MARKET PULSE
Sensex, Nifty rally on crude fall, Iran de-escalation
Indian equities saw their biggest rally in over two months as US‑Iran de‑escalation and a sharp fall in crude prices lifted risk appetite. Financials and metals led gains, while lower oil and a stronger rupee aided OMCs, airlines and rate‑sensitive sectors, even as some brokerages trimmed medium‑term Nifty targets on lingering geopolitical risks.
Updated 13 Jun 2026, 3:09 pm IST · next at 13 Jun 2026, 9:09 pm IST
Sentiment
Bullish relief
- · crude collapse
- · US‑Iran de‑escalation
- · strong financials
What matters now
- Sensex jumped about 1,700 points, Nifty moved above 23,600
- Crude slid below $90 on US‑Iran de‑escalation hopes
- Bank Nifty rallied as bond yields and oil prices eased
- Tyre, paint, airline and OMC stocks rose on input cost relief
- Brokerage cut 12‑month Nifty target despite risk-on rally
Stock categories in play
- Oil & gas◮ mixedOMCs gain on cheaper crude; upstream and gas realisations face pressureScreen lens: Energy producers and OMCs usually Shariah-compliant if leverage acceptable
- Banks & NBFCs▲ positiveBanking stocks, especially large private banks, led index and Bank Nifty rallyScreen lens: Conventional banks and NBFCs are interest-based, typically non-compliant
- Metals▲ positiveMetals outperformed, aiding Nifty and Sensex rebound alongside global risk-onScreen lens: Generally business-compliant; need leverage and cash screening
- Aviation▲ positiveAirline shares rallied as fuel costs fell with crude below $90Screen lens: Airlines usually Shariah-compliant subject to financial ratios
- Chemicals & paints▲ positivePaint and tyre makers gained on expectations of lower crude-linked input pricesScreen lens: Most are manufacturing; screen mainly on leverage and cash
Geopolitical lens
US‑Iran peace hopes
▲ positiveDe-escalation lowered crude and boosted global risk appetite, lifting Indian equities broadly
Oil price slide
▲ positiveCheaper crude improves India’s macro, supporting rupee, bonds and cost-sensitive sectors
Foreign capital reforms
▲ positiveRBI and Sebi debt and FPI reforms may support longer-term foreign inflows
For the halal portfolio
Stick to Shariah-compliant energy, manufacturing and IT names that gain from lower crude and calmer geopolitics, while ignoring rallies in interest-based lenders.