Stock Market Updates: Sensex Tanks 500 Points, Nifty Below 25,000; All Sectors In Red
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Indian benchmark indices Sensex and Nifty opened on a cautious note on Monday
Sensex Today: Stock markets opened on a weak note Monday as investors reacted to the United States' strikes on three Iranian nuclear facilities, escalating the conflict in West Asia by siding with Israel.
The BSE Sensex dropped 503 points or 0.61% to 81,905, while the Nifty50 slipped 139 points or 0.55% to 24,977 in early trade.
Broader markets also felt the pressure, with the Nifty MidCap and Nifty SmallCap indices falling 0.4% and 0.24%, respectively.
The market downturn follows U.S. airstrikes on Iran's Fordow, Natanz, and Isfahan nuclear sites on Sunday. In response, Iran has vowed retaliation and warned the U.S. of 'dire consequences." Reports also indicate that Iran's Parliament has approved closing the strategic Strait of Hormuz.
Anand James, Chief Market Strategist at Geojit Financial Services, noted, 'Despite Friday's sharp rise, the pullback from the day's high in the final hour reflects a sense of hesitation—something we've seen repeatedly as the Nifty approaches the 25,000 mark. Upside now appears capped within the 25,200–25,460 range. With the index near the upper Bollinger Band and ADX reading at 13.2, momentum remains weak."
He added, 'A failure to sustain above 25,045 could lead to a dip, though immediate downside is likely limited to 24,865/24,827. We will consider turning bearish only if the index slips below the 24,500–24,440 zone."
Global Cues
Asia-Pacific markets tumbled on Monday following the US airstrikes on three Iranian nuclear sites, which raised the spectre of a wider conflict in the Middle East and drove oil prices higher.
Gold also surged amid the uncertainty, jumping 2.95% to $3,379.60 per ounce as investors flocked to safe-haven assets.
In equities, Japan's Nikkei dropped 0.74%, while the broader Topix fell 0.64%. South Korea's Kospi lost 1.22%, and Australia's ASX 200 declined 0.76%.
US stock futures retreated during early Asian trading hours. Dow Jones futures were down 0.3%, while S&P 500 and Nasdaq 100 futures slipped 0.3% and 0.4%, respectively.
On Wall Street last Friday, two of the three major indices closed in the red. The S&P 500 shed 0.22%, marking its third consecutive loss, and the Nasdaq Composite dropped 0.51%. The Dow Jones Industrial Average, however, inched up by 0.08%.
First Published:
June 23, 2025, 09:11 IST
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