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• Equity markets witnessed a strong rally, with the Sensex surging nearly 1,700 points and the Nifty closing above the 23,600 mark, driven by optimism surrounding a potential peace agreement between the US and Iran. Investors cheered reports that the two nations are close to finalizing a deal, which could be signed in Geneva as early as Sunday and may lead to the reopening of the Strait of Hormuz, a crucial route for global oil shipments.

• The positive sentiment was reflected across global markets, with US index futures advancing 1-3% on expectations of easing geopolitical tensions. Meanwhile, Brent crude prices declined 4% to a three-month low of $86 per barrel after US President Donald Trump indicated that a deal with Iran was within reach, boosting hopes of improved oil supplies and reduced energy costs.

• The Sensex climbed 1,697 points, or 2%, to settle at 75,527, while the Nifty gained 461 points, or 2%, to close at 23,622. The rally was broad-based, with strong buying interest across sectors. Key gainers included Tata Steel, IndiGo, L&T, Eternal, SBI, and Tech Mahindra, which rose by up to 3%.

• Broader markets also participated in the uptrend, as both the Nifty Midcap 100 and Nifty Smallcap 100 indices advanced nearly 2%. Banking stocks outperformed, with the Bank Nifty emerging as the top sectoral gainer, rising 3%. NBFCs, defence stocks, and oil marketing companies also posted impressive gains, reflecting widespread investor confidence.

Technical Outlook :

• Nifty index opened gap up by around 250 points and witnessed consolidation for most part of the day but respected the support levels of 23300 levels. It skyrocketed in the second half and escalated to 23650 levels with bulls in full strength. It formed a big bullish candle on the daily frame and closed near its day’s high with gains of around 460 points. It formed a strong bullish candle on the weekly frame and covered most of the losses of the previous week. Now it has to hold above 23600 for an up move towards 23850 then 24000 zones while support can be seen at 23450 then 23300 zones.

• S&P BSE Sensex index opened with a gap up of more than 1000 points and witnessed slight profit booking in the first half of the session, dragging the index lower by nearly 400 points. However, it respected the support of 74500 zones and staged a strong recovery thereafter. Buying momentum picked up in the second half as the index moved higher towards 75300 marks and closed near it’s day's high. On the daily and weekly charts, it formed a strong bullish candle indicating strength in the ongoing up move. The index took support near its 10 DEMA and sustained above the same. Now it has to hold above 75500 zones for a bounce towards 75700 then 76000 levels while on the downside support is seen at 75000 then 74700 zones.

Derivative Outlook:

• Nifty future closed positive with gains of 2.22% at 23714 levels. Positive setup seen in Idea, Hyundai, Torrent Pharma, ICICI Bank, Kotak Bank, RBL Bank, Grasim, Zydus Life and JSW Steel while weakness seen in Paytm, PFC, Amber, Bandhan Bank, LTM, UPL, Infosys, Jubilant Food, MFSL and CAMS.

• On option front, Maximum Call OI is at 24000 then 23700 strike while Maximum Put OI is at 23500 then 23400 strike. Call writing is seen at 24000 then 23700 strike while Put writing is seen at 23500 then 23400 strike. Option data suggests a broader trading range in between 23200 to 24100 zones while an immediate range between 23400 to 23800 levels.

• Govt offers retrospective tax relief for nuclear power equipment imports - Finance ministry waived customs duties on all goods imported for nuclear power generation, covering imports made between April 1, 2019 and January 31, 2026, according to a government order dated June 11. The move grants retrospective tax relief to eligible imports used in the country's nuclear power sector and is expected to lower project costs for operators and equipment suppliers.

• Axiscades to Sell Aero Engineering Ops to Akkodis for $206.3M - Company has agreed to sell its aerospace engineering services business to Akkodis for a total consideration of $206.3 million, the company said in a statement to exchanges.

• JSW Infra - Company’s board is weighing raising up to Rs6000cr through a qualified institutional placement to fund capital expenditure and meet SEBI minimum public shareholding requirements.

• PNB - Company expects a good response to FCNR-B deposits and said there are no immediate liquidity concerns. MSME lending is growing at around 21%, while the agriculture loan segment is seeing faster expansion. About 30-35% of the loan book is linked to MCLR, and the cost of deposits may ease due to the FCNR-B push.

• ESAF Small Finance Bank business Update - Company reported its total business at Rs 50,029 crore as of June 11. Total deposits stood at Rs 26,197 crore. Gross advances were at Rs 23,832 crore.

• Hexaware Says Court Dismisses Natsoft Patent Infringement Claims - Company said a US federal court dismissed all patent infringement claims filed by Natsoft and Updraft, ruling the asserted patents covered abstract ideas. Natsoft and Updraft had initially claimed $500 million in damages.

• Sagility: Signed a definitive pact to acquire 100% of Careseed LLC for an amount up to $30 million

Global Market Update :

• European Market - European stocks advanced by the most in more than a month as oil retreated on optimism the US and Iran will soon reach a peace deal. Both Germany and France Index gained 0.5% each.

• Asian Market - Asian equities rallied after US President Donald Trump signaled the US is close to signing a deal with Iran, fueling expectations that the Middle East conflict is nearing an end. Japan, China, Hong Kong, South Korea and Taiwan Index gained up to 4%.

• US Data - 1-Year Inflation expectation.

• Commodity - Brent Crude prices have fallen by 4% to a three-month low at $86/bbl after Donald Trump claimed he was close to reaching a deal with Iran, sparking fresh hopes among investor

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