Share Market Today: Sensex Ends Over 150 Points Higher, Nifty Reclaims 25,000 Amid Iran-Israel Ceasefire

Stock Market News: Headline indices bounced back on June 24, with the Sensex and the Nifty ending in the green amid de-escalation between Iran and Israel following US President Donald Trump’s ceasefire announcement. The Sensex ended at 82,055.11, which levelled up to 158.32 points or 0.19 per cent. On the other hand, the Nifty 50 closed at 25,044.35 up by 72.45 points or 0.29 per cent. Earlier today, the Sensex surged 1.36 per cent to trade at an intraday high of 83018.16 levels, and the Nifty 50 also surged 1.38 per cent to trade at an intraday high of 25317.7. The headline indices gained amid a decline in global uncertainty following the de-escalation between Iran and Israel. However, the headline indices pared the gains as it closed.

Adani Ports, Jio Finance and Shriram Finance Lead Gainers

On June 24, shares of Adani Ports and Special Economic Zones, Jio Financial Services Ltd and Shriram Finance emerged as top gainers as they closed higher by up to 2.89 per cent. Shares of Adani Ports and Special Economic Zones, which emerged as the top gainer among Nifty 50 stocks, surged nearly 5 per cent to trade at an intraday high of Rs 1418.7 apiece. On the other hand, shares of ONGC, Powergrid Corporation of India Ltd, IndusInd Bank ended lower by as much as 2.9 per cent.

Broader Market Indices Extend Gains On June 24

The broader markets extended gains on June 24 as the Nifty SmallCap 100 and the Nifty MidCap 100 closed the session higher by 0.71 per cent and 0.72 per cent respectively. On the other hand the India VIX closed lower by 2.88 per cent indicating an easing volatility. The Nifty Bank and the Nifty Metal index emerged as the top gainers among sectoral indices finished the session higher by up to 1.01 per cent.

Global Markets on June 24

Wall Street indices finished the session higher on June 23, with the DJIA, Nasdaq Composite and the S&P 500 closing higher by up to 0.96 per cent. On the other hand, the Asian markets also closed higher, with Japan’s Nikkei 225 closing higher by 436.47 points or 1.13 per cent at 38,790.56 points. The Hang Seng and the Shanghai Composite also finished the session higher by 2.02 per cent and 1.14 per cent, respectively.

Primary Market Action On June 24

Shares of Eppeltone Engineers Ltd made their debut on the NSE SME Emerge platform on June 17. The stock listed with a premium of 90 per cent at Rs 243.2 compared to the issue price of Rs 128 apiece. Conversely, six public issues opened for bidding on June 24; these included SME issues such as Abram Food IPO, Icon Facilitators IPO and Shri Hare-Krishna Sponge Iron IPO. Three mainboard public issues namely Globe Civil Projects IPO, Ellenbarrie Industrial Gases IPO and Kalpataru IPO also opened for bidding today

Market Cues On June 24

D-Street is expected to look out for key developments related to US Federal Reserve’s policy announcemnts as US Fed Chair Jerome Powell will testify before Congress. Powell will alsotestify before the House Financial Services Committee. On the other hand the market is also expected to factor in emerging developments following the ceasefire between Israel and Iran declared by US President Donald Trump.