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Markets end notably higher amid easing crude oil prices, US-Iran developments
Jun-19-2026

Indian equity benchmarks ended the passing week with gains of over one and a half percent amid easing crude oil prices and reports that US and Iran electronically signed a MoU aimed at ending hostilities. Though, last session losses amid IT sell-off and reports of postponement of high-stakes talks to reopen negotiations between US and Iran on the nuclear program limit the upside.

Some of the major developments during the week are:

Retail inflation surges to 3.93% in May: Retail inflation, measured by the All-India Consumer Price Index (CPI) with the base year 2024, surged to 3.93% (Provisional) in May 2026 from 3.48% (Final) in April 2026, due to rising food and fuel prices. This marks fourth consecutive monthly increase in inflation.

May WPI Inflation hits 9.68%: India's WPI inflation surged to 9.68% in May 2026 under a new revised series, with higher food and fuel prices amid the continuing Middle East tensions due to the US-Iran war that inflated global crude prices and strained supply chains. Inflation was 8.26% in April 2026.

India's May exports rise to 6-month high: The commerce ministry data showed that India’s merchandise exports rose 18.01% Y-o-Y to $45.20 billion in May 2026, marking the highest export figure in 6 months. Merchandise imports grew 20.62% Y-o-Y to $73.41 billion, while trade deficit widened to $28.21 billion.

India registers 15% rise in net income tax collection till June 17: The Income Tax Department data has showed that India’s net income tax collection increased 14.64% Y-o-Y to over Rs 5.21 lakh crore during the April 1-June 17 period of FY27 over Rs 4.54 lakh crore collected in corresponding period last year.

India facing nationwide rainfall deficit of 41%: The IMD data has showed that India is facing a nationwide rainfall deficit of 41% between June 4-18, as southwest monsoon stalled over southern Maharashtra. The country received just 42.6 mm of rainfall against the normal 72.2 mm during above-mentioned period.

BSE movement for the week

The Bombay Stock Exchange (BSE) Sensex surged 1274.95 points or 1.69% to 76,802.90 during the week ended June 19, 2026. On the sectoral front, S&P BSE Capital Goods was up by 4,709.03 points or 5.97% to 83,600.96, S&P BSE Realty was up by 327.16 points or 5.44% to 6,337.66, S&P BSE Power was up by 368.87 points or 4.66% to 8,289.27, S&P BSE Consumer Durables was up by 2,640.39 points or 4.52% to 61,066.86 and S&P BSE Consumer Discretionary Goods & Services was up by 356.44 points or 3.88% to 9,552.55 were the top gainers, while S&P BSE Information Technology was down by 338.44 points or 1.25% to 26,829.46 was the only loser on the BSE.

NSE movement for the week

The Nifty surged 390.20 points or 1.65% to 24,013.10. On the National Stock Exchange (NSE), Nifty Next 50 gained 2349.45 points or 3.36% to 72,356.65, Nifty Mid Cap 100 increased 1749.20 points or 2.88% to 62,517.30 and Bank Nifty was up by 870.95 points or 1.53% to 57,685.75, while Nifty IT was down by 368.90 points or 1.33% to 27,426.85.

FII transactions during the week

Foreign Institutional Investors (FIIs) were net buyers in equity segment in the week, with gross purchases of Rs 74,170.19 crore and gross sales of Rs 71,788.29 crore, leading to a net inflow of Rs 2,381.90 crore. They also stood as net buyers in the debt segment with gross purchases of Rs 20,748.48 crore against gross sales of Rs 8,795.86 crore, resulting in a net inflow of Rs 11,952.62 crore. In hybrid segment, FIIs stood as net sellers, with gross purchases of Rs 94.31 crore and gross sales of Rs 1,487.14 crore, leading to a net outflow of Rs 1,392.83 crore.

Industry and Economy

With an aim to deepen economic ties and strengthen bilateral trade, the free trade agreement between India and the UK will formally enter into force on July 15, 2026, after resolving a steel issue. The move is likely to help double two-way commerce to $100 billion by 2030. The two countries will also implement the Agreement on Social Security or the Double Contribution Convention (DCC) on the same day. Under DCC, Indian companies operating in the UK would not have to make social security contributions for up to five years for employees they move from India to support their operations. The commerce ministry said the period of exemption under DCC has been increased from 3 years to 5 years, thereby marking a major gain for India’s temporary workers.

Outlook for the coming week

Indian markets closed higher in passing week as investors cheered a diplomatic breakthrough between the US and Iran that could restore traffic through the Strait of Hormuz and ease concerns over energy supplies.

In the coming week, investors will be eyeing infrastructure output data for the month of May to be out on June 22. Also, traders will be watching for HSBC Manufacturing, Services and Composite PMI Flash data on June 23. Moreover, Bank Loan Growth, Deposit Growth and Foreign Exchange Reserves data are going to be out on June 26.

Meanwhile, the World Economic Forum will convene the 17th Annual Meeting of the New Champions in Dalian, China, from June 23 to Juen 25, bringing together leaders from over 90 countries to explore how innovation can drive growth and resilience in a rapidly changing global economy.

On the global front, investors would be eyeing few economic data from world’s largest economy, United States (US), starting with Redbook and S&P Global Manufacturing, Services and Composite PMI Flash data on June 22, followed by New Home Sales and EIA Crude Oil Stocks on June 24, GDP Growth Rate, Initial Jobless Claims, PCE Price Index on June 25, and Baker Hughes Oil Rig Count on June 26.

Top Gainers 

  • Trent up by 18.26% was the top gainer on Nifty for the week - Trent witnessed sustained buying interest on strong volumes and optimism over its long-term growth trajectory. The stock continued to be among India’s most closely tracked retail names, supported by the rapid expansion of its Westside and Zudio brands. Meanwhile, the company reported a 25.83% rise in consolidated net profit at Rs 400.33 crore for Q4FY26 over Rs 318.15 crore for Q4FY25.
  • Shriram Finance up by 13.05% was another top gainer on Nifty for the week - Shriram Finance achieved a 13% reduction in Scope 1 and Scope 2 emission intensity per rupee of turnover in FY26, alongside an around 10% reduction in energy intensity per rupee of turnover compared to FY25. Its Green Finance portfolio reached over Rs 1,400 crore as of March 31, 2026, driven by financing for electric vehicles, rooftop solar systems, and other green assets.

Top Losers 

  • Infosys down by 5.67% was the top loser of the week on Nifty - IT stocks along with Infosys came under pressure after a sharp sell-off in Accenture and weakness in Indian IT ADRs, which reinforced concerns over a slow recovery in technology spending. Accenture lowered its revenue growth guidance and flagged revenue headwinds from West Asia. Meanwhile, Infosys has entered into a strategic long-term collaboration with Valmet.
  • Tata Motors Passenger Vehicles (TMPV) down by 4.36% was another top loser of the week on Nifty - TMPV came under pressure after Jaguar Land Rover unveiled financial outlook for FY27, which fell short of market expectations on key parameters such as profitability. JLR remains largest contributor to the company’s revenue. Meanwhile, TMPV is all set to increase prices of its passenger vehicle portfolio by up to 1.5%, effective July 01, 2026.

Technical viewpoints

During the week, CNX Nifty touched the highest level of 24,189.25 on June 18 and lowest level of 23,313.90 on June 15. On the last trading day, the Nifty closed at 24,013.10 with weekly gain of 390.20 points or 1.65 percent. For the coming week, 23,488.25 followed by 22,963.40 are likely to be good support levels for the Nifty, while the index may face resistance at 24,363.60 and further at 24,714.10 levels.

US Market

The U.S. markets traded higher during the week after the U.S. and Iran signed an interim agreement that ⁠would end the Iran war, reopen the Strait of Hormuz.

Some of the major developments during the week are:  

Philly fed index jumps back into positive territory in June: The Philly Fed said its diffusion index for current general activity shot up to a positive 10.3 in June from a negative 0.4 in May, with a positive reading indicating growth. 

U.S. initial jobless claims dip in week ended June 13: Initial jobless claims dipped to 226,000, a decrease of 4,000 from the previous week's revised level of 230,000.  

Business inventories in U.S. increase in April: Business inventories in the U.S. climbed by 0.5 percent in April after jumping by an upwardly revised 1.0 percent in March.

Pending home sales in U.S. spike in May: Pending home sales in U.S. spiked by 3.8 percent to 76.8 in May after rising by 0.3 percent to a downwardly revised 74.0 in April. 

Fed leaves interest rates unchanged: The Fed said it decided to maintain the target range for the federal funds rate at 3.50 to 3.75 percent, citing its dual goals of maximum employment and inflation at the rate of 2 percent over the longer run.

European Market

European markets exhibited mixed trend during the passing week, as concerns about interest rates following the Federal Reserve's hawkish tone rendered the mood bearish.

Some of the major developments during the week are:

Bank of England keeps rate unchanged as expected: The Monetary Policy Committee, led by Governor Andrew Bailey, voted 7-2 to hold the bank rate at 3.75 percent, which is the lowest rate since June 2023.

Swiss Central Bank keeps rate on hold: The central bank left its policy rate at zero percent, in line with market expectations.

Italy current account surplus grows in April: The current account surplus rose to EUR 2.3 billion in April from EUR 1.1 billion in the corresponding month last year.

Eurozone inflation confirmed at 3.2%: Inflation advanced to 3.2 percent, the strongest since September 2023, and remained unchanged from the estimate published on June 2. This followed April's 3.0 percent increase.

Italy inflation confirmed at 32-month high: Consumer price inflation accelerated to 3.2 percent in May from April's 2.7 percent. Moreover, this was the highest inflation rate since September 2023, when prices rose 5.3 percent.

Asian Market

Asian markets, barring Hang Seng Composite Index, traded in green during the passing week on optimism about the end of the Middle East war amid the inking of an interim peace agreement and the opening of the Strait of Hormuz.

Some of the major developments during the week are:

Japan core inflation holds steady in May: Japan’s annual inflation rate edged higher to 1.5% in May 2026 from 1.4% in the previous month, as declines in electricity and gas prices moderated amid the expiration of government subsidies.

Japan core machinery orders jump in April: Japan’s core machinery orders, which exclude volatile sectors, rose by 8.7% M-o-M to JPY 1,098.5 billion in April 2026, marked a sharp rebound from 9.4% decline recorded in March.

Japan logs trade deficit in May: Japan’s trade deficit narrowed sharply to JPY 378.7 billion in May 2026 from JPY 662.5 billion a year earlier, well below market expectations of JPY 564.6 billion, as exports outpaced imports.

Hong Kong jobless rate remains stable: Hong Kong's seasonally adjusted unemployment rate stood at 3.7% in three months ending in May 2026, unchanged from previous period and remaining at its lowest level since three months ending in August 2025. 

China retail sales fall for first time since 2022: China’s retail sales fell 0.6% year-on-year in May 2026, the first decline since December 2022, following a 0.2% gain in April and defying expectations of a flat reading.
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