Sensex ends 138 points lower, Nifty below 24,900; Titan down 2%

Benchmark stock market indices closed lower on Wedneday, despite trading in green for almost the whole day as tensions between Israel-Iran weighed on Dalal Street.The S&P BSE Sensex was down by 138.64 points to close at 81,444.66, while the NSE Nifty50 lost 41.35 points to end at 24,812.05.Vinod Nair, Head of Research, Geojit Investments Limited, said that the domestic market failed to maintain the opening gains as the continuing tensions in the Middle East & volatility in oil prices dragged the overall sentiment."However, auto & consumer discretionary gained in expectations of a demand revival. With the supportive base of the domestic macros, the long-term outlook remains intact, and investors are likely to be focused on high-quality large-cap stocks until greater clarity emerges," he added.advertisementIndusInd Bank topped the gainers with a 4.44% jump, followed by Titan up 2.21%, Mahindra & Mahindra gaining 1.24%, Maruti Suzuki rising 1.12%, and Asian Paints adding 0.63%.TCS fell 1.79%, Adani Ports dropped 1.55%, Hindustan Unilever declined 1.34%, Nestle India was down 1.25%, and Bajaj Finserv slipped 1.19%."Investors will keep an eye on US Fed policy later today; the prospect of higher inflation due to the tariff threat may lead the FOMC to keep the rates unchanged," said Nair.
The broader market indices closed lower with Nifty Midcap falling 0.46%, Nifty Smallcap down 0.23%, while India VIX dropped 0.88%. Only three sectors managed to close in positive territory - Nifty Consumer Durables gained 0.79%, Nifty Private Bank rose 0.39%, and Nifty Auto added 0.37%.Most other sectors ended in the red. Nifty Media led the decline with a 1.27% fall, followed by Nifty IT down 0.83%, Nifty Metal falling 0.72%, Nifty Healthcare dropping 0.59%, Nifty Realty declining 0.47%, Nifty FMCG slipping 0.47%, Nifty Oil & Gas down 0.48%, Nifty PSU Bank falling 0.41%, Nifty Financial Services declining 0.31%, and Nifty Pharma losing 0.16%.advertisement(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)

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United News of India

3 hours ago

• United News of India

Sensex surges by 1,289.57 points during week

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Time of India

5 hours ago

• Time of India

Investors brace for oil price spike, rush to havens after US bombs Iran nuclear sites

Investors warned that U.S. airstrikes on Iranian nuclear sites could jolt global markets when they reopen, with oil prices likely to surge and a rush toward safe-haven assets such as the dollar expected. The attack, announced by President Donald Trump, deepens U.S. involvement in the Middle East conflict, raising concerns about inflation and economic uncertainty. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Oil prices, inflation Tired of too many ads? Remove Ads Dollar woes A U.S. attack on Iranian nuclear sites on Saturday could lead to a knee-jerk reaction in global markets when they reopen, sending oil prices higher and triggering a rush to safety, investors said, as they assessed how the latest escalation of tensions would ripple through the global attack, which was announced by President Donald Trump on social media site Truth Social, deepens U.S. involvement in the Middle East conflict. That was the question going into the weekend, when investors were mulling a host of different market scenarios. In the immediate aftermath of the announcement, they expected the U.S. involvement was likely to cause a selloff in equities and a possible bid for the dollar and other safe-haven assets when trading begins, but also said much uncertainty about the course of the conflict Trump called the attack "successful", few details were known. He was expected to address the nation later on Saturday."I think the markets are going to be initially alarmed, and I think oil will open higher," said Mark Spindel, chief investment officer at Potomac River Capital."We don't have any damage assessment and that will take some time. Even though he has described this as 'done', we're engaged. What comes next?" Spindel said. "I think the uncertainty is going to blanket the markets, as now Americans everywhere are going to be exposed. It's going to raise uncertainty and volatility, particularly in oil," he however, said there was time to digest the news before markets open and said he was making arrangements to talk to other market participants.A key concern for markets would center around the potential impact of the developments in the Middle East on oil prices and thus on inflation. A rise in inflation could dampen consumer confidence and lessen the chance of near-term interest rate cuts."This adds a complicated new layer of risk that we'll have to consider and pay attention to," said Jack Ablin, chief investment officer of Cresset Capital. "This is definitely going to have an impact on energy prices and potentially on inflation as well."While global benchmark Brent crude futures have risen as much as 18% since June 10, hitting a near five-month high of $79.04 on Thursday, the S&P 500 has been little changed, following an initial drop when Israel launched its attacks on Iran on June the U.S. attack on Saturday, analysts at Oxford Economics modeled three scenarios, including a de-escalation of the conflict, a complete shutdown in Iranian oil production and a closure of the Strait of Hormuz, "each with increasingly large impacts on global oil prices."In the most severe case, global oil prices jump to around $130 per barrel, driving U.S. inflation near 6% by the end of this year, Oxford said in the note. "Although the price shock inevitably dampens consumer spending because of the hit to real incomes, the scale of the rise in inflation and concerns about the potential for second-round inflation effects likely ruin any chance of rate cuts in the U.S. this year," Oxford said in the note, which was published before the U.S. strikes. In comments after the announcement on Saturday, Jamie Cox, managing partner at Harris Financial Group, agreed oil prices would likely spike on the initial news. But Cox said he expected prices to likely level in a few days as the attacks could lead Iran to seek a peace deal with Israel and the United States."With this demonstration of force and total annihilation of its nuclear capabilities, they've lost all of their leverage and will likely hit the escape button to a peace deal," Cox said. Economists warn that a dramatic rise in oil prices could damage a global economy already strained by Trump's any pullback in equities might be fleeting, history suggests. During past prominent instances of Middle East tensions coming to a boil, including the 2003 Iraq invasion and the 2019 attacks on Saudi oil facilities, stocks initially languished but soon recovered to trade higher in the months average, the S&P 500 slipped 0.3% in the three weeks following the start of conflict, but was 2.3% higher on average two months following the conflict, according to data from Wedbush Securities and CapIQ escalation in the conflict could have mixed implications for the U.S. dollar, which has tumbled this year amid worries over diminished U.S. the event of U.S. direct engagement in the Iran-Israel war, the dollar could initially benefit from a safety bid, analysts said."Do we see a flight to safety? That would signal yields going lower and the dollar getting stronger," said Steve Sosnick, chief market strategist at IBKR in Greenwich, Connecticut. "It's hard to imagine stocks not reacting negatively and the question is how much. It will depend on Iranian reaction and whether oil prices spike."

The Print

15 hours ago

• The Print

Rupee recovers from two-month low level; settles 18 paise higher at 86.55 against US dollar

At the interbank foreign exchange, the domestic currency opened at 86.65 and traded in a narrow range of 86.55-86.67, before ending the session at its intra-day peak of 86.55 against the US dollar, registering a gain of 18 paise from previous closing level. A robust sentiment in domestic equity markets further supported the local unit, according to forex traders. Mumbai, Jun 20 (PTI) The rupee snapped its three-day losing streak and settled with a gain of 18 paise at 86.55 against the US dollar on Friday, buoyed by a massive inflow of foreign capital, retreating crude oil prices and a weakening greenback. The rupee had lost 30 paise to close at an over two-month low of 86.73 against the dollar on Thursday, logging a combined loss of 69 paise in the past three sessions. According to Maneesh Sharma, AVP – Commodities & Currencies, Anand Rathi Shares and Stock Brokers, the rupee gained on Friday but declined a little over 1 per cent this month so far, 'with a large portion of its decline occurring after Israel attacked targets in Iran last Friday'. Dilip Parmar, Research Analyst, HDFC Securities, attributed the rupee's resurgence to 'a revitalisation in the domestic stock markets and a subdued greenback, which receded following reports of President Donald Trump postponing a decision regarding an Iran strike'. Additionally, Parmar said, lower imported commodity prices lent additional buoyancy to the local rupee. 'In the near-term, the spot USD/INR pair faces resistance at 87.10 and finds support at 86.45. The overall bias for the USD/INR pair remains favourable,' he added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.30 per cent lower at 98.60. In the domestic equity market, the 30-share BSE Sensex surged 1,046.30 points to settle at 82,408.17, while Nifty soared 319.15 points to 25,112.40. Brent crude, the global oil benchmark, declined 2.36 per cent to USD 76.99 per barrel in futures trade. Foreign institutional investors (FIIs) purchased equities worth Rs 7,940.70 crore on a net basis on Friday, according to exchange data. The latest weekly data released by the Reserve Bank of India on Friday showed India's forex reserves rose USD 2.294 billion to USD 698.95 billion during the week ended June 13. However, government data showed the country's eight core sectors' growth slowed down to 0.7 per cent, lowest in nine months, in May 2025 against 6.9 per cent in the same month last year. In April, the growth in output of these key infrastructure sectors were recorded at 1 per cent. PTI TRB HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.