Synopsis : Indian markets opened weak but rebounded from early lows, with Sensex and Nifty both down amid rising geopolitical tensions between Iran and Israel. Volatility remains high, and investors are watching global developments closely.
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Markets Open Weak, Recover Slightly as Geopolitical Worries Persist
Mumbai, June 23 – Indian equity indices started the week on a shaky note, with Sensex falling over 650 points and Nifty slipping below the 25,000 mark amid escalating tensions between Iran and Israel. However, the markets managed to pare some early losses by mid-session, reflecting cautious optimism.
At mid-day, the Sensex stood at 81,748.84, down 0.80%, while the Nifty was down 0.77%, hovering around 24,969. Market sentiment remained jittery as investors weighed the consequences of a US-led bombing of Iranian nuclear facilities and the expected Iranian response.
What’s Driving the Decline?
Geopolitical tension: Conflict in West Asia is rattling global markets.
Volatility index surges 3%, signaling investor nervousness.
Muted global cues: Weak sentiment across Asia and lower US futures.
“The Iranian response will decide the next market direction. For now, markets are cautious but not panicking,” said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments.
Top Gainers
Bharat Electronics
Bharti Airtel
These stocks showed resilience despite broad-based selling.
Key Laggards
Infosys
Shriram Finance
Hero MotoCorp
JSW Steel
TCS
M&M
IT and auto stocks led the declines, reflecting global demand concerns and risk-off sentiment.
Global Market Snapshot
Japan’s Nikkei 225: -0.56%
Topix Index: -0.49%
Kospi (South Korea): -1.0%
Kosdaq (South Korea): -1.78%
Investors across the Asia-Pacific region remained cautious following geopolitical headlines.
Technical Takeaway
The Nifty is holding near the 24,900 support zone.
Bank Nifty has immediate support at 55,500; resistance lies near 57,350.
The 20-day Simple Moving Average offers a cushion, but further developments in the Middle East will steer momentum.
Disclaimer : This article is for informational purposes only and does not constitute financial advice. Investors should perform their own due diligence or consult a licensed advisor before making investment decisions.
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