Indian benchmark indices rebounded strongly in early trade on Monday, with the Sensex climbing 407.12 points to 77,210.02 and the Nifty surging 114.75 points to 24,129.95. The Sensex ended the session 291 points, or 0.38%, higher at 77,094, while the Nifty 50 settled at 24,102.90, up 90 points, or 0.37%. The Nifty opened with a gap-up of over 93 points and briefly touched an intraday high of 24,168, but trimmed gains through the second half as profit booking kicked in, pulling the index nearly 88 points off its peak. The session's intraday range of just 95 points was the narrowest since January 1, 2026, indicating cautious trading with volumes running about 8% below the average seen so far in June. The recovery was driven by a drop in crude oil prices and supportive global cues, with Brent crude trading 1.3% lower at $79 per barrel, as reported by The Hindu BusinessLine. Fresh foreign fund inflows and buying in blue-chip companies like Reliance Industries and HDFC Bank also added to market optimism. The opening was broadly in line with signals from Gift Nifty, which was trading at 24,160, up 80 points before the opening bell.
The U.S. and Iran have agreed on a roadmap aimed at reaching a final agreement within 60 days following the conclusion of first-round talks at the Swiss resort of Burgenstock. Iran's Foreign Minister Abbas Araqchi stated that the country has secured a waiver for oil and petrochemical exports, the release of some frozen assets, and the launch of a reconstruction and development plan for Iran, according to media reports. The joint statement from mediators Pakistan and Qatar confirmed that "encouraging progress" was made, including the creation of a mechanism for further technical talks and a High-Level Committee to provide political oversight. A "communication line" has been formed between the parties to "avoid incidents and miscommunication with the aim of safe passage for commercial vessels through the Strait of Hormuz". The parties also agreed to the creation of a "de-confliction cell" to ensure "adherence to the termination of military operations in Lebanon". Brent crude oil futures (for August expiry) declined as much as 2.33% to hit an intraday low of $78.69 per bbl on Monday, compared with the closing price of $80.57 per bbl in the previous session. At the time of writing, the Brent crude oil futures stood at $79.05 per bbl, reflecting a 1.89% drop, providing significant relief to markets. Domestic crude futures on MCX declined over 1.2%, offering relief to India's import bill.
The NIFTY Oil & Gas index advanced over 1% as crude oil prices fell following the conclusion of first-round US-Iran talks. At around 12:09 PM, the index was trading 1.01% higher at 11,282.40, with the top gainers including Aegis Logistics, Mahanagar Gas, Reliance Industries, GAIL, Chennai Petroleum Corporation, and others, with 12 out of 15 constituents advancing. Aegis Logistics surged as much as 8.5% to hit a 52-week high of ₹1,093.55 per unit on the National Stock Exchange (NSE), compared to the closing price of ₹1,007.80 apiece. Mahanagar Gas jumped as much as 3.3% to touch an intraday high of ₹1,248.90 per equity share, as against the previous closing price of ₹1,209 apiece. GAIL (India) climbed as much as 2.63% to hit the session's peak of ₹178.47 per equity share from the previous closing price of ₹173.90 per share. In the commodities market, Brent crude fell more than 2% to $78.74 per barrel, while US West Texas Intermediate crude declined 3% to $74.98 per barrel. Brent crude's June futures contract traded 1.45% lower at $79.40 per barrel on the Intercontinental Exchange, as reported by The Hindu.
Among Nifty heavyweights, Cipla, Tech Mahindra, and Dr Reddy's Laboratories topped the gainers list, while Asian Paints, Titan, and Nestle India ended in the red. The Nifty IT index gained 0.7% after the recent sharp correction, and the Defence index advanced 1.5% on expectations of a potential export deal with the UAE. Top Nifty50 gainers included Cipla at ₹1,416 (up 63.90), Tech Mahindra at ₹1,435 (up 25.60), Dr Reddy's at ₹1,291 (up 18.60), Infosys at ₹1,065 (up 14.00), Sun Pharma at ₹1,863 (up 24.60), RIL at ₹1,327 (up 17.00), Bajaj Auto at ₹10,191 (up 125.00), BEL at ₹431.50 (up 4.61), HDFC Life at ₹597.15 (up 5.30), and HDFC Bank at ₹786.40 (up 6.61). Top Nifty50 losers were Asian Paints at ₹2,674 (down 58.91), Titan Company at ₹4,373 (down 47.40), Nestle India at ₹1,402 (down 12.90), Shriram Finance at ₹992.85 (down 9.05), Power Grid at ₹289.75 (down 2.50), Trent at ₹3,181 (down 25.21), Coal India Ltd at ₹449.00 (down 2.31), Adani Ports SEZ at ₹1,827 (down 8.10), HUL at ₹2,185 (down 9.70), and Jio Financial Services at ₹243.38 (down 1.07). Sectorally, Nifty IT dropped 0.75% to lead losses, while Nifty FMCG and Nifty PSU Bank indices gained around 0.4% each. Broader markets outperformed the benchmarks for a seventh consecutive session, with the Nifty Midcap 100 rising 0.34% to 62,729 and the Nifty Smallcap 100 climbing 0.60% to 18,897. Market breadth remained firmly positive, with the BSE advance-decline ratio at 1.49, and 326 stocks from the Nifty 500 universe closing in the green, as reported by The Hindu BusinessLine.
The rupee bucked the broader positive market trend, weakening 36 paise to close at 84.68 against the dollar despite the dip in crude prices. The domestic currency was pressured by renewed importer demand and a firm Dollar Index near 100.85 that capped gains across emerging market currencies. Gold gained over 1% on COMEX, rebounding above $4,210, while MCX Gold rose roughly ₹2,000 to ₹1,49,200, supported by both global cues and a weaker rupee. Looking ahead, markets will track the next round of US–Iran negotiations closely, along with the progress of the southwest monsoon — delays in which could stoke food inflation and dent rural demand. Investors will also watch US Core PCE inflation and personal spending data, as well as Non-Farm Payrolls figures due later this week. Foreign Institutional Investors (FIIs) bought equities worth ₹4,859.07 crore on Friday (June 19, 2026), providing strong support to Monday's market recovery. Abhinav Tiwari, Research Analyst at Bonanza Portfolio, noted that "the market benefited from lower oil prices and improving global sentiment. However, we remain cautious due to risks such as delayed monsoons, uncertainty in US–Iran negotiations, and weak global IT spending trends."
