Sensex gained 544 points as Nifty closed near 24,000.
IT and realty stocks led gains on US-Iran peace optimism.
Rupee strengthened and softer crude prices boosted market sentiment.
Indian equity benchmarks extended gains for a second consecutive session on June 16, supported by easing geopolitical concerns in West Asia, softer crude oil prices and continued strength in information technology and realty stocks.
The BSE Sensex climbed 544.15 points, or 0.71%, to close at 76,808.48, while the NSE Nifty50 rose 135.25 points, or 0.57%, to settle at 23,989.15, just shy of the psychologically important 24,000 mark. Market breadth remained positive, with 2,275 stocks advancing against 1,795 declines.
1 June 2026
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IT, Realty Lead Sectoral Gains
Sectoral performance remained broadly positive, with all major indices ending in the green except Auto, Pharma, PSU Bank and Metal.
Nifty IT, Realty, FMCG, Consumer Durables, Energy and Media indices gained between 1% and 2%, driving the broader market higher. HCL Technologies emerged as the top Nifty gainer, followed by Tata Consumer Products, Hindustan Unilever, Bajaj Finserv and NTPC.
On the flip side, metal counters remained under pressure, with Hindalco Industries and JSW Steel among the biggest losers as global metal prices corrected amid easing supply concerns.
US-Iran Peace, Lower Crude Support Sentiment
According to Vinod Nair, Head of Research at Geojit Investments, domestic markets continued their recovery momentum on expectations of a de-escalation in US-Iran tensions and softer crude oil prices.
He noted that easing geopolitical risks and lower energy prices have improved investor confidence, triggering broad-based buying across sectors such as IT, realty, FMCG and oil & gas. However, metal stocks underperformed as global commodity prices softened.
Investors are now turning their attention to the upcoming US Federal Reserve policy meeting, where the central bank is widely expected to keep rates unchanged. Market participants will closely watch commentary from the new Fed Chair for signals on the future trajectory of interest rates.
Rupee Strengthens
The Indian rupee traded stronger during the session, gaining around 11 paise to hover near 94.55 against the US dollar.
Jateen Trivedi, VP Research Analyst – Commodity and Currency at LKP Securities, said optimism surrounding ongoing US-Iran peace negotiations and positive comments from Iranian officials supported the domestic currency. He added that the next round of talks scheduled for June 19 will be crucial for determining the outlook for energy markets and global risk sentiment.
According to Trivedi, the rupee's near-term outlook remains constructive, with support from improving geopolitical conditions, while future movement will also depend on the Federal Reserve's policy stance and foreign institutional investor flows.
Technical Setup Remains Positive
From a technical perspective, the Nifty traded within a narrow 114-point range during the session, marking its lowest trading range since February 2026.
Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, said the formation of a small-bodied candle on the daily chart indicates a lack of strong directional conviction in the near term. However, the index continues to trade above its 20-day and 50-day exponential moving averages, both of which are trending higher.
The daily Relative Strength Index (RSI) is placed at 59.13 and is close to crossing the 60 mark, suggesting strengthening bullish momentum. Shah added that broader market indices continue to consolidate within a tight range, while market breadth remains mildly positive, reflecting underlying resilience in the market
