Bank Nifty Surges 1,600+ Points as Global Optimism, Oil Drop and Iran–US Deal Hopes Fuel Market Rally
Brief By Newsbrief / 12:16 PM on 13 Jun 2026
The Indian stock market witnessed a powerful rally, with Bank Nifty leading the surge by climbing 1,638 points or 2.97%, closing above the 56,800 mark. The broad-based buying ensured that all major indices ended in the green, reflecting strong investor confidence and global support.
Heavyweight stocks across the BSE Sensex performed strongly, with the exception of Power Grid and Tech Mahindra. Among the top gainers, Bajaj Finance led the pack with a sharp rise of 5.62%. Other major stocks such as Larsen & Toubro (L&T), Indigo, Titan, and Eternal also recorded gains of up to 5%, contributing significantly to the overall market rally. Mid-cap and small-cap indices also witnessed strong upward momentum, allowing both retail and institutional investors to book substantial profits.
The rally was further supported by global developments. Reports from Iranian state media agency Mehr suggested that a proposed memorandum between Iran and the United States includes lifting sanctions, ending naval blockades in the Strait of Hormuz, and withdrawal of US military forces from the region. US President Donald Trump stated that a peace-related agreement with Iran is close to being finalized and may be signed within a week. These developments boosted global sentiment, triggering a strong rally in US markets, which in turn influenced Asian and Indian markets positively.
Another key factor supporting the rally was the sharp fall in crude oil prices. Brent crude dropped by nearly 5% to around $86.4 per barrel, close to a two-month low. The decline benefited oil-dependent sectors and improved inflation outlooks. Asian markets also surged, with South Korea’s Kospi rising over 8%, Japan’s Nikkei 225 gaining more than 3%, and positive momentum seen in China’s Shanghai Composite and Hong Kong’s Hang Seng index.
Additionally, the Indian rupee strengthened by 65 paise to 95.20 against the US dollar, supported by weak dollar trends and positive domestic equities. Overall, a combination of global optimism, falling crude prices, and strong foreign cues led to a broad-based market rally and a significant jump in investor wealth.