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Indices continue to witness gains as crude oil prices drop
Jun-12-2026

Domestic equity indices continued to witness solid gains in late morning deals as market participants indulged in enlarging their positions. Domestic sentiments were supported by falling crude oil prices and positive cues from global markets. Crude oil prices dropped after U.S. President Donald Trump said Washington reached a framework agreement with Iran, raising hopes the Middle East conflict could be nearing its end. Besides, sentiments were supported by Indian rupee appreciating 44 paise at 95.41 per dollar. All the sectoral indices on the BSE were trading in green led by Telecom, Industrials, Capital Goods, Consumer Durables and Realty. 

On the global front, Asian markets were trading in green following positive cues from the US markets overnight. Back home, in the stock specific development, Hitachi Energy surged as the company is investing around Rs 2000 crore to establish a new Large Power Transformer (LPT) factory in Karjan, Vadodara, Gujarat, India. 

The BSE Sensex is currently trading at 74598.99, up by 766.44 points or 1.04% after trading in a range of 74453.39 and 74859.16. There were 24 stocks advancing against 6 stocks declining on the index.

The top gaining sectoral indices on the BSE were Telecom up by 2.03%, Industrials up by 1.93%, Capital Goods up by 1.66%, Consumer Durables up by 1.51% and Realty up by 1.37%, while there were no losers.  

The top gainers on the Sensex were Interglobe Aviation up by 3.31%, Eternal up by 2.91%, Bajaj Finance up by 2.38%, Titan up by 2.09% and Larsen & Toubro up by 1.83%. On the flip side, Tech Mahindra down by 1.48%, Power Grid down by 1.01%, NTPC down by 0.60%, Tata Steel down by 0.48% and Mahindra & Mahindra down by 0.25% were the top losers.

Meanwhile, the Reserve Bank of India (RBI) in its latest data has showed that Bank credit growth in India surged by 17.44 per cent year-on-year (YoY) in May 2026. This marks the ninth straight month of double-digit expansion, reflecting sustained, robust demand for loans from both retail consumers and corporate entities. In the fortnight ended May 15, bank credit growth stood at 16.06 per cent, indicating a sharp pickup by month-end.

Credit growth has consistently stayed above the 13 per cent mark since January 31, 2026, and ranged between 14 per cent and 17 per cent thereafter. The uptrend became more pronounced from September 2025 onward, with credit growth accelerating to 10.21 per cent and 10.29 per cent in successive fortnights, and remained firmly in double-digit territory thereafter. On September 3, 2025, the GST Council has simplified the indirect tax system into a two-tier structure of 5 per cent and 18 per cent, a move seen as improving compliance clarity and business sentiment.  

October and November consolidated the recovery in bank lending activity, with credit growth surpassing 11 per cent and remaining in the 11-11.4 per cent range, supported by festive-season spending, rising retail loan demand, and increased trade financing. The momentum strengthened significantly in December, as credit growth accelerated from 11.63 per cent and 11.87 per cent in mid-month readings to 14.39 per cent by the end of the month, aided by stronger year-end corporate drawdowns and year-end balance sheet expansion. The positive trend carried into January and February 2026, with bank credit growth rising to between 13 per cent and 14.41 per cent.  

The CNX Nifty is currently trading at 23357.40, up by 195.80 points or 0.85% after trading in a range of 23322.65 and 23455.95. There were 36 stocks advancing against 14 stocks declining on the index.

The top gainers on Nifty were Interglobe Aviation up by 3.41%, Eternal up by 2.91%, Shriram Finance up by 2.66%, Bajaj Finance up by 2.26% and Titan up by 2.00%. On the flip side, ONGC down by 3.17%, Tech Mahindra down by 1.64%, Power Grid down by 1.08%, Coal India down by 1.08% and Bajaj Auto down by 1.06% were the top losers.

All Asian markets were trading higher; Nikkei 225 surged 1967.73 points or 3.06% to 66,185.00, Taiwan Weighted added 876.08 points or 1.99% to 44,025.54, Jakarta Composite gained 157.52 points or 2.61% to 6,043.55, Shanghai Composite strengthened 53.56 points or 1.33% to 4,040.57, KOSPI increased 472.98 points or 5.74% to 8,236.93, Hang Seng advanced 435.71 points or 1.77% to 24,685.00 and Straits Times rose 18 points or 0.36% to 5,006.10.
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