The Prime Weekly: 15 June 2026

Indian markets are poised for a strong start, supported by easing geopolitical tensions and a sharp decline in crude oil prices

U.S. stock futures are trading firmly higher today after President Trump announced on Sunday that Washington has reached a peace agreement with Iran, ensuring an immediate ceasefire and reopening of the Strait of Hormuz. Dow Jones Industrial Average futures are up nearly 400 points (0.77%), S&P 500 futures have gained over 1%, while Nasdaq 100 futures are leading with a 1.7% rise.

U.S. markets ended last week on a positive note, with all three major indices gaining around 0.7%, supported by easing Middle East tensions, falling oil prices, and optimism around economic growth.

U.S. stocks rose on Friday as SpaceX’s opening pop bolstered sentiment, with investors hoping for the arrival of a potential peace deal between the U.S. and Iran. The S&P 500 closed higher by 0.5% at 7,431, while the Nasdaq Composite added 0.31% to finish at 25,888. The Dow Jones Industrial Average advanced 353.51 points, or 0.7%, to settle at 51,202.

SpaceX made a strong debut on the Nasdaq, listing at $150 per share as against IPO Price of $135. The stock soared more than 20% shortly after it opened and eventually closed nearly 19% higher at around $161.

The CBOE Volatility Index (VIX) declined 9% to 17.69, reflecting a sharp drop in market uncertainty.

Crude oil prices witnessed a steep correction. WTI fell 3.2% to close at $84.88 per barrel, while Brent declined 3.37% to $87.33. The weakness extended into today’s session, with WTI trading nearly 5% lower at $80.70 and Brent trading lower by 4% at $83.70, following the easing of geopolitical risks.

Gold rose 3.03% to $4,239 per ounce, while silver surged over 6% on Friday. The rally extended further today, with gold climbing above $4,343 and silver gaining over 3% to $70.45, supported by a weaker U.S. dollar and expectations of easing inflation.

Asia-Pacific markets trading strongly higher today, with South Korea’s Kospi and Japan’s Nikkei 225 leading the gains in the region, trading higher by more than 5%.

Back Home, India’s retail inflation inched closer to the Reserve Bank of India’s 4 percent medium-term target in May, rising to 3.93 percent, largely in line with the expectations from 3.48 percent in April, as food, transport and jewellery prices pushed consumer prices higher.

After two consecutive sessions of decline, the Nifty staged a strong rebound on Friday, gaining 461 points (1.99%) to close at 23,622—its sharpest single-day percentage rise since April 8, 2026.

On a weekly basis, the index snapped a two-week losing streak to end with a 1% gain. Market breadth strengthened significantly on Friday, with the BSE advance-decline ratio climbing to 3.11, the highest since April 17.

FIIS have started covering shorts/creating fresh longs in the Index futures segment which augurs well for the markets going forward.

Technically, the sharp up move in Nifty has led to a decisive breakout above the swing high resistance of 23,425, indicating a bullish trend reversal. The breakout is further reinforced by the index closing above its 20-day moving average. The earlier resistance zone of 23,425–23,516 is now expected to act as immediate support, while the while the next resistance is seen in the 24,000–24,100 range. Any close above 24100 may push Nifty towards the next resistance of 24400-24500 band.