Stock Market Live Updates Today: BSE Sensex opens almost 1,000 points up, Nifty50 goes above 23,400 as Trump signals US-Iran deal; crude oil prices drop below $90

"In keeping with his ludicrous inconsistency, President Trump backed off from his threat to “ hit Iran very hard tonight” and declared that “ we are close to a great settlement to end the war “

How the agreement will pan out remains to be seen. But the good news is that Brent is sharply down to $89 with potential for more downside if the agreement becomes real.

Two consequences are likely from this development. India will succeed in managing the BoP crisis that we have been facing since the beginning of the war. Rupee will stabilise and strengthen mildly. Since FIIs are hugely short in the market, there will be short-covering triggering a rally. Bank Nifty has the potential to outperform.

But FIIs are likely to sell on rallies later since the AI trade is back with a bang in South Korea and Taiwan.

Watch out for stocks that will gain from crude decline like paints, tyres and adhesives. The capital goods leader with operations in West Asia stands to gain hugely from peace in the region, says VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

Stock market today: Nifty50 and BSE Sensex zoomed over 1% in opening trade on Friday as Brent crude slipped below $90. At 9:16 AM, Nifty50 was trading at 23,437.60, up 276 points or 1.19%. BSE Sensex was at 74,800.22, up 968 points or 1.31%.

"Indian equity markets are expected to open on a strong positive note, with Gift Nifty trading around 23,456, up by 255 points, indicating robust opening cues for domestic indices. Global sentiment remains supportive amid easing concerns over major geopolitical developments and improving risk appetite across international markets. Positive global cues, coupled with stability in key commodity prices, may help support bullish sentiment during the early part of the session.

Nifty ended on a mildly negative note on 11th June 2026, closing at 23,161.60, down 53.35 points or 0.23%, amid profit booking after a strong intraday recovery. The index opened with a sharp gap-down at 23,104.40 and touched an intraday low of 23,072.05 before recovering sharply to an intraday high of 23,327.45. Technically, the formation of an inverted hammer-like candlestick pattern indicates buying support at lower levels, though rejection near higher levels continues to persist. The RSI stood at 37.86, while India VIX remained stable at 15.61. Immediate support is placed around the 23,000–23,100 zone, while resistance is seen near the 23,600–23,650 range.

Bank Nifty ended on a marginally positive note on 11th June 2026, closing at 55,176.75, up 76.45 points or 0.14%, supported by strong buying interest from lower levels. The index opened with a sharp gap-down at 54,779.65 and touched an intraday low of 54,753.15 before staging a sharp recovery to an intraday high of 55,600.15. Technically, the formation of a bullish candlestick pattern reflects resilience in the banking space and continued buying support near key levels. The RSI stood at 55.24, indicating relatively stronger momentum compared to the broader market. Immediate support is placed around the 54,800–55,000 zone, while resistance is seen near the 56,200–56,500 range.

Foreign Institutional Investors (FIIs) remained net sellers for the 12th consecutive trading session on 11th June 2026, offloading equities worth ₹1,987 crore. However, the pace of selling has moderated over the last few sessions, indicating a gradual easing in foreign outflows. Meanwhile, Domestic Institutional Investors (DIIs) continued to provide strong support to the market, extending their buying streak to the 18th consecutive session with net equity purchases worth ₹4,224 crore, helping offset FII selling pressure and supporting overall market sentiment.

The near-term setup appears favourable as strong Gift Nifty indications and supportive global cues are likely to boost investor sentiment at the opening. Continued domestic institutional buying and resilience in key sectors may provide additional support to the market. However, traders should watch whether the indices can sustain gains above immediate resistance levels, as confirmation of strength at higher levels will be important for extending the ongoing recovery momentum,” says Hitesh Tailor, Research Analyst, Choice Equity Broking Private Limited.

Index formed a small bullish candle with a higher high and a lower low signaling consolidation amid stock specific action. The index continues to sustain above its 20-day EMA and the recent trendline breakout area, suggesting that the broader trend remains constructive.

Bank Nifty in the last two sessions witnessed profit booking from the neckline of the double bottom breakout area of 55,500-55,600. A decisive move above this level would confirm renewed buying momentum and open the path towards 56,500 levels in the coming weeks. Failure to do so will lead to some consolidation in the range of 53,800-55,600. On the downside, immediate support is positioned at 54,000–53,800 being the low of the current week and key retracement of the recent pullback.

Oil prices continued to decline on Friday, building on the previous session's losses after US President Donald Trump abandoned plans for military action against Iran, easing concerns about a further escalation in tensions following the recent exchange of attacks between the two countries.

Brent crude futures dropped $1.21, or 1.3%, to $89.17 a barrel by 0042 GMT. US West Texas Intermediate (WTI) crude fell $1.23, or 1.4%, to $86.48 a barrel. For the week, Brent was down 4.2%, while WTI registered a decline of 4.4%.

Trump, who had earlier warned that Iran could face a severe military response, said on Thursday that the proposed strikes had been called off as negotiations with Tehran had made progress. However, Iran's semi-official Fars news agency reported that authorities in Tehran had not approved the text of any agreement.

IG market analyst Tony Sycamore said the market reaction had been rapid and significant, although it remained uncertain whether the latest developments would lead to a lasting breakthrough or prove to be another short-lived period of optimism.

Earlier this week, Iran announced the closure of the Strait of Hormuz and warned that vessels attempting to transit the waterway could come under attack. The prolonged disruption in the strait, which typically handles around one-fifth of global oil and liquefied natural gas shipments, has been a major factor supporting elevated crude prices in recent months.

Investors are also closely watching the highly anticipated stock market debut of Elon Musk's SpaceX. The aerospace company has already set a new record with the largest initial public offering ever completed. The listing raised an unprecedented $75 billion, valuing the rocket and spacecraft maker at $1.77 trillion and making Musk the first person in the world to achieve a net worth exceeding $1 trillion.

“Indian equities are expected to remain volatile in the near term, with sentiment likely to be weighed down by escalating geopolitical tensions in West Asia. The United States has launched fresh strikes against multiple targets in Iran. Markets are closely watching for signs of resolution, which remains the key monitorable in the near term. Brent crude is trading 1% lower at $92/bbl — a stabilization that offers some relief — though sustained de-escalation will be needed before confidence meaningfully recovers.

Nifty declined 0.1%, while Midcap 100 and Smallcap 100 fell 0.7% and 0.5% respectively. The Indian rupee also came under pressure, weakening 0.5% against the US dollar to close at 95.76, compared with 95.27 in the previous session. Almost all sectors ended in the red, with banking and pharma the lone exceptions — Nifty Pharma gained over 0.5% as investors rotated into defensives. Nifty IT dropped around 1.5%, extending its losing streak to seven sessions, while defence stocks were the session's top laggard, falling 2.1%. On the domestic policy front, the government launched E85 fuel — an 85% ethanol blend priced ~₹20/litre cheaper than petrol — initially at 48–50 outlets, with plans to scale to 5,000 by end-2027.

Additionally, the Ministry of Finance exempted higher ethanol-blended petrol variants from central excise duty — the first major tax incentive for blends above E20, aimed at making higher-ethanol fuel more viable for refiners and OMCs. Together, these measures reinforce India's push to reduce crude import dependence, with sugar and ethanol producers and flex-fuel vehicle manufacturers standing as the most direct beneficiaries,” says Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.

Index in the daily chart formed an inverted hammer like candle with a small real body and a long upper shadow. Highlighting, pullback after a gap down opening, but index failed to sustain at higher levels and gave up most of its intraday pullback to close the session near the open of the session. Nifty on expected lines continues to consolidate in the broad range of 23,000-23,550. We expect the current consolidation to extend until a directional breakout emerges.

In the last 2 weeks Nifty has rebounded on multiple occasion from the key support area of 23,000-23,200 being the confluence of the 61.8% retracement of the previous pullback (22,182-24,601) and lower band of the falling channel. Within the consolidation index has immediate hurdle at Thursday low of 23,327, a move above that will open upside towards key resistance of 23,500-23,550 levels being the 61.8% retracement of the previous decline (24089-23070) and the 20 days EMA.