Benchmark indices close higher with Nifty PSU Bank among the top gainers!

Indian benchmark indices opened higher on Tuesday following the U.S. President’s announcement of a ceasefire between Israel and Iran, which eased oil price pressures.

Market Update at 4:15 PM- Indian benchmark indices opened higher on Tuesday following the U.S. President’s announcement of a ceasefire between Israel and Iran, which eased oil price pressures. Markets rallied in early trade, extending gains after a strong gap-up opening. However, renewed concerns over Middle East tensions sparked volatility in the second half, leading indices to pare most gains by the close.

Despite the pullback, the Nifty 50 closed above the 25,000 mark, rising 72.45 points (0.29 per cent) to end at 25,044.35. The Sensex gained 158.32 points (0.19 per cent), settling at 82,055.11.

Sector-wise, Nifty PSU Bank, Metal, and Financial Services led the gains, while Nifty Media was the sole sectoral loser, down 1.04 per cent, dragged by Zee Entertainment. The PSU Bank index jumped 1.41 per cent, with Union Bank of India rising over 2.7 per cent.

Top contributors to the Nifty 50's gains on June 24 were Kotak Mahindra Bank, which added 16.26 points to the index, followed by HDFC Bank and ICICI Bank, contributing 15.37 points and 7.8 points, respectively. On the flip side, the index was dragged down by ONGC, which lost 8.16 points, along with Reliance Industries and Power Grid Corporation, which declined by 5.8 points and 4.12 points, respectively.

Broader markets outperformed, with Nifty Midcap up 0.71 per cent and Nifty Smallcap rising 0.72 per cent.

Out of 2,955 NSE-listed stocks, 1,814 advanced, 691 declined, and 450 remained unchanged. 44 stocks hit 52-week highs, while 31 touched 52-week lows. 111 stocks hit upper circuits, and 53 hit lower circuits.

Brent crude dropped nearly 5 per cent to USD 68 per barrel after the Israel-Iran ceasefire, retreating below levels seen before June 13 missile strikes. Earlier fears of Iran disrupting the Strait of Hormuz had driven prices higher.

Market Update at 12:40 PM: In the current trading session benchmark indices are trading positively with Sensex trading higher by 0.8 per cent while Nifty also gained by 0.7 per cent. Similarly, in the broader indices Nifty Midcap has gained by 0.94 per cent, while Nifty Smallcap has soared by 0.93 per cent.

India VIX has declined by 0.66 per cent and is trading below the mark of 14 indicating a decrease in market volatility.

European Markets are expected to start positively on Tuesday after oil prices fall significantly following Iran-Israel ceasefire announced by Donald Trump, which eases inflation and rate hike worries. European futures DAX, CAC and FTSE are trading up by 1.99 per cent, 1.59 per cent and 0.58 per cent respectively.

Within the sectoral landscape Nifty PSU Bank, Nifty Metal and Nifty Auto are among the Top Gainers while Nifty Media is the only sector which are underperforming.

Jio Financial Services, Adani Ports and Ultratech Cement are among the top gainers within the Nifty 50 while, ONGC, NTPC and Power Grid Corporation are among the Top Losers.

About 2089 stocks are advancing as against to 452 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 10:10 AM- Indian equities opened on a positive note, with the Nifty 50 up by 0.98 per cent and the Sensex gaining by 0.97 per cent. In the broader market, the Nifty Midcap surged by 0.89 per cent while the Nifty Smallcap was up by 0.88 per cent.

India VIX, the market's volatility gauge, declined 1.58 per cent, declining below the 14 mark—signaling decreased nervousness among traders.

Almost all the sectors were trading positively with Nifty PSU Bank, Nifty Realty and Nifty Auto among the top gainers while Nifty Media was the only sector trading negatively.

Within the Nifty 50, Adani Ports Ltd, Jio Financial Services and Shriram Finance Ltd were the among the top gainers, while NTPC, ONGC and BEL were among the top losers.

Market breadth remained strong, with 2099 advancing stocks and 363 declining on the NSE, reflecting a broadly bullish sentiment.

Market Update at 8:30 AM- Indian markets are set to open higher on Tuesday, June 24, after U.S. President Donald Trump announced a ceasefire agreement between Iran and Israel. The news has improved global risk sentiment and triggered a rally across Asian markets.

As of 8:30 AM, the GIFT Nifty was trading at 25,255, up 205 points, indicating a gap-up start with the Nifty reclaiming the 25,000 mark.

On Monday, markets declined sharply as geopolitical tensions escalated. The Nifty 50 fell 0.56 per cent to close at 24,971.90, while the Sensex dropped 0.62 per cent to 81,896.79, weighed down by U.S. strikes on Iranian nuclear sites and rising crude oil prices.

However, sentiment reversed after Trump’s announcement that the ceasefire would be phased in over 24 hours, potentially ending hostilities. While Iran and Israel have not officially responded, the development has calmed fears of further escalation.

Foreign Institutional Investors (FIIs) turned net sellers on Monday, offloading equities worth Rs 1,874.38 crore. On the other hand, Domestic Institutional Investors (DIIs) stepped in as strong buyers, investing Rs 5,591.77 crore during the same session.

Asian markets opened in the green on Tuesday, reacting positively to the ceasefire announcement between Iran and Israel.

Crude oil prices tumbled sharply. Brent crude fell 3.76 per cent to USD 68.79 per barrel, while West Texas Intermediate (WTI) dropped 3.94 per cent to USD 65.46, as concerns over supply disruptions eased.

Gold prices also softened, declining 0.6 per cent to USD 3,348 in early trade, reflecting reduced safe-haven demand.

The U.S. dollar weakened, with the Dollar Index slipping to 98.19, as improving sentiment fueled a risk-on rally across global markets.