Equities, Rupee Gain for Fifth Straight Session on Lower Oil Prices

An end-of-day recap of all that transpired in the Indian markets, highlighting the major price movements and the factors driving them

By Dehuti Jani

June 18, 2026 at 11:57 AM IST

Indian equity benchmarks extended gains for a fifth consecutive session on Thursday as lower crude oil prices, a stronger rupee and easing bond yields outweighed weakness in information technology stocks following the US Federal Reserve's hawkish policy guidance.

The Nifty50 rose 82.30 points or 0.34% to close at 24,168.00, while the BSE Sensex gained 254.36 points or 0.33% to 77,409.98. The benchmarks have advanced 4.3% and 4.8%, respectively, over the past five sessions. Markets remained range-bound for most of the day before likely foreign buying lifted indices in the final hour of trade.

Domestic sentiment continued to benefit from the US-Iran peace agreement, which pushed Brent Crude down 2.1% to $77.8 per barrel. Lower oil prices supported India's macroeconomic outlook, helping the rupee extend its winning streak and government bondyields move lower. The rupee strengthened for a fifth straight session, its longest run of gains in a year, closing at 94.3325 per US dollar, while the benchmark 6.94% GS 2036 yield fell sharply towards 6.83% during intraday trade on expectations of stronger foreign inflows and supportive global fixed-income cues.

Thirteen of the 16 major sectoral indices ended higher. PSU banks, healthcare, realty and consumer durable stocks outperformed, while IT shares lagged after the Federal Reserve signalled the possibility of another rate hike later this year. Among Nifty50 gainers, Max Healthcare Institute, InterGlobe Aviation and Adani Enterprises led advances. Broader markets also remained firm, with the Nifty MidCap and Nifty SmallCap indices gaining 0.41% and 0.44%, respectively.

Top Movers of the Day

NTPC emerged as a top winner today, climbing 1.81% with its share price around ₹362. The power giant gained on sustained buying pressure in the power sector, driven by bullish sentiment around India's energy demand and stable utility performance.

HDFC Bank joined the winners' list, rising 1.74% to trade at ₹800.80. The banking sector saw strong momentum today, with private banks like HDFC Bank benefited from positive domestic cues and renewed investor confidence in the financials storyline.

Tata Steel gained 0.75%, closing near ₹200.50 per share. The metal stock rallied as global trade developments, particularly progress in US-China negotiations, lifted sentiment across commodity and steel stocks globally.

Asian Paints advanced 0.54% at ₹2,752, joining the list of gainers as paint manufacturer's rise reflected broader buying in consumer-facing industrial stocks amid stable demand outlooks.

Adani Ports SEZ rose 0.90% at ₹1,845.10, benefiting from strength in the logistics and port sector. The stock's gain aligned with positive momentum in infrastructure-related stocks as investors focused on India's trade and shipping growth trajectory.

Hindustan Unilever jumped 0.72% at ₹2,213.50, with the FMCG giant gaining around 2% as seen in recent trading sessions. The stock rose on stable consumer demand expectations and resilience in the personal care and food segments.

Nykaa (FSN E-Commerce Ventures) stood out as a standout gainer, surging 6.07% during intraday trading to hit a 52-week high around ₹298. The e-commerce player announced an aggressive FY30 vision targeting a $5 billion+ beauty and lifestyle business, with plans to triple revenue through AI-led growth, stronger margins, and expansion across online and offline channels.

Bata India emerged as a winner, gaining 16.57% with shares around ₹795.5. The footwear manufacturer's rise reflected strength in consumer discretionary stocks and steady demand for domestic retail brands.

Nestle India led the losers today, declining 0.52% at ₹1,400 amid profit-taking in large-cap FMCG stocks. The food giant faced selling pressure as investors rotated out of defensive consumer staples into more growth-oriented sectors.

Kotak Mahindra Bank fell 0.4% today, closing at ₹403.00. The automotive stock dipped slightly amid modest selling pressure in the auto sector, as investors took some profits off the table after recent gains.

Reliance Industries fell 0.1% today, closing at ₹1,331. The conglomerate dipped slightly amid modest selling pressure in the oil-to-chemicals sector, as investors took some profits off the table after recent gains.

Futures & Options
Nifty June 2026 futures closed at 24,209, a premium of 41 points over the spot Nifty 50 close of 24,168, indicating continued positive sentiment despite a moderation in the futures premium. In the cash market, the Nifty 50 gained 82.30 points or 0.34%, extending its winning streak to five sessions. Meanwhile, India VIX declined 3.90% to 12.67, reflecting easing market volatility expectations.

Among stock futures, HDFC Bank, Infosys and Tata Motors were the most actively traded contracts in the NSE F&O segment. The June 2026 derivatives series will expire on 30 June 2026.

Bonds
India’s government bond benchmark yields declined further on Thursday, supported by foreign investor buying, lower oil prices and softer US Treasury yields. The benchmark 6.94% GS 2036 yield fell to 6.8387% from 6.8626% on Wednesday.

Dealers said FPIs were seen buying benchmark gilts amid expectations that India could soon be included in the Bloomberg Global Aggregate Index. Profit booking emerged as the benchmark yield approached 6.83%, limiting further gains.

Forex
Indian rupee strengthened for a fifth consecutive session on Thursday, marking its longest winning streak in a year, as exporter dollar sales and lower crude oil prices outweighed the impact of a hawkish US Federal Reserve outlook. The rupee closed at 94.3325 against the US dollar, up 0.2% from the previous session and about 1.5% stronger over the last five trading days.

The currency initially weakened to an intra-day low of 94.7025 after the Federal Reserve signalled a tighter policy path, but later rebounded sharply to touch 94.19, its strongest level in six weeks. Support also came from falling Brent Crude prices, which declined around 2.5% after the US and Iran signed an interim peace agreement. Lower oil prices reduce India's import bill and curb dollar demand from oil marketing companies, providing a favourable backdrop for the domestic currency.

Crypto
Crypto markets eased on Thursday as investors digested a hawkish policy message from the US Federal Reserve and reassessed expectations for interest rates.

Bitcoin traded near $64,100, down about 1% over the past 24 hours, with a market capitalisation of roughly $1.29 trillion. Despite the decline, Bitcoin remained up around 2% over the past week after recovering from recent lows. Ethereum traded near $1,740, while Solana hovered around $72. The broader crypto market gave back part of the recent rally that had been fuelled by easing geopolitical tensions and progress on the US-Iran peace agreement.

US Stock Futures
US stock futures rose on Thursday as investors looked to recover from the previous session’s selloff triggered by the Federal Reserve's indication that another rate hike remains possible later this year. Futures linked to the S&P 500 gained 0.9%, while Nasdaq-100 futures climbed 1.6%. Futures tied to the Dow Jones Industrial Average advanced 303 points, or 0.6%.

Technology and semiconductor stocks led premarket gains. Intel surged 9% after Donald Trump said the company would partner with Apple to design chips in the US Shares of NVIDIA and Micron Technology also rose 1.2% and 4.7%, respectively.

US Treasury Notes
US Treasury yields were steady to slightly higher on Thursday as investors digested the Federal Reserve's hawkish policy signals and updated economic projections. The benchmark 10-year Treasury yield hovered near 4.46% after rising in the previous session, while the policy-sensitive 2-year Treasury yield edged up to around 4.14%.

Bond markets continued to price in a higher-for-longer interest rate environment after the Federal Reserve indicated that a rate cut may be delayed and left open the possibility of further tightening if inflation remains persistent. Investors are also assessing the central bank's updated forecasts for growth, inflation and the year-end federal funds rate, which reinforced expectations that monetary policy will remain restrictive for longer than previously anticipated.

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