Indian Stock Market Continues Upward Trend with Nifty Surpassing 24,160

The Indian stock market has shown remarkable resilience, continuing its winning streak for the fifth day with Nifty surpassing 24,160. The Sensex also posted gains, while the rupee appreciated against the US dollar. Analysts are closely monitoring developments in US-Iran negotiations and crude oil prices, which could influence market dynamics. With banking stocks performing well, investors remain optimistic despite potential inflationary pressures. Read on for a detailed analysis of market trends and forecasts.

By Narendra Chaudhary Jun 18, 2026, 16:07 IST

Market Performance Overview

The Indian stock market has maintained its upward momentum for the fifth consecutive day, with the Nifty index surpassing the 24,160 mark on Thursday. At the end of trading, the Sensex closed at 77,409.98, reflecting an increase of 254.36 points or 0.33%. Meanwhile, the Nifty finished at 24,168.00, up by 82.30 points or 0.34%. Notably, all sectoral indices closed in positive territory, with the exception of IT and Energy sectors. Media, Pharma, PSU Bank, Private Bank, and Realty sectors each saw gains of 0.5%.

The Indian rupee also continued its upward trend, appreciating by 20 paise to settle at 94.33 against the US dollar, compared to the previous close of 94.53. Jateen Trivedi, Vice President of Research at LKP Securities, noted that the rupee traded stronger, gaining around 16 paise to 94.32, marking its fifth consecutive day of gains. This recovery from the 95.75 level to 94.32 has been largely supported by declining crude oil prices and improved sentiment regarding ongoing negotiations between the US and Iran.

Looking ahead, market participants are expected to keep a close watch on developments in the US-Iran discussions, fluctuations in crude oil prices, and foreign fund inflows. Technically, the rupee appears well-supported, with a near-term trading range anticipated between 94.00 and 94.75. A sustained drop below 94.00 could pave the way for further appreciation in the upcoming sessions.

Vinod Nair, Head of Research at Geojit Investments Limited, commented that domestic equities have traded within a range while maintaining a positive outlook. Initial optimism surrounding the US-Iran peace talks has been somewhat tempered by hawkish comments from the US Federal Reserve. Inflationary pressures driven by energy costs may lead central banks to consider interest rate hikes later this year, prompting a more cautious approach from investors.

However, the ongoing decline in crude oil prices and a moderation in Indian bond yields could alleviate inflation concerns in the latter half of FY27, as market participants await more clarity on the peace agreement. Banking stocks have outperformed, buoyed by expectations of robust credit growth and attractive valuations within the sector.