Market Wrap, 16 June 2026: Sensex Climbs, Nifty Tops Key Levels As US-Iran Deal Eases Oil Supply Concerns

The Nifty 50 and Sensex ended Tuesday’s trading session in positive territory. They were supported by improving global sentiment after US President Donald Trump announced that Washington and Tehran had reached a peace agreement.

Trump said the agreement between the United States and Iran could lead to the reopening of the Strait of Hormuz as early as Friday. The waterway is one of the world's most important energy shipping routes and plays a key role in global crude oil supplies. At the closing bell:

• Nifty 50 stood at 23,989.15, up 0.57%

• Sensex stood at 76,808.48, up 0.71%

Broader Market And Sectoral Performance

Even broader markets reflected optimism. The Nifty Midcap 100 index ended 0.41% higher. The Nifty Smallcap 100 index closed 0.42% up. Gains were also recorded by Nifty Realty, Nifty Media and Nifty Oil and Gas. Pressure, however, was felt by Nifty Metal (see table).

Other Important Headlines

Some other major news items of the day include:

• Global mining behemoths, BHP Group and Rio Tinto, are focusing on India for future steel demand thanks to India’s rapid urbanisation and heavy infrastructure development.

• As per TransUnion, a global credit reporting agency, India's digital fraud rate stood at 7.1% in 2025, nearly double the global average of 3.8%.

• As per Kiran Mazumder-Shaw, Biocon Ltd has set its sights on becoming the world's top insulin supplier in the next five years.

• Bondada Engineering has bagged an EPC order worth ₹1,338 crore from NTPC Renewable Energy for a solar and battery storage project in Uttar Pradesh.

• Invesco Mutual Fund has joined the list of fund houses restricting investments in their gold-focused schemes temporarily.

• India's services exports in total exports rose from 33.8% in 2014-15 to 48.8% in 2025-26, thanks to the rapid expansion of the IT sector and a shift towards digital delivery services.

Also Read- India's Gold Imports Rise 34% In May Despite 15% Customs Duty

Gold And Silver Watch

Gold prices rose in early trade on the Multi-Commodity Exchange (MCX) following a muted trend in global bullion prices. Silver, however, was under pressure. At 15:38, gold June futures on the MCX stood at ₹1,53,171 per 10 grams, up 0.17%. July silver futures during the same time stood at ₹2,50,736 per kg, down 0.29%.

Investors are likely to monitor further announcements from the US and Iran regarding the proposed peace agreement and developments surrounding the reopening of the Strait of Hormuz.

Market participants are also likely to watch movements in global crude oil prices and broader international equity markets for direction.

Sources:

Moneycontrol

Business Standard

The Economic Times