Bulls Return To D-Street! Nifty-Sensex End 2-Week Losing Run On Iran-US Peace Deal, Strong Rupee

Stock Market Weekly Wrap: Bulls charged back into Dalal Street as the Nifty and Sensex snapped their two-week losing streaks and erased all the losses incurred over the previous five trading sessions. The Nifty 50 ended 1.99% higher at 23,622 points, while the BSE Sensex gained 1,695 points during the week ended June 12.

The sharp rebound in the Indian stock market today amid optimism around Iran-US peace deal. As per media reports, Iran and US are likely to sign and Memorandum of Understanding (MoU) by Saturday. The recent update related to West Asia crisis led to sharp decline in crude oil prices, and recovery in precious metals.

Stock Market Closing

Nifty and Sensex closed higher on Friday, June 12 amid optimism around Iran-US peace deal. Additionally, recovery in the Indian rupee also fuelled investors' enthusiasm. Nifty Bank emerged as the top performer in the week after the Reserve Bank of India (RBI) announced FCNR(B) relaxation and other forex related measures. Nifty Bank closed 2.97% higher on Friday, June 12 with AU Bank, IDFC First Bank, Punjab National Bank, HDFC Bank, Yes Bank, etc emerging as the top gainers.

Why Indian Stock Market Rallied Today?

"Indian equities witnessed a strong rally today, driven by a combination of falling crude oil prices, easing geopolitical concerns, and positive global market cues. The biggest trigger has been optimism surrounding a potential diplomatic resolution in the Middle East, particularly signs of progress in negotiations between the US and Iran. This has reduced geopolitical risk, improved global risk appetite, and encouraged investors to move back into equities.