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Informist, Wednesday, Jun. 17, 2026

 

By Arya S. Biju

 

MUMBAI – Benchmark indices are expected to move in a range Thursday with positive bias continuing ahead of the signing of the peace agreement between the US and Iran Friday. However, concerns around the durability of the deal rose after US President Donald Trump said the agreement is not final and the US will go back to dropping bombs on Iran if he doesn't like the way it works out. Additionally, the expiry of weekly contracts on the BSE Sensex is likely to add to market volatility, analysts said. 

       

 

The US will not invest in Iran and has not asked other countries to do so, but "it's fine" if Gulf countries decide to at some point, Trump said during his visit to France for the G7 summit. This comes after reports said that the US and its partners will fund $300 billion for the rehabilitation and economic development of Iran as part of the 14-point draft memorandum. Trump will speak more about the situation with Iran at a press conference later in the day, Al Jazeera reported.  

 

Market participants will also keenly watch the outcome of the US Federal Reserve's policy meeting later Wednesday. This is the first meeting of the Federal Open Market Committee under the new Chair Kevin Warsh. The central bank is widely expected to keep interest rates unchanged. Investors will closely monitor Warsh's comments for cues on the future rate trajectory and any shift in policy stance, analysts said.

 

Crude oil prices have corrected sharply after the US and Iran reached an agreement to sign a peace deal, improving risk sentiment and easing inflation concerns. Going forward, analysts expect oil prices to fall further if the US and Iran sign an interim deal to end the war Friday. "Expect Brent to drop another $5-$10 a barrel," Dow Jones Newswires quoted Neil Crosby, senior oil analyst at Sparta Commodities, as saying. 

 

Wednesday, the Nifty 50 settled at 24085.70, up 96.55 points or 0.4%, and the BSE Sensex closed at 77155.62, up 347.14 points or 0.5%. "For the Nifty, we've broken about 24000 (points) in today... There was this series of lower highs and lower lows that the Nifty was forming since the April peak and that has been broken. So, today, we've made a higher high... And that means that the decline from April that we were in, that has ended today. So, now, the next hurdle lies around 24250 (points)", Akshay Chinchalkar, managing partner and head of markets strategy at The Wealth Company, said. 

The Nifty 50 is seen finding immediate support at 24000 points, Rupak De, senior technical analyst at LKP Securities, said in a note. "A breach below this level (24000 points) could trigger a correction towards 23800 (points). Conversely, a decisive move above 24100 (points) may pave the way for a rally towards 24300 and higher," he added.  End

 

US$1 = INR 94.5250

 

Edited by Saji George Titus

 

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