Dalal Street continued its upward trend with benchmark indices rising over 1% on June 15, bolstered by declining crude oil prices after US-Iran conflict resolution and a stronger Indian rupee. The Nifty 50 and Sensex both recorded gains, while broader markets saw even higher advances.
The bulls remained firmly in control of Dalal Street for the second consecutive day as the benchmark indices closed Monday’s session, June 15, with gains of over 1%, supported by a sharp decline in crude oil prices after the US and Iran agreed to end a nearly four-month conflict in the region and reopen the Strait of Hormuz.
In addition, easing FPI selling and a strengthening Indian rupee further boosted market sentiment, with the Nifty 50 eventually settling 1% higher at 23,846. The S&P BSE Sensex also gained 1% to close at 76,299.
The broader markets posted even stronger gains, with both the Nifty Midcap 100 and Nifty Smallcap 100 indices advancing 1.29% and 1.10%, respectively. All major sectoral indices ended in the green, led by the Nifty Realty index, which surged nearly 4%.
Other sectoral indices, including Nifty Consumer Durables, Nifty Cement, Nifty Auto, Nifty Metal, Nifty Oil & Gas, Nifty IT, and Nifty Chemicals, also posted strong gains, rising between 1% and 3%.
Tensions in the Middle East eased after the US and Iran said an initial agreement had been reached to end the conflict and resume traffic through the Strait of Hormuz. The Strait of Hormuz will be “opening” on Friday following the signing of the agreement with Iran, US President Donald Trump said in a post on Truth Social.
The announcement of the deal triggered sharp selling in crude oil prices, which sank to a three-month low in trade. Lower crude oil prices are a positive for India, which meets nearly 85% of its crude oil requirements through imports, primarily from the Middle East.
Over 100 constituents of the Nifty 500 index closed with gains of over 3%, led by Aarti Industries, which surged 13% to ₹498 apiece. The rally also marked the stock’s biggest single-day gain in the recent past. Kalyan Jewellers also witnessed renewed buying interest, with the stock soaring 11% to ₹383 apiece.
Realty, auto and crude-sensitive stocks lead broad-based buying spree
Real estate stocks saw heavy buying in trade, with Prestige Estates Projects, Phoenix Mills, DLF, Godrej Properties, Aditya Birla Real Estate, Sobha, and Oberoi Realty all advancing between 3% and 6%.
Auto stocks, too, posted similar gains, as eight stocks from the Nifty Auto pack, including UNO Minda, Eicher Motors, and Ashok Leyland, surged between 3% and 6.4%. In addition, Gabriel India jumped over 10%.
Crude-sensitive stocks remained higher for the second consecutive day, with OMCs, tyre makers, paints, textiles, and chemical companies all ending in the green.
All three OMCs—HPCL, BPCL, and IOC—gained around 5%, while tyre stocks such as MRF, Balkrishna Industries, and Apollo Tyres rallied up to 8%. Meanwhile, HFCL shares were locked in another 5% upper circuit at ₹180.45 apiece.
The renewed optimism also lifted some of the recently beaten-down names, including Paytm, which closed 4.4% higher at ₹1,121.
Aurobindo Pharma, OLA Electric among key laggards
Among the laggards, Aurobindo Pharma declined 4.4% to ₹1,408 apiece, while Zee Entertainment and Tenneco Clean Air India also fell more than 3.5%.
Profit booking in OLA Electric continued for another session, with the stock tumbling 3.5% to ₹44 apiece. Despite the recent correction, the stock remains up more than 90% from its recent lows.
Other stocks that ended in the red included Aster DM Healthcare, GE Vernova T&D India, Tejas Networks, NMDC, Godfrey Phillips India, Data Patterns, and Ajanta Pharma, which posted losses ranging between 3% and 3.5%.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
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