Weekly Market Wrap: SENSEX rises 2%, NIFTY50 up 1% as metal and banking stocks rally; Kotak Mahindra Bank leads

The equity benchmark indices snapped their losing streak and ended the week on a positive note, tracking various global cues. The NIFTY50 surged 256.2 points, or 1.1%, during the week, while the BSE SENSEX gained 1,284.61 points, or 1.7%.

A rally in heavyweights and banking stocks on Friday lifted the overall benchmark index returns on reports of a draft truce deal between the United States and Iran.

The investors turned optimistic after the latest media reports suggested that the United States and Iran have agreed on a draft memorandum of understanding (MoU) to reopen the Strait of Hormuz, cancel oil sanctions against the country, and release frozen Iranian funds in exchange for no nuclear weapon ambitions.

Further, drop in crude oil prices on Friday also added to the market momentum. The crude oil prices slipped to their lowest level since March 10, 2026, after reports emerged on a draft memorandum of understanding (MoU) being finalised between the United States and Iran amid the 15th week of the ongoing West Asia conflict.

The data further showed that the oil prices have declined more than 7% in the last week and more than 19% in the past month. The West Texas Intermediate (WTI) crude oil prices were seen 4.3% lower at $83.91 per bbl as of the market session on June 12, compared to $87.71 per bbl at the previous market close.

Weekly gainers and losers

After Friday’s rally, the stock investors became richer by ₹9.66 lakh crore. The market capitalisation of BSE-listed companies surged by ₹9,66,538.35 crore to ₹4,62,00,318.80 crore ($4.84 trillion). The NSE-listed firms’ market capitalisation stood at ₹462 lakh crore.

How the broader market performed this week

During the week, the Nifty Midcap 100 ended flat while the Nifty Smallcap 100 advanced 0.5%.

Shares of Ashok Leyland gained after reports suggested that the second-largest manufacturer of commercial vehicles is set to enter a new era in its defence mobility business. Top executives of the company told Business Standard that the company's defence team is exploring multiple new-age options, including a possible entry into the logistics drone business and an autonomous version of its legendary defence brand, Stallion.

Hitachi Energy India this week said it plans to invest ₹2,000 crore to set up a power transformer factory in Vadodara. The company said that it is investing approximately ₹2,000 crore to establish a new Large Power Transformer (LPT) factory in Karjan, Vadodara, according to a regulatory filing.

Sectoral watch this week

Among sectors, the Nifty Private Bank index was the biggest gainer, jumping 5.1%, followed by Nifty Bank, which rose 4.3%. Nifty PSU Bank and Nifty FMCG climbed 3.3% and 1.1%, respectively, while the Nifty Pharma index ended the week 0.5% higher.

The Nifty IT (-4.2%), Nifty Metal (-2.8%), Nifty Media (-1%), Nifty India Defence (-0.9%), and Nifty Oil & Gas (-0.8%) were the top losers by the end of the week.

India VIX, the volatility gauge, stood at 14.72 levels, slipping 6.8% during the week.