Summary of this article
Sensex and Nifty rose as progress in US-Iran talks lifted investor sentiment
Asian markets gained and crude oil prices fell on easing geopolitical concerns
Rupee weakened against the dollar despite steady domestic inflows
US-Iran Peace Talks: Benchmark indices opened higher on June 22 after the first round of talks between senior US and Iranian officials in Switzerland ended with signs of progress.
As of 9:35 AM, the BSE Sensex surged as much as 446.37 points, or 0.58 per cent, to an intraday high of 77,249.27 so far. Likewise, the Nifty 50 climbed up to 129.40 points, or 0.54 per cent, to 24,142.50.
Broader markets were also higher, as the Nifty Midcap 100 and the Nifty Smallcap 100 were up by 0.15 per cent and 0.40 per cent, respectively.
Within Nifty 50, Max Healthcare, Adani Enterprises, Adani Ports, InterGlobe Aviation, Titan, Power Grid, and UltraTech Cement were the top losers, while Cipla, Reliance Industries, Tech Mahindra, Tata Motors Passenger Vehicle, Infosys, HCL Technologies, Bajaj Auto and HDFC Life Insurance were among the gainers.
Among sectors, Nifty IT and Nifty Oil & Gas led gains, rising more than 1 per cent each. On the other hand, Nifty Consumer Durables, Nifty PSU Bank and Nifty FMCG, were trading flat-to-negative. All other major indices were in green.
US-Iran Peace Talks In Switzerland
According to a Reuters report this morning, the talks began on a tense note after Iran said it had once again closed the Strait of Hormuz, while US President Donald Trump repeated his warning that Washington could resume attacks on Iran if tensions escalated further.
However, mediating countries Qatar and Pakistan later said both sides had agreed on a roadmap aimed at reaching a final agreement within 60 days. The joint statement, released by Qatar's foreign ministry, said technical-level discussions would continue through the week at the Swiss resort town of Buergenstock.
The two sides also agreed on a mechanism to help contain the conflict in Lebanon and set up a communication channel to ensure the safe movement of commercial vessels through the Strait of Hormuz.
Ahead of the talks, Fox News had reported that Trump warned Iranian officials that they "won't have a country" if they attempted to shut the waterway again. The report also said Trump repeated his earlier remarks that the US could take control of the strait and potentially impose a toll on ships passing through it.
Asian Indices Trade Largely Higher
Asian markets traded mostly higher after the development in early deals on June 22, with Japan leading the gains. Japan's Nikkei rose nearly 2 per cent, extending its rally after gaining more than 13 per cent over the previous two weeks.
South Korea's Kospi climbed around 1.84 per cent in early trade but later gave up its gains to slip into the red. MSCI's broadest index of Asia-Pacific shares outside Japan also rose nearly 1 per cent initially before turning lower and trading down 0.13 per cent.
Among other markets, China's CSI 300 gained 1.57 per cent, while Taiwan's Taiex jumped 2.84 per cent. Hong Kong's Hang Seng, however, bucked the trend and traded nearly 0.58 per cent lower.
Crude Oil Prices Soften Further
The progress in US-Iran peace talks also eased concerns around crude oil supply disruption, and softened oil prices. International benchmark Brent crude oil futures was down 1.75 per cent to $78.65 a barrel, while the US West Texas Intermediate (WTI) futures was down by 0.73 per cent at $75.30 per barrel.
Since its record high of $126.41, hit on April 30, 2026, Brent crude oil has eased nearly 38 per cent, while WTI has come down 36 per cent from its record high of $117.63, hit on April 7, 2026.
According to a PTI report, the domestic currency remained volatile as steady inflows into debt and deposits supported the rupee, while concerns over the West Asia conflict and the strength of the dollar weighed on it.
