Closing Bell: Sensex Surges 394 Points | Bank Nifty Jumps 1,130 Points as RBI Forex Measures and Falling Crude Fuel Recovery

9 Jun 2026 , 05:28 PM

The Indian benchmark indices staged a strong recovery on June 9, 2026, with Nifty climbing to 23,242 and Sensex gaining 394 points to close at 73,918, bouncing back sharply from the previous session’s selloff. A decline in Brent crude below $94 per barrel, the RBI’s announcement of concessional FCNR(B) deposit and ECB swap facilities to attract foreign currency inflows, and positive global market cues drove broad-based buying across Dalal Street. Nifty Bank was the star of the session, surging 1,130 points as PSU Banks, Private Banks, and Financial Services stocks led the charge, while IT sector ended in red.

Market Overview: Nifty, Sensex, and Bank Nifty Performance

• Nifty 50 closed at 23,242.10 up 119.10 points (0.52%)
• Sensex ended at 73,918.76, up 394.50 points (0.54%)
• Nifty Bank settled at 55,194.50, up 1,130.75 points (2.09%)

Top Gainers

1. Jio Financial Services Limited– closing at 234.20 up by 2.33%

2. State Bank of India – closing at 1,004.10 up by 2.26%

3. Axis Bank Limited – closing at 1,294.40 up by 2.07%

4. ICICI Bank Limited – closing at 1,276.00 up by 2.06%

Top Losers

1. Titan Company Limited – closing at 4,100.00 down by 2.20%

2. Oil & Natural Gas Corporation Limited – closing at 259.55 down by 1.93%

3. NTPC Limited – closing at 355.95 down by 1.78%

4. Power Grid Corporation of India Limited – closing at 285.50 down by 1.65%

Trending stocks

1. Inter Globe Aviation Limited –

• Closed at ₹4,531.70, up 3.95%

• Positive Brokerage Commentary on IndiGo: Several brokerages reaffirmed their bullish outlook on IndiGo after management highlighted strong long-term growth opportunities, rising air travel demand, and continued market leadership, boosting investor confidence across the aviation sector.
• ₹10,000 Crore ATF Price Stabilisation Fund Approved: The Union Cabinet approved a ₹10,000 crore Aviation Turbine Fuel (ATF) Price Stabilisation Fund, aimed at reducing fuel price volatility and improving earnings visibility for airlines.
• Uniform ATF Pricing Provides Cost Certainty: The government introduced a uniform ATF price of ₹115 per litre for both domestic and international carriers, helping airlines better manage costs and reduce the impact of sudden fuel price fluctuations.
• Improved Profitability Outlook for Airlines: Stable fuel costs are expected to support operating margins, strengthen cash flow planning, improve earnings forecasts, and reduce the need for frequent ticket price adjustments, making airline stocks more attractive.
• Broader Aviation Ecosystem Benefited: Positive sentiment extended beyond airlines to aviation-related companies such as Taal Tech, FlySBS Aviation, and Global Vectra Helicorp, as investors anticipated stronger sector-wide growth and increased aviation activity.

Also read why airlines stocks were trading high today

Sectoral Performance Index

Indices	Change
Nifty PSU Bank	3.62%
Nifty India Defence	1.71%
Nifty Private Bank	1.64%
Nifty Realty	1.63%
Nifty Chemical	1.49%
Nifty Financial Service Ex-Bank	1.40%
Nifty Auto	1.34%
Nifty IT	-0.48%

 

Sectoral Performance & Key Reasons

PSU Banks (+3.62%) emerged as the top-performing sector after the RBI announced operational guidelines for its concessional FCNR(B) deposit and ECB swap facilities, which are expected to improve foreign currency liquidity and support overseas fundraising.

Private Banks (+1.64%) and Financial Services Ex-Bank (+1.40%) also witnessed strong buying as investors welcomed the RBI’s measures and viewed banking valuations as attractive after recent FII-led selling.

Defence (+1.71%) gained on continued optimism around strong order books, government spending visibility, and long-term growth prospects.

Realty (+1.63%) advanced as improving market sentiment and easing crude oil prices reduced concerns around inflation and borrowing costs.

Chemicals (+1.49%) and Auto (+1.34%) benefited from the decline in crude oil prices, which is positive for input costs, operating margins, and overall profitability.

However, IT (-0.48%) remained under slight pressure despite improved global technology sentiment and positive developments surrounding H-1B visa fees, as investors continued selective profit booking following the sector’s recent volatility and persistent concerns over FII selling.

Main Reasons for Stock Market Up Today

1. Falling Crude Oil Prices Improved Market Sentiment

Brent crude declined below $94 per barrel, providing relief to the Indian market. Lower crude prices help reduce inflationary pressures, improve corporate margins, ease concerns over India’s import bill, and support overall economic stability, encouraging buying across sectors.

2. Strong Rally in Banking Stocks After RBI Forex Swap Measures

Banking stocks emerged as the biggest contributors to the market rally after the RBI announced operational guidelines for its concessional FCNR(B) deposit and ECB swap facilities. The measures are aimed at attracting overseas funds, improving foreign currency liquidity, and supporting banks’ fundraising efforts. As a result, Bank Nifty surged more than 2%, with all banking stocks trading in the green.

3. Positive Global Market Cues Boosted Risk Appetite

Indian markets tracked gains in global equities as technology stocks rebounded in the US, South Korea, and Taiwan. The recovery in Nasdaq and global AI-related stocks improved investor confidence and helped drive buying across domestic markets after Monday’s sharp selloff.

4. Progress in India-US Trade Deal Supported Investor Confidence

Market sentiment improved after reports indicated that the first phase of the India-US trade agreement is nearly finalized, with officials suggesting that around 99% of the agreement has been completed. Expectations of stronger trade relations and economic cooperation boosted optimism toward Indian equities.

5. Positive Developments for Indian IT Sector

A US federal court struck down former President Donald Trump’s proposed H-1B visa fee hike, which is positive for Indian IT companies such as TCS, Infosys, and Wipro. The decision reduces potential costs for Indian technology firms operating in the US and supported buying interest in the IT sector alongside the global technology rebound.

 

Summary-

June 9, 2026, marked a strong rebound for the Indian stock market as easing crude oil prices, supportive RBI measures, and positive global cues helped restore investor confidence after the previous session’s sharp selloff:

• Banking and Financial stocks led the rally, with PSU Banks, Private Banks, and Financial Services witnessing strong buying after the RBI introduced concessional FCNR(B) deposit and ECB swap facilities aimed at improving foreign currency liquidity and attracting overseas funds.

• Defence, Realty, Chemicals, and Auto sectors also advanced as falling crude oil prices reduced inflation concerns, improved margin outlooks, and strengthened expectations for economic activity and domestic demand.

• IT stocks remained the only major laggard despite positive global technology sentiment and relief from the US court’s decision on H-1B visa fees, as investors continued selective profit booking following recent volatility in the sector.

With Nifty rising 119.10 points (+0.52%) to 23,242.10, Sensex gaining 394.50 points (+0.54%) to 73,918.76, and Bank Nifty surging 1,130.75 points (+2.09%) to 55,194.50, market sentiment improved due to Brent crude falling below $94 per barrel, strong gains in banking stocks following RBI forex swap measures, a rebound in global markets led by technology stocks, progress toward the India-US trade agreement, and positive developments for Indian IT companies after a US court struck down the proposed H-1B visa fee hike.

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