Last Updated on June 9, 2026 7:02 pm by BIZNAMA NEWS
By Our Business Correspondent
Indian equity benchmarks staged a robust turnaround on Tuesday, snapping a two-day losing streak. The market was buoyed by a softening in global crude prices, supportive international cues, and a sharp rally in banking heavyweights following liquidity-boosting measures from the central bank.
The S&P BSE Sensex climbed 394.50 points, or 0.54%, to settle at 73,918.76, while the broader Nifty 50 index reclaimed the crucial 23,200 threshold, finishing 119.10 points, or 0.52% higher at 23,242.10.
Macro Triggers: Cooling Oil and RBI Intervention
The primary catalyst for Tuesday’s rebound was a drop in commodity prices and proactive monetary adjustments:
- Crude Softens: Brent crude futures dipped 1.85% to $92.51 a barrel as geopolitical friction between Israel and Iran showed signs of temporary de-escalation, alleviating fears of imported inflation for India.
- RBI’s Forex Swap Operationalized: Sentiments in the banking sector received a massive shot in the arm after the Reserve Bank of India detailed operational guidelines for the dollar-rupee swap facilities announced during the June 5 monetary policy review.
- Volatility Cools: Highlighting the return of risk appetite, the NSE’s fear gauge, India VIX, plummeted 8.53% to sit comfortably at 15.58.
The RBI Swap Architecture: Under the new mandate, a US Dollar-Rupee swap window with a fixed premium of 1.5% per annum has been opened for eligible Public Sector Undertakings (PSUs) raising External Commercial Borrowings (ECBs). Concurrently, a separate swap window for fresh FCNR(B) deposits with maturities of 3 to 5 years has been deployed to spur foreign currency inflows and lower corporate hedging costs.
Market Breadth and Sectoral Performance
While the frontline indices posted steady gains, the broader markets completely stole the show, showcasing widespread accumulation.
| Index | Closing Level | Daily Change (%) |
| S&P BSE Sensex | 73,918.76 | +0.54% |
| Nifty 50 | 23,242.10 | +0.52% |
| BSE 150 MidCap | — | +1.24% |
| BSE 250 SmallCap | — | +1.39% |
Market breadth was overwhelmingly positive: 2,782 shares advanced on the BSE against 1,423 decliners, while 207 scrips remained unchanged. In the Nifty basket, banking majors provided the heaviest lifting, led by State Bank of India (up 2.11%), ICICI Bank (up 1.98%), and Axis Bank (up 1.92%).
Key Corporate Action & Stocks in Focus
- JNK India (+15.70%): The stock skyrocketed after securing a “large” order (quantified between Rs 100 crore and Rs 300 crore) from UAE-based CC7 Emirates Engineering Solutions for waste gas handling systems.
- Aye Finance (+8.68%): The NBFC gained strongly after its board greenlit a fundraising plan of up to $15 million via private placement of senior, secured non-convertible debentures (NCDs).
- Motilal Oswal Financial Services (+5.25%): Rallied to Rs 867.50 following a block deal wherein HDFC Life Insurance picked up 18.20 lakh shares (0.30% stake) at Rs 842.50 per share.
- Redington (+4.69%): Caught momentum tracking Apple’s AI and software updates announced at its global WWDC event, given Redington’s role as a primary hardware supply partner in India.
- Grasim Industries (+1.49%): Marched ahead on board approval for a Rs 3,094 crore capital expenditure plan to expand its Lyocell capacity at Harihar, Karnataka.
Primary Market: Hexagon Nutrition IPO Subscribed 52.9x
The initial public offering (IPO) of Hexagon Nutrition witnessed massive investor interest on its final day of bidding. The issue received total bids for 114.24 crore shares against the 2.16 crore shares on offer, resulting in a staggering 52.89 times subscription. The price band for the issue was pegged at Rs 42 to Rs 45 per share.
Global Markets & Intermarket Cues
Asia & Europe: Global markets traded constructively. Asian equities finished predominantly in the green, led by South Korea’s KOSPI as tech and semiconductor stocks rebounded. Chinese shares also ticked higher on the back of strong trade data, with May exports surging 19.4% YoY to a record $376.78 billion. European bourses opened higher ahead of the upcoming ECB policy meeting.
Fixed Income & Forex:
- The domestic 10-year benchmark federal paper yield eased to 6.906% from its previous close of 6.949%.
- The partially convertible Indian Rupee closed marginally stronger at 95.4100 against the US Dollar compared to its previous close of 95.6100.
- The global US Dollar Index (DXY) cooled by 0.27% to hover around the 99.75 mark.
Disclaimer: Market data and corporate developments are based on exchange filings and publicly available information. Investors should exercise due diligence before making investment decisions.