Domestic equity benchmarks extended their gains for a fourth consecutive session on Wednesday, supported by softer crude and easing concerns over foreign investor outflows. The BSE Sensex opened 272 points higher above the 77,000 mark, while the Nifty 50 climbed past 24,000 in early trade, as Brent crude slipped below $80 per barrel following optimism around US-Iran peace agreement that could ease supply disruptions and improve India’s macroeconomic outlook.
At 9.37 am, Sensex traded 259.10 points or 0.34 per cent higher at 77,067.58 after opening at 77,080.09, and Nifty 50 increased by 75.75 points or 0.32 per cent to 24,064.90 after opening at 24,044.50.
Investor sentiment received a boost from the sharp correction in global crude oil prices, which have retreated significantly over the past week. Lower crude prices are viewed as a positive for India as they help contain inflation, reduce the import bill and support corporate margins.
Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, said the steady decline in crude prices is emerging as a key positive for markets.
“There are two factors that are likely to influence the market trend in the near term. One is positive; the other is negative. The positive factor is the steady and sharp decline in crude prices. Brent crude has declined steeply by around 16 per cent in the last five days to about $79, thereby removing the major macro concern of a rising balance of payments deficit in India,” he said.
Vijayakumar added that tapering foreign institutional investor (FII) outflows and a strengthening rupee could further support equities. According to him, lower crude prices and expectations of strong capital inflows through the FCNR(B) deposit route may lead to further appreciation in the rupee, discouraging FII selling and potentially attracting fresh inflows.
Broader markets continued to fare well. The Nifty Midcap index rose 0.2 per cent, while the Smallcap index advanced 0.4 per cent. The India VIX remained largely unchanged around the 13 level, indicating stable market volatility.
Market breadth remained firmly positive. Of the 2,731 stocks traded on the NSE, 1,795 advanced, 847 declined and 89 remained unchanged. As many as 49 stocks touched their 52-week highs, while 12 hit 52-week lows. Additionally, 64 stocks were locked in the upper circuit and 16 in the lower circuit.
Sectoral performance was mixed, with information technology and consumer durables emerging as the top gainers, both rising more than 1 per cent. Metal stocks remained under pressure, extending losses from the previous session, while the realty index witnessed profit booking after recent gains. Cement, auto and FMCG counters also traded lower.
Among Nifty 50 constituents, Trent, Tech Mahindra, Infosys, Wipro and TCS led the gainers. On the other hand, Hindalco, Tata Motors Passenger Vehicles, NTPC and Adani Ports were among the major laggards.
In the midcap segment, Dixon Technologies, Voltas, Info Edge, Nykaa and Blue Star rallied 3-4 per cent. Oberoi Realty, National Aluminium, SAIL, Godrej Properties and MCX declined 1-2 per cent.
Among smallcaps, Brigade Enterprises, Five-Star Business Finance, Kaynes Technology, Redington and Pine Labs gained 3-6 per cent, while City Union Bank, Devyani International, Aditya Birla Real Estate and CESC slipped 1-2 per cent.
On the BSE, Anup Engineering, Brigade Enterprises, Ion Exchange and MapmyIndia surged 6-7 per cent, whereas Cyient, Lodha, GIC Re and DOMS Industries fell 2-4 per cent.
Despite the positive momentum, concerns over the progress of the southwest monsoon continued to linger. The monsoon has shown limited advancement in recent weeks amid El Niño-related concerns, raising fears of pressure on food inflation if rainfall remains deficient.
Vijayakumar noted that while the deficient monsoon remains a near-term risk, rainfall activity could improve in the coming weeks, easing concerns on the inflation front.
Global markets offered mixed signals ahead of the US Federal Reserve’s policy decision due later in the day.
Rajesh Palviya, Head of Research at Axis Direct, said optimism surrounding US-Iran peace developments helped the Dow Jones scale fresh record highs, but weakness in technology stocks weighed on the Nasdaq and kept the S&P 500 marginally lower.
He noted that the sharp decline in Brent crude to around $78.6 per barrel is a significant positive for India as lower energy prices improve the inflation outlook, reduce import costs and support corporate profitability.
Wall Street ended mixed overnight. The Dow Jones Industrial Average rose 329 points, or 0.64 per cent, to close at a record 51,999.67 after touching an intraday high of 52,190. The S&P 500 declined 0.57 per cent to 7,511.35, while the Nasdaq Composite fell 1.15 per cent to 26,376.34 amid weakness in semiconductor stocks.
Nandish Shah, Deputy Vice President at HDFC Securities, said markets are closely monitoring the Federal Reserve’s policy statement for signals on the future interest-rate trajectory under Chair Kevin Warsh.
Asian markets were trading mixed on Wednesday as investors awaited the Fed’s decision, while the Bank of Japan’s recent rate hike and plans to slow bond purchases continued to influence regional sentiment.
Market participants will closely track the outcome of the US Federal Reserve’s policy meeting later in the day. The central bank is widely expected to keep interest rates unchanged, but investors will look for guidance on the future policy path and any indication of a more hawkish stance.
For domestic markets, the trajectory of crude oil prices, monsoon progress and foreign fund flows are likely to remain the key factors driving sentiment in the near term.
On Tuesday, BSE Sensex settled 544.15 points or 0.71 per cent higher at 76,808.48, while the NSE Nifty 50 advanced 135.25 points or 0.57 per cent to close at 23,989.15.
Published on June 17, 2026
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