Stock MarketOpen, June 24, 2026: Markets Rebound at Open as US-India Trade Talks & Iran Peace Progress Lift D-Street; Sensex Up 286 points, Nifty Surges 55 points

Mumbai, June 24: Indian benchmark indices bounced back firmly at the open on Wednesday, shaking off Tuesday’s steep profit-booking selloff as a combination of upbeat geopolitical signals and improving bilateral trade prospects with the United States lifted sentiment on Dalal Street.

The BSE Sensex was trading at 76,486.75, up 286.07 points or 0.38%, while the NSE Nifty 50 stood at 23,879.20, higher by 55.10 points or 0.23%, as of 9:41 to 9:42 am, a constructive start that reflected buyers stepping in confidently after Tuesday’s sharp decline.

Commerce and Industry Minister Piyush Goyal met US Trade Representative Jamieson Greer in New Delhi as both sides pushed to finalise an interim trade pact ahead of July 24, when Washington’s temporary 10% tariff is set to lapse, adding a domestic policy tailwind to an already improving global mood.

Gainers & Losers

Among early Nifty 50 gainers, Dr Reddy’s Laboratories (DRREDDY) led with an LTP of Rs 1,340.30, up 3.00% from a previous close of Rs 1,301.30, as pharma stocks attracted fresh buying. Tech Mahindra (TECHM) surged 2.57% to Rs 1,452.00 from Rs 1,415.60, staging a strong recovery; ICICI Bank (ICICIBANK) gained 1.95% to Rs 1,364.40 from Rs 1,338.30; Trent (TRENT) added 1.37% to Rs 3,186.00 from Rs 3,142.90; and Infosys (INFY) rose 1.09% to Rs 1,040.50 from Rs 1,029.30.

On the losing side, Bajaj Auto (BAJAJ-AUTO) was the steepest decliner with an LTP of Rs 9,835.00, down 1.90% from a previous close of Rs 10,025.00. HDFC Life (HDFCLIFE) fell 1.31% to Rs 589.65 from Rs 597.45; Hindalco (HINDALCO) slipped 1.09% to Rs 976.00 from Rs 986.80; SBI Life (SBILIFE) eased 1.09% to Rs 1,766.80 from Rs 1,786.20; and Maruti Suzuki (MARUTI) lost 1.09% to Rs 13,304.00 from Rs 13,451.00.

Broader Markers & Sectoral Indices

In the broader market, the picture was mixed, with large-cap indices leading the recovery while mid- and small-cap stocks lagged. Among broad indices in positive territory, the Nifty Bank gained 0.58% to 57,517.20, the Nifty 100 rose 0.21% to 24,959.10, and the Nifty 200 added 0.15% to 13,832.25. The Nifty Midcap 100 eased 0.09% to 62,013.90, the Nifty Smallcap 100 slipped 0.12% to 18,783.65, and the Nifty Auto fell 0.37% to 26,398.45, held back by Bajaj Auto and Maruti Suzuki weakness.

On the sectoral front, Nifty Pharma advanced 0.74% to 25,175.15 and Nifty IT gained 0.72% to 27,205.30, with both sectors extending their recent recovery momentum, while Nifty Healthcare Index rose 0.69% to 16,028.75. On the downside, Nifty Metal fell 0.67% to 12,584.65, Nifty Media slipped 0.32% to 1,509.60, and Nifty Auto declined 0.37% to 26,398.45 as selling in automobile names weighed.

Iran War

The US Senate on Tuesday voted 50-48 to pass a war powers resolution directing President Trump to halt military action against Iran, marking the first time both chambers of Congress had passed such a resolution since 1973, a move that is expected to keep political pressure on the White House to sustain the peace process rather than resume hostilities. The White House dismissed the vote as non-binding, but market participants read the bipartisan signal as reducing the risk of a conflict resumption, with oil tankers stranded in the Gulf since the Iran war beginning to move through the Strait of Hormuz after Washington granted Tehran a 60-day sanctions waiver.

Asian and US Markets

Asian markets were mixed on Wednesday morning, with Australia’s S&P ASX All Ordinaries gaining 0.32% to 9,017.00 and Hong Kong’s Hang Seng edging up 0.10% to 23,358.85, while Japan’s Nikkei 225 fell 0.55% to 69,407.92, the Shanghai Composite eased 0.26% to 4,095.50, and Indonesia’s JSX Composite slipped 0.25% to 6,101.33. On Wall Street, Tuesday’s session was broadly negative, with the Nasdaq Composite plunging 2.21% to 25,587.04 and the S&P 500 declining 1.44% to 7,365.46 in the day’s sharpest fall, while the Dow Jones Industrial Average was relatively resilient, losing just 0.09% to 51,666.84.

Oil Prices

Oil prices extended their decline on Wednesday, with Brent crude slipping 0.5% to $76.71 a barrel and US West Texas Intermediate falling 0.5% to $72.85 a barrel, with both benchmarks trading near four-month lows as more oil tankers stranded in the Gulf since the start of the Iran war prepared to transit the Strait of Hormuz. Prices have been under sustained pressure this week following Washington’s 60-day Iran sanctions waiver and the easing of hostilities in Lebanon, which together raised expectations of a gradual recovery in Iranian crude exports. Analysts at Mitsubishi UFJ Research and Consulting noted that further progress in nuclear negotiations could push prices back to pre-war levels, a development that would be significantly positive for India as a large crude importer.

Indian Markets on Tuesday

Indian benchmark indices had tumbled sharply on Tuesday, with the BSE Sensex plunging 893.39 points, or 1.16%, to close at 76,200.68, and the NSE Nifty 50 declining 278.80 points, or 1.16%, to settle at 23,824.10, as investors booked profits aggressively after the recent rally. The selloff was compounded by weak domestic data, with India’s private sector activity moderating to a three-month low in June as growth in both services and manufacturing lost momentum, services expanding at its slowest pace in 17 months. Market breadth was decisively negative, with 2,678 stocks declining against just 1,420 advancing across the NSE.

Sources:

• https://www.reuters.com/world/us/us-senate-joins-house-voting-halt-iran-war-rebuking-trump-2026-06-23/
• https://www.reuters.com/business/energy/oil-prices-extend-decline-expectations-smoother-crude-flows-via-hormuz-2026-06-24/
• https://www.reuters.com/markets/stocks/americas/
• https://timesofindia.indiatimes.com/business/india-business/indiaus-trade-deal-may-be-signed-before-july-24-whats-done-and-remaining-for-agreement/articleshow/131943176.cms