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Informist, Friday, Jun. 12, 2026

 

By Simran Rede

 

MUMBAI – Traders cheered and added long positions in the market after the clouds around finalisation of the US-Iran deal started to clear. The proposed deal would reopen the Strait of Hormuz and lift oil sanctions, Iranian state media said. This will further ease the elevated crude oil prices, analysts said. The buzz around the two countries striking a deal triggered the sudden upmove in the market, they said.

 

Traders aggressively bought deep out-of-the-money call options of Nifty 50 derivatives, suggesting an improved sentiment after the spike in the index. Pushed by index heavyweights such as HDFC Bank, Reliance Industries, and ICICI Bank, the 50-stock index surged 2% and the BSE Sensex closed 2.3% higher Friday. This led to an optimistic outlook for the next week after a week of range-bound activity, analysts said. 

 

The Nifty 50 started the day with a gap-up opening and further gained momentum in the final two hours of the trading session when the crude oil prices fell suddenly. At 1632 IST, the August futures of Brent crude oil futures were down 3.2% at $87.51 per barrel on the Intercontinental Exchange. The contract fell to an over three-month low Friday.

 

The Nifty 50 closed at 23622.90 points, up 461.30 points or 2%. Strong gains in banking and financial services stocks supported the rise. Only 11 stocks in the Nifty 50 index ended lower, with shares of Nestle India being the worst hit after the agency Asian News International reported that the Food Safety and Standards Authority of India had sent the company a notice over food quality issues. The stock closed over 3% lower.

 

After over two weeks of consolidation, the Nifty 50 closed successfully past the 23500-resistance level. "The momentum indicator RSI has rebounded from lower levels and moved above the 50 mark, signalling improving strength in the underlying trend," Nilesh Jain, vice president-head of technical and derivative research at Centrum Finverse, said in a note. The volatility index of India or India VIX closed 5.7% lower at 14.7175. "...any further easing in volatility could provide additional support to the bullish outlook," Jain said.

 

Despite all these positive developments, Pravin Bokade, head of research at IDBI Capital, expects some tensions around supply chain constrains to continue over the medium term. He expects the Nifty 50 to be in a range in the medium term, unless crude oil prices settle around $75-$80 per barrel. 

 

The 24000-strike price had the highest open interest net change among call options of the Nifty 50 expiring next week. This contract also had both the maximum open interest and highest change in open interest, indicating a likely strong resistance at this level, which is 1.6% higher than the current level. Premium on the 24000-strike surged 751% to INR 34.45. 

 

On other hand, premiums on the Nifty 50's deep-out-of-the-money weekly put options fell 48-87%, with the most active put contracts being the 22500 and 23000 strike prices, suggesting support levels. These two levels are almost 3-5% lower than the Nifty 50's closing level on Friday. The June futures contract of the Nifty 50 closed at 23714.80 points, at a premium of 91.90 points to the spot index. Open interest in this contract fell marginally to 18.77 million, as per provisional data.

 

--Nifty 50 June closed at 23714.80, up 514.80 points; 91.90-point premium to the spot index

--Nifty 50 July closed at 23798.00, up 502.20 points; 175.10-point premium to the spot index

--Nifty 50 August closed at 23900.00, up 502.60 points; 277.10-point premium to the spot index

 

HDFC Bank, Reliance Industries, ICICI Bank, Larsen & Toubro, Ashok Leyland, InterGlobe Aviation, BSE, State Bank of India, Vodafone Idea, Shriram Finance, Bajaj Finance, Axis Bank, Multi Commodity Exchange of India, and Bharti Airtel were the most actively traded underlying stocks Friday.  End

 

US$1 = INR 95.1100

 

Edited by Akul Nishant Akhoury

 

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