Nifty Surges Past 23,600 on US-Iran Peace Deal Hopes
Infographic: Nifty Snaps Losing Streak, Closes Above 23,600 on US-Iran Peace Deal Optimism
Key Highlights
India’s Nifty index breaks a two-day losing streak, closing above 23,600. Optimism surrounding a potential US-Iran peace deal fuels market gains, supported by cooling oil prices and a stronger rupee.
Nifty Rebounds on Geopolitical Optimism
India’s equity benchmark, the Nifty, snapped a two-day losing streak on Friday, closing higher with gains of around two percent. This surge was primarily driven by optimism over a potential US-Iran peace deal, as US President Donald Trump indicated the deal was nearing completion, and Iran confirmed significant progress in negotiations.
The market also benefited from cooling crude oil prices and an appreciating Indian rupee against the US dollar. The Nifty extended its gains, settling above the 23,600 mark.
Market Snapshot & Futures Performance
- The 50-share Nifty climbed 461.30 points (1.99%) to settle at 23,622.90.
- India Volatility Index (VIX) decreased by 5.73%, reaching 14.72.
- Nifty June 2026 futures closed at 23,714.80, a premium of 91.90 points over the spot closing.
- Nifty July 2026 futures ended at 23,798.00, a premium of 175.10 points over the spot closing.
- Nifty June futures saw a contraction of 121 units in open interest, totaling 288,774 contracts.
Top Stocks & Interest Dynamics
Most sectoral indices closed in the green, with the exception of IT stocks. Key movements in the F&O segment included:
- Ashok Leyland, Inox Wind, and Shriram Finance were the top gainers.
- Nestle India, Oil India, and Oil & Natural Gas Corporation were among the top losers.
- HDFC Bank June 2026 futures traded at a discount of 10.55 points (761.40 LTP vs. 771.95 spot), with 64,751 contracts traded.
- Reliance Industries June 2026 futures traded at a premium of 6.50 points (1302.90 LTP vs. 1296.40 spot), with 35,710 contracts traded.
- Larsen & Toubro June 2026 futures traded at a premium of 18.50 points (4068.50 LTP vs. 4050.00 spot), with 23,563 contracts traded.
- ICICI Bank June 2026 futures traded at a premium of 4.50 points (1344.50 LTP vs. 1340.00 spot), with 23,244 contracts traded.
- InterGlobe Aviation June 2026 futures traded at a premium of 14.00 points (4719.00 LTP vs. 4705.00 spot), with 18,896 contracts traded.
Futures & Options Outlook
In the index option segment, maximum Open Interest (OI) continues to be seen in the 24000-25100 calls and 22900-23100 puts, indicating the expected trading range.
- Most active Nifty calls: 24000 SP (June month expiry) saw a contraction of 4,622 units in OI.
- Most active Nifty puts: 23000 SP (June month expiry) saw an addition of 13,581 units in OI.
- Maximum OI outstanding for Calls was at 25000 SP (130,221 units) and for Puts at 23000 SP (93,738 units).
- Nifty’s respective Support and Resistance levels are: Resistance 23740.87 — Pivot Point 23527.38 — Support 23409.42.
- The Nifty Put Call Ratio (PCR) for the June month contract stood at 1.10.
- Top five scrips with highest PCR: Bosch (1.33), Polycab India (1.10), Laurus Labs (1.07), IDFC First Bank (1.07), and Petronet LNG (1.05).
Underlying Open Interest Changes
- HDFC Bank: addition of 1,222 units in June month future OI.
- Reliance Industries: addition of 5,660 units in June month future OI.
- ICICI Bank: addition of 7,758 units in June month future OI.
- Larsen & Toubro: addition of 521 units in June month future OI.
- Ashok Leyland: contraction of 1,658 units in June month future OI.