Quote on Daily Market Commentary for June 15th 2026 by Siddhartha Khemka - Head of Research, Motilal Oswal Financial Services Ltd
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Below the Quote on Daily Market Commentary for June 15th 2026 by Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd
Indian equities extended their gains on Monday as improving global risk sentiment and a sharp correction in crude oil prices boosted investor confidence. Market sentiment remained upbeat following reports that the US and Iran have reached an agreement, ending their 15-week conflict and paving the way for the reopening of the Strait of Hormuz. The development eased concerns over global energy supplies and supported risk assets across markets. The Nifty50 advanced 1.0% to close at 23,854. Broader markets continued to outperform, with the Nifty Midcap100 and Smallcap100 indices rising 1.3% and 1.1%, respectively, reflecting sustained risk appetite and positive market breadth. Sectorally, Realty emerged as the top performer, rallying 4.0%, followed by Consumer Durables (+2.9%), Auto (+2.6%), Metal (+1.8%) and Oil & Gas (+1.5%). The strong performance in domestic cyclical sectors reflected optimism around lower energy costs, improving consumption prospects and supportive economic fundamentals. On the macro front, Brent crude tumbled nearly 5% to around USD 82.9 per barrel, its lowest level since March, providing relief to India's inflation outlook and external balances. The rupee appreciated 62 paise to 94.45 against the US dollar, while India VIX declined 2.5% to 14.18, signalling easing volatility and a constructive setup for near-term risk appetite. Meanwhile, India's CPI inflation accelerated to 3.9% YoY in May'26 from 3.5% in April, driven by higher fuel and food prices. Transport inflation rose to 1.8%, while food inflation increased to 4.8%. With core inflation firming to 3.9% and the RBI recently raising its FY27 CPI forecast to 5.1%, inflation dynamics remain a key monitorable despite the near-term relief from softer crude prices. Going forward, investors will closely track the formal signing of the US-Iran agreement scheduled on June 19, crude oil price trends, FII flow dynamics and evolving inflation expectations for further market direction.
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