Sensex and Nifty News: Indices End with Marginal Gains Amid Middle East Tensions

Market Performance

The Indian stock market experienced a rollercoaster session on Tuesday, June 24, amid escalating geopolitical tensions in the Middle East.

• Sensex opened at 82,534.61, rising over 1,100 points to an intraday high of 83,018, but erased most gains by the close.
• The session ended at 82,055.11, up 158 points or 0.19%.
• Nifty 50 started at 25,179.90 and hit an intraday peak of 25,317.70 before closing at 25,044.35, gaining 72 points or 0.29%.

Despite volatility, broader indices outperformed:

• BSE Midcap Index rose by 0.56%
• BSE Smallcap Index increased 0.71%
• Nifty Midcap 100 and Nifty Smallcap 100 also closed 0.7% higher.

Main News: Middle East Conflict Weighs on Sentiment

The intraday volatility came in response to reports that Israel accused Iran of violating a ceasefire agreement, prompting retaliatory military action.

According to international sources, the Israeli Defence Minister directed forces to conduct high-intensity operations targeting strategic Iranian assets following missile launches by Iran.

This news unsettled investor sentiment, leading to sharp profit-booking across sectors. Both Sensex and Nifty fell over 1,000 points from their highs in the afternoon session.

Earlier, hopes for market stability emerged after a ceasefire announcement made by the US President. However, renewed strikes and denials from Iran regarding the violations reversed positive momentum.

Company and Sector Highlights

Several sectors and company-specific indices saw contrasting trends throughout the day:

• Nifty PSU Bank Index surged over 2%, driven by strong investor interest in public sector banks.
• Auto, Metal, and PSU stocks traded in the green, gaining more than 0.5%.
• Defense sector stocks saw a sharp decline as investors booked profits following two days of gains.

Broader Market Snapshot:

• Advancing stocks: 2,570
• Declining stocks: 1,289
• Unchanged stocks: 129

Crude oil prices also influenced sentiment. Brent crude slipped nearly 4%, providing a temporary boost to the Indian markets, as reduced oil prices can ease inflationary and fiscal pressures.

Geopolitical Impact on Indian Markets

The Israel-Iran conflict emerged as the key driver of market volatility. The sequence of:

1. Ceasefire declarations,
2. Missile launches, and
3. Military retaliation,

Created a seesaw effect across global and domestic equities.

This situation re-emphasized how geopolitical risks—especially those impacting global energy supply chains—can significantly influence market mood and capital flows.

Summary

To summarize the Sensex and Nifty news on June 24:

• Sensex closed 158 points higher at 82,055.11
• Nifty 50 gained 72 points, settling at 25,044.35
• Midcap and smallcap indices outperformed the benchmarks
• PSU banks rallied while defense stocks slipped
• Market volatility was primarily driven by the Israel-Iran conflict
• Brent crude tumbled nearly 4%, supporting domestic equities temporarily

Despite early optimism, renewed geopolitical tension capped the market's upside. The day's performance highlighted how quickly investor sentiment can shift in response to global developments.