Gift Nifty Points to Positive but Cautious Open for Markets on Tuesday

Mumbai, June 16: Domestic equity markets are set to open on a positive but cautious note on Tuesday, with Gift Nifty futures signalling a modest gap-up start as investors balance optimism over a preliminary US-Iran ceasefire agreement against lingering uncertainty over its terms and the pace of oil supply restoration through the Strait of Hormuz. Sentiment remains constructive but fragile, with global markets in a wait-and-watch mode as finer details of the accord are expected to be released over the next two days. 

Gift Nifty Signals Flat-to-Positive Open 

Gift Nifty futures were trading at 23,959.00, up 28.50 points or 0.12%, as of 08:04 am on June 16, 2026, suggesting the Nifty 50 is headed for a modestly higher open. The reading comes against Monday’s NSE Nifty 50 close of 23,853.90, implying a premium of approximately 105 points at the open — a measured positive signal rather than an aggressive gap-up. 

Iran War: Ceasefire Deal Signed, Details Unclear 

US President Donald Trump announced on Monday that a preliminary agreement to end the war in the Gulf has been signed by the United States and Iran, though full details have yet to be made public. The agreement extends a tenuous ceasefire first announced in April by another 60 days and commits to reopening the Strait of Hormuz, which Iran has effectively blocked since the US and Israel attacked Iran in February. Iranian President Masoud Pezeshkian described the memorandum of understanding as an “important step” toward halting the fighting, but noted a final, lasting truce “has yet to take shape.” US Vice President JD Vance, who said the signed document was approximately one-and-a-half pages long, is expected to attend a formal signing ceremony in Geneva on Friday, with negotiators set to address Iran’s nuclear programme in the next phase of talks. 

Asian Markets on Tuesday Morning 

Asian markets on Tuesday presented a mixed picture, with Indonesia’s JSX Composite Index leading regional gains, surging 4.12% to 6,254.97, while Pakistan’s KSE 100 added 2.69% to 177,039.83 and Malaysia’s FTSE Bursa Malaysia KLCI rose 1.14% to 1,702.77. On the downside, Hong Kong’s Hang Seng Index fell 1.32% to 24,515.95, while Australia’s S&P ASX All Ordinaries Index slipped 0.35% to 9,096.40. Japan’s Nikkei 225 edged down 0.12% to 69,234.42, while China’s Shanghai SE Composite Index was marginally lower at 4,094.12, down just 0.06%. Vietnam’s HNX 30 bucked the regional softness with a 0.87% gain to 520.75. 

US Markets Closed Higher on Monday 

Wall Street posted broad gains on Monday, with the Nasdaq Composite surging 3.07% to 26,683.94 — the strongest performer among major US indices — as technology stocks rallied sharply on the ceasefire news and a steep fall in oil prices. The S&P 500 rose 1.65% to 7,554.29 and the Dow Jones Industrial Average gained 0.92% to close at 51,671.03. The NYSE Composite added 0.33% to 23,673.66, while Canada’s S&P/TSX Composite also advanced 0.97% to 35,275.64, reflecting broad risk-on appetite across North American markets. 

Oil Rebounds on Uncertainty Over Supply Restoration 

Oil prices staged a partial recovery on Tuesday after falling nearly 5% in the prior session following Trump’s ceasefire announcement. Brent crude futures gained 0.3% to $83.42 a barrel, while US West Texas Intermediate rose 0.3% to $81.12 a barrel as of 01:08 GMT, as traders reassessed the timeline for a resumption of supply through the Strait of Hormuz — the narrow waterway that handled roughly one-fifth of the world’s oil trade before Iran’s blockade cut off approximately 14 million barrels per day of output. Monday’s steep decline had taken oil to its lowest close since March 4, days after the Strait of Hormuz was first effectively closed. 

Indian Markets Closed Sharply Higher on Monday 

Indian benchmark indices closed sharply higher on Monday, with the BSE Sensex rising 736.38 points, or 0.97%, to 76,264.33, and the NSE Nifty 50 gaining 231 points, or 0.98%, to settle at 23,853.90, as easing Middle East tensions and the more-than-4% drop in crude oil prices triggered broad-based buying across sectors. Market breadth was firmly positive, with 2,973 stocks advancing, 1,245 declining and 185 unchanged on the BSE. The rally was broad-based, with auto, financial services and realty leading sectoral gains as lower crude costs lifted margin expectations across oil-sensitive industries. 

Source

•  nseindia.com