

Zelle plans to expand its peer-to-peer payment services to India, marking its entry into an overseas market, PTI reported.

• The rollout is expected before the end of the year, targeting cross-border payment flows.
• Zelle allows instant transfers between bank accounts and is integrated within partner bank apps in the US.
• The company said India is a key corridor due to strong remittance flows between the US and India.

Tata Motors said it will increase prices of its passenger vehicle portfolio by up to 1.5% from July 1, according to an exchange filing.

• The price hike will apply across both internal combustion engine and electric vehicle models.
• The company said the increase is aimed at partially offsetting rising input costs and inflation.

• Kotak Mahindra Bank saw a block deal during the session with 1.38 million shares changing hands.
• Details of buyers and sellers were not immediately available.

Benchmark indices continued to trade higher though they eased from early session highs.

• Nifty 50 was up 0.93% at 23,377.20 after rising to 23,455.95 earlier.
• Sensex gained 1.10% to 74,645.76, down from its high of 74,834.76.
• Both indices retained most of their gains even as momentum moderated.

Hitachi Energy said it will invest Rs 2,000 crore to set up a power transformer manufacturing facility in Gujarat, according to an exchange filing.

• The plant will be established in Vadodara.
• The investment is aimed at expanding transformer manufacturing capacity.

Punjab National Bank said it is seeing encouraging feedback from NRI clients for FCNR-B deposits, according to Chairman and MD Ashok Chandra.

• The bank expects a good response to FCNR-B deposits and said there are no immediate liquidity concerns.
• MSME lending is growing at around 21%, while the agriculture loan segment is seeing faster expansion.
• About 30–35% of the loan book is linked to MCLR, and the cost of deposits may ease due to the FCNR-B push.

UBS upgraded Bosch to Buy from Sell and raised the target price to Rs 45,530 from Rs 27,920.

• The brokerage cited portfolio repositioning and new initiatives addressing concerns over powertrain and ICE exposure.
• It said the acquisition of Chassis Systems and recent joint ventures add to potential upside.
• UBS noted the stock was earlier downgraded to Sell in late 2021.

ESAF Small Finance Bank reported its total business at Rs 50,029 crore as of June 11, according to an exchange filing.

• Total deposits stood at Rs 26,197 crore.
• Gross advances were at Rs 23,832 crore.

Benchmark indices eased from their opening highs but continued to trade with gains in early trade.

• Nifty 50 was up 0.80% at 23,347.05 after rising to 23,455.95 earlier.
• Sensex gained 0.96% to 74,544.95, easing from its high of 74,834.76.

Sectoral indices traded mostly higher, with buying seen across defence, realty and banking segments.

• Nifty Defence rose 1.33%, followed by Realty up 1.31% and PSU Bank gaining 1.26%.
• Banking, Financial Services and Media indices advanced between 1% and 1.15%.
• Nifty IT was the only sector in the red, down 0.24%, while Pharma traded near flat.

IT stocks showed mixed performance in early trade, with select gains while several stocks traded lower.

• Oracle Financial Services rose 0.39%, while TCS gained 0.34% and Wipro was up 0.30%.
• Tech Mahindra fell 0.92%, the biggest decline, followed by Coforge down 0.85%.
• HCL Technologies, Mphasis and Persistent Systems also traded lower.

Oil marketing companies traded higher, with gains across major PSU refiners.

• BPCL rose 3.60%, while HPCL gained 3.53%.
• IOC advanced 2.90% during the session.

Realty stocks traded higher in early trade, with most major names posting gains.

• Anant Raj led gains, rising 2.75%, followed by Godrej Properties up 2.49% and Macrotech Developers up 2.10%.
• Brigade Enterprises and Phoenix Mills also gained 2.01% and 1.71%, respectively.
• SignatureGlobal India was the only stock in the segment to trade lower, down 1.38%.

City Union Bank shares fell sharply after turning ex-date for its 1:3 bonus issue.

• The stock declined 22.80% to Rs 198.25 as the price adjusted following the bonus issue.
• Shareholders will receive one additional share for every three shares held.
• The price fall reflects a proportional adjustment, with overall holding value remaining broadly unchanged.

Several stocks remained active in trade, with gains led by IFCI, Netweb Technologies and Motilal Oswal Financial Services, while select banking stocks declined.

• Netweb Technologies rose 6.43%, while IFCI gained 5.53% and Motilal Oswal Financial Services advanced 5.51%.
• Himachal Futuristic Communications, Ashok Leyland and JBM Auto also gained between 3% and 5%.
• Oil India and ONGC fell over 1.5%, while Canara Bank declined 1.69%.

Sectoral indices traded mostly higher, with broad-based buying across several sectors in early trade.

• Nifty Realty rose 2.46%, the top gainer, followed by Defence up 2.29% and Auto gaining 1.74%.
• Media, Financial Services and Banking indices also advanced between 1.5% and 1.6%.
• Nifty IT lagged, rising only 0.36%, while Pharma was up 0.50%.

Indian benchmark indices opened sharply higher, extending gains in early trade.

• Nifty 50 rose 1.27% to 23,455.95.
• Sensex gained 1.4% or 1,002.21 points to 74,834.76.

Benchmark indices indicated a strong start in pre-open trade with gains across both indices.

• Nifty 50 rose 0.88% to 23,365.15, up 203.55 points.
• Sensex climbed 0.98% to 74,556.80, gaining 724.25 points.

• The Indian rupee opened stronger against the US dollar, gaining 43 paise to trade at 95.32.
• The currency appreciated at the start of trade compared with the previous close.

UBS initiated coverage on Motilal Oswal with a Buy rating and a target price of Rs 1,150.

• The brokerage said the shift to an AUM-led platform supports non-linear earnings growth.
• It expects overall AUM to grow at 18% CAGR till FY30, with higher growth in wealth and alternatives segments.
• UBS projects 19% revenue CAGR and 22% earnings CAGR over FY26–FY29, driven by operating leverage and rising annuity income.

Investec maintained its Hold rating on Greenlam Industries with a target price of Rs 240.

• The management reiterated revenue growth guidance of 18–20% and an EBITDA margin target of 13–14% over the next few years.
• The brokerage said it is factoring in conservative estimates due to weak demand and cost pressures.
• It added that the laminates segment continues to perform well, while other segments are weighing on overall performance.

Axis Capital maintained its Add rating on Indian Hotels Company with a target price of Rs 735, revised from Rs 747.

• The brokerage said FY26 performance was driven by the luxury segment.
• It noted that Taj contributed 70% of revenue and about 80% of EBITDA along with Taj SATS.
• Axis Capital expects growth from RevPAR in Taj and new property additions, while higher exposure to midscale hotels may limit growth.

Goldman Sachs maintained a Neutral rating on Ola Electric and raised the target price to Rs 38.9 from Rs 34.

• The brokerage said EV penetration in electric two-wheelers rose to 9% in May from 7.9% in April.
• It noted that Ola Electric’s market share improved to 8.7% in May from a year-to-date low of 5%.
• Goldman Sachs raised FY27–FY29 revenue estimates by 2–3% and cited improved liquidity position.

Kotak Institutional Equities said the Indian pharmaceutical market grew 12.1% year-on-year in May 2026, marking the sixth straight month of double-digit growth.

• The brokerage said pricing remained the main growth driver, while volume contribution improved to 320 basis points from 80 basis points a year earlier.
• Growth was supported by new launches, acquisitions and in-licensing deals.
• Kotak’s preferred picks include Torrent Pharma, Cipla, Sun Pharma, Mankind Pharma, Emcure Pharma and Corona Remedies.

CLSA said the rupee could strengthen to 93–94 against the US dollar, supported by improved external balances.

• The brokerage expects at least $30 billion of foreign exchange inflows due to recent government and RBI measures.
• It said a stronger balance of payments outlook may reduce depreciation pressure on the currency.

Goldman Sachs maintained its Brent crude price forecast at $90 per barrel for the fourth quarter of 2026.

• The brokerage expects Gulf oil exports to normalise by late August.
• It cut its 2027 Brent forecast by $5 to $80 per barrel.
• Goldman Sachs said a security premium is likely to support oil prices.

Investec maintained its Buy rating on Jindal Stainless with a target price of Rs 825.

• The brokerage said the company’s fundamentals remain strong and gas-related challenges have had limited impact on production and spreads.
• It highlighted strong execution in the first half, which may lead to a revision in guidance.
• Investec said the company continues to focus on capital discipline, deleveraging and RoCE-led investments.

Investec maintained its Hold rating on Greenlam Industries with a target price of Rs 240.

• The management reiterated revenue growth guidance of 18–20% and an EBITDA margin target of 13–14% over the next few years.
• The brokerage is factoring in conservative estimates due to demand weakness and cost pressures.
• It said the laminates segment continues to perform well, while other segments are weighing on overall performance.

Investec maintained its Buy rating on Astral with a target price of Rs 1,710.

• The brokerage said Astral will acquire a 60% stake in DSS for Rs 391 million.
• It said the move will support backward integration in speciality chemicals and materials.
• Investec expects the deal to improve cost efficiencies, while awaiting clarity on revenue growth from DSS.

Nifty June futures edged lower, indicating a muted start to derivatives trade.

• Nifty June futures slipped 0.05% to 23,227, trading at a premium of 66 points.
• For the June 16 expiry, maximum Call open interest stood at 24,000, while maximum Put open interest was at 21,200.
• Kaynes continued to remain in the F&O ban period.

Promoter activity was seen across multiple stocks, including share pledges and acquisitions.

• Khandepar Investments, part of Ravindra Energy’s promoter group, pledged 70 lakh shares.
• Promoter group entities in MSP Steel & Power acquired shares, including 85.50 lakh shares by Shree Vinay Finvest.
• GRM Overseas promoter Atul Garg bought 4.5 lakh shares, while KCP promoter group also acquired shares.
• GNG Electronics promoter Vidhi S Khandelwal sold 44.87 lakh shares.

Multiple stocks saw bulk and block deals, with institutional investors and funds active on both sides of trades.

• In Lenskart Solutions, Platinum Jasmine A 2018 Trust sold 4 crore shares, while several mutual funds, insurers and global investors bought shares at Rs 490 each.
• In GNG Electronics, promoter Vidhi S Khandelwal sold 44.87 lakh shares, with multiple mutual funds and investors buying shares at Rs 390 each.
• In Vintage Coffee & Beverages, SBI Funds Management bought shares in two tranches, while Sneha Sadhwani sold 25 lakh shares.

Several companies announced updates including business launches, stake sales, fundraise and regulatory actions.

• Infosys tied up with CMMI Institute for an AI framework, while Dabur said a US FDA alert on its Silvassa unit has no material impact.
• Tata Capital allotted NCDs worth Rs 2,030 crore, while Ratnaveer Precision plans a Rs 330 crore rights issue.
• NLC India saw the government cut its stake to 69.47%, while Adani Enterprises’ JV completed acquisition of MBEL.
• Cyient fixed June 17 as record date for a Rs 720 crore buyback, and Edelweiss Financial closed its NCD issue early on strong demand.

Investors will track key domestic and global events through the day, including inflation data and corporate activity.

• India May CPI data and June forex reserves figures are scheduled for release.
• Corporate events include fund raising by Ather Energy and AGMs of Angel One and UCO Bank.
• Global cues include US Michigan consumer sentiment data, while SpaceX listing plans remain in focus.

US President Donald Trump said a deal with Iran could be signed in Europe as early as this weekend and that the Strait of Hormuz may reopen immediately after the agreement.

• Trump said the signing could take place on Saturday or Monday, though no firm timeline has been set.
• He added that the reopening of Hormuz would follow quickly after the agreement is finalised.
• The comments indicate progress in talks aimed at reducing tensions in the region.

US President Donald Trump said Washington has reached a “settlement” with Iran and final documents may be completed in the coming days.

• Trump said the agreement is in final stages and could be signed soon, possibly in Europe.
• Iran said no final decision has been made, indicating talks are still ongoing.
• The development points to continued negotiations despite differing statements from both sides.

Asian markets traded higher, with strong gains across major indices.

• South Korea’s Kospi surged 6.99%, the top gainer in the region.
• Japan’s Nikkei 225 rose 3.36%, while Hong Kong’s Hang Seng gained 1.48%.
• Australia’s S&P/ASX 200 advanced 1.78%, and Shanghai Composite rose 0.97%.

Oil prices declined after the US said it had reached a framework agreement with Iran, raising hopes of easing tensions in the Middle East.

• US crude July futures fell 1.65% to $86.26 per barrel.
• Brent August futures declined 1.55% to $88.98 per barrel.

• GIFT Nifty traded at 23,512.50, compared with Thursday’s Nifty 50 close of 23,161.60.
• The early indicator was 350.9 points above the previous close.