NIFTY50, SENSEX rally over 1% on positive global cues; Trent, Shriram Finance, IndiGo lead gains

At 9:15 am, the NIFTY50 index opened 1.08% or 250 points higher at 23,412.55 points on Friday, compared to 23,161.60 points at the previous stock market close, as per the NSE data.

While the SENSEX index jumped at the market open, surging 1.19% or 876 points higher at 74,709.27 points on June 12, compared to 73,832.55 points at the previous market close, as per the exchange data.

Before the opening bell on Friday, the GIFT NIFTY futures were trading 0.07% higher at 23,419.50 points, indicating that the NIFTY50 was expected to open around 257 points higher.

Key focus of investors was turned towards the potential US-Iran peace deal after President Trump announced that the negotiations and final points of an agreement has been “approved” by all parties involved. However, the time and place of the signing will be announced soon.

Why are markets rising today?

The Indian stock market rallied in the early market session on Friday, after investors focused on the positive momentum of global stocks amid lower oil prices and high hopes of an upcoming US-Iran peace deal.

The domestic equities witnessed a push from the Asian equities, which were witnessing a rally due to the lower oil prices and tech sector rebound bets fuelled by SpaceX IPO, and a positive US market close.

Nikkei 225 up over 3%, KOSPI’s 7% surge were among the top gainers among Asian market indices.

The latest post from US President Donald Trump signalled an upcoming peace deal between the US and Iran, as the ongoing negotiations have hit a breakthrough on Thursday evening during the 15th week of the war.

“Discussions and final points have been, in both concept and great detail, approved by all parties involved,” said Trump in his Truth Social post.

Major support was also seen as crude oil prices dropped below $90 per barrel after the peace deal update. Over the last one week, crude oil futures have declined by over 4% due to the impact of the improving geopolitical conditions.

The Indian rupee also strengthened against the US dollar, trading 0.69% stronger at 95.095 as of 9:46 am (IST), compared to 95.76 against the greenback at the previous currency market close.

Top gainers & losers today

Stocks like Larsen & Toubro, IndiGo, Shriram Finance, Trent, Tata Motors PV, and Bajaj Finance shares were among the top gainers on the NIFTY50 index during the early market session on Friday.

Larsen & Toubro shares were up 3.3%, IndiGo shares were up 3.3%, Shriram Finance was up 3.1%, Trent was at 2.3%, Tata Motors PV was up 2.3%, and Bajaj Finance was up 2.3% were the top gainers on June 12.

While other stocks like ONGC, Tech Mahindra, Hindalco, Coal India, Nestle India, and Power Grid Corp. were among the losers on Friday’s early trading hours.

ONGC was down 1.7%, Tech Mahindra down 0.63%, Hindalco down 0.5%, Coal India down 0.3%, Nestle India down 0.2%, and Power Grid Corp. down 0.09% were the losers.