Indian benchmark indices staged a strong recovery on Thursday, June 11, with the BSE Sensex gaining 257 points to hit an intraday high of 74,380.22 and the NSE Nifty50 touching 23,324.25 during afternoon trading. At 12:52 PM, the Sensex was trading at 74,239.90, up 256.72 points or 0.35%, while the Nifty50 stood at 23,280.20, reflecting a 65.25 points or 0.28% increase. The recovery came after the indices had opened in negative territory but gained momentum through the session amid value buying and firm global cues. During early morning trading, the Sensex had climbed more than 250 points and inched closer to 74,200, while the Nifty50 rose almost 50 points and tested 23,300 as of 9:15 AM.
Several stocks emerged as key performers during Thursday's session, with Doms Industries climbing as much as 7.33% to hit an intraday high of ₹2,273.90 per unit after the company entered into an asset purchase agreement to acquire Reynolds Pens India Limited. Zee Entertainment gained as much as 4.73% to hit an intraday high of ₹107.80 per equity share as its board approved plans to raise a minimum of ₹2,300 crore in capital through one or more phases. Allied Blenders and Distillers Limited (ABDL) rose as much as 5.65% after its whisky brand ICONiQ White Whisky was named the world's fastest-growing millionaire whisky brand for the third consecutive year in Drinks International's Millionaires' Club 2026 report. Vascon Engineers rallied 5% to hit the upper circuit of ₹34.73 after securing a ₹347.43 crore EPC order from the Government of India for RBI quarters redevelopment in Guwahati.
Sugar stocks experienced significant gains following the government's decision to waive excise duty on ethanol-blended petrol variants. Balrampur Chini Mills, Triveni Engineering and Industries, and Dhampur Sugar were among the stocks trading higher after the finance ministry notification made excise duty 'nil' on petrol with 22%, 25%, 27%, and 30% ethanol blend. The government also exempted these categories from additional excise duty as road and infrastructure cess, with rates fixed at nil. Ethanol mixed with petrol in a 90:10 ratio helps reduce tailpipe emissions, and the government plans to increase this ratio from 90:10 to 90:20 in the near future, which could significantly boost ethanol and sugar demand.
Global investor attention remained focused on the rapidly escalating conflict between the United States and Iran, triggering fresh uncertainty across financial markets and raising fears over global energy supplies. The latest escalation followed US military strikes on targets inside Iran after an American Apache helicopter operating over the Strait of Hormuz was reportedly brought down. Tehran has warned that it will respond to Washington's actions, intensifying concerns about the possibility of a wider regional confrontation. Adding to market anxiety, Iran claimed responsibility for a drone strike targeting the US Navy's Fifth Fleet headquarters in Bahrain. The reported attack came shortly after US forces carried out strikes at multiple locations in southern Iran, marking a sharp escalation in hostilities between the two countries.
Equity markets across the Asia-Pacific region traded lower on Wednesday as investors reduced exposure to risk assets following the latest geopolitical developments. Japan's Nikkei 225 declined around 0.8%, while South Korea's Kospi dropped nearly 2.7%. The broad-based weakness reflected growing worries that a prolonged conflict could affect global economic growth and fuel inflationary pressures across the region. US markets closed on a mixed note overnight as investors reacted to geopolitical tensions and rising crude oil prices. The S&P 500 and Nasdaq Composite ended lower, with the technology-heavy Nasdaq declining nearly 1%. The S&P 500 also closed in negative territory, while the Dow Jones Industrial Average managed to end marginally higher.
