Market Closing Wrap: Indices End Higher as Ceasefire Spurs Rally, Volatility Lingers

Indian equity markets closed in positive territory on June 24, 2025, as investor sentiment improved following a tentative ceasefire between Israel and Iran. The BSE Sensex advanced 158.32 points or 0.19% to settle at 82,055.11, while the Nifty 50 rose 72.45 points (0.29%) to finish at 25,044.35. The Nifty Bank index outperformed, gaining 0.72%, closing at 56,461.90.

The rally was underpinned by a sharp drop in global crude oil prices, Brent crude fell 2.92% to $69.39 per barrel-after US President Donald Trump’s announcement of a potential ceasefire, easing fears of prolonged supply disruptions and inflationary pressures.

Broader Market Outperformance

The broader market exhibited robust performance, with the Nifty Midcap 100 and Nifty Smallcap 100 indices closing up 0.71% and 0.72% respectively. On the BSE, 2,880 stocks advanced, while 880 declined and 182 remained unchanged, highlighting the breadth of the rally. The combined market capitalisation of all listed companies on the BSE surged by ₹4.43 lakh crore, reaching ₹452.25 lakh crore.

Sectoral indices painted a mixed picture. The Nifty PSU Bank index led the gains, rising 1.46%, followed by strong performances in metals, infrastructure, and realty. The Nifty IT index closed flat, reflecting cautious sentiment in the technology sector.

Key Gainers and Losers

Top Gainers:

Adani Ports: Up 2.89% to ₹1,394.00, benefiting from improved logistics and trade outlook amid easing geopolitical tensions.

PSU Banks: Outperformed on expectations of continued government support and robust credit growth.

Top Losers:

ONGC: Down 2.90% to ₹244.09, as falling crude prices weighed on oil exploration stocks.

Defence Stocks: Bharat Dynamics, BEL, Garden Reach Shipbuilders, and Cochin Shipyard traded lower as profit booking set in after a strong run-up during the conflict.

Market Volatility and Intraday Swings

Despite the positive close, the trading session was marked by significant volatility. The Nifty 50, after surging over 300 points to cross the 25,250 mark-its highest since October 2024-retreated more than 260 points from the day’s high. The Sensex, which had gained over 1,000 points intraday, saw its gains shrink to around 500 points before settling at a more modest advance. This volatility was driven by renewed uncertainty in the Middle East, as reports emerged of ceasefire violations, prompting investors to lock in profits and reassess risk exposure.

Currency and Commodity Movements

The Indian rupee strengthened against the US dollar, buoyed by the decline in oil prices and improved risk sentiment. Gold and silver prices edged lower, with August gold futures on MCX closing at ₹1,00,680 per 10 grams, down ₹10 from the previous session.

Market Outlook

The market’s positive close reflects cautious optimism, driven by geopolitical relief and a sharp correction in oil prices. However, the day’s volatility underscores the fragility of sentiment, with investors closely monitoring developments in the Middle East and global energy markets. Analysts expect the market to remain range-bound in the near term, with key support and resistance levels for the Nifty at 24,800 and 25,300 respectively. The focus will remain on corporate earnings, monsoon progress, and global macroeconomic cues.

Conclusion

Indian markets ended higher on June 24, 2025, as a tentative ceasefire between Israel and Iran spurred a risk-on rally. While the broader market outperformed, volatility persisted amid geopolitical uncertainty. The sharp drop in oil prices provided relief to import-sensitive sectors, but profit booking in recent outperformers capped the upside. Investors will remain vigilant for further developments in the Middle East and their impact on global risk appetite.

The Nifty 50 is trading 247.55 points or 0.99% up at 25,218.55, while the BSE Sensex is trading 842.09 points or 1.03% up at 82,750.03.

Indian equities surged today, buoyed by a combination of global and domestic tailwinds. The announcement of a ceasefire between Iran and Israel eased geopolitical tensions, leading to a sharp decline in Brent crude prices, which fell below $85 per barrel. This provided relief to inflation-sensitive sectors and strengthened the rupee.

The improved oil dynamics, coupled with a weaker US dollar, lifted risk appetite across Asian markets. Domestic institutional investors continued their buying streak, helping offset foreign fund outflows.

Technically, the Nifty broke past key resistance levels near 25,000, with futures suggesting a trading range of 24,500-25,300 and an upside bias.

Overall, a favourable global environment, supportive crude trends, and sustained domestic flows have driven the Sensex and Nifty to new highs, with the Sensex rallying over 1,000 points and the Nifty crossing 25,300.

Top 5 Gainers in the Market: 

1. Adani Ports (ADANIPORTS)

• Opening Share Price: ₹1,395.10
• Current Share Price (LTP): ₹1,404.90
• % Change: +3.70%

Reason for Increase:
Adani Ports shares rallied on the back of robust cargo volume growth updates and optimism surrounding the easing of Middle East tensions, which has reduced concerns over global supply chain disruptions. The company also benefited from positive brokerage upgrades after reporting higher-than-expected throughput at its key terminals.

2. Jio Financial Services (JIOFIN)

• Opening Share Price: ₹298.00
• Current Share Price (LTP): ₹303.85
• % Change: +3.65%

Reason for Increase:
Jio Financial Services advanced following reports of a potential strategic partnership with a leading fintech player, aimed at expanding its digital lending portfolio. Market sentiment was also boosted by expectations of regulatory approval for new product launches.

3. UltraTech Cement (ULTRACEMCO)

• Opening Share Price: ₹11,559.00
• Current Share Price (LTP): ₹11,810.00
• % Change: +3.15%

Reason for Increase:
UltraTech Cement shares gained after the company announced a significant capacity expansion plan and reported strong quarterly sales volumes. The positive outlook for infrastructure spending, following the government’s renewed push for affordable housing and construction, further lifted investor sentiment.

4. Tata Steel (TATASTEEL)

• Opening Share Price: ₹153.80
• Current Share Price (LTP): ₹156.79
• % Change: +2.86%

Reason for Increase:
Tata Steel rose as global steel prices rebounded and the company secured a major export order from Southeast Asia. Additionally, a dip in raw material costs and easing of trade tensions contributed to the positive momentum in metal stocks.

5. Larsen & Toubro (LT)

• Opening Share Price: ₹3,637.10
• Current Share Price (LTP): ₹3,681.40
• % Change: +2.72%

Reason for Increase:
L&T shares climbed after the engineering giant secured a large infrastructure contract from a Middle Eastern government, as announced yesterday. The de-escalation of regional conflict has also improved the outlook for overseas project execution and order inflows.

Top 5 Losers in the Market

1. ONGC (Oil and Natural Gas Corporation)

• Opening Price: ₹247.50
• Current Price: ₹245.00
• % Change: -2.54%

Reason for Decline:
ONGC shares fell as global crude oil prices retreated sharply after a tentative ceasefire between Iran and Israel was announced. This led to profit booking in oil exploration stocks, which had rallied on supply disruption fears. Additionally, concerns over softer realisations and potential regulatory interventions weighed on sentiment.

2. NTPC (National Thermal Power Corporation)

• Opening Price: ₹331.00
• Current Price: ₹330.15
• % Change: -0.74%

Reason for Decline:
NTPC saw mild selling as power sector stocks faced pressure after a recent rally. The decline also follows news of easing power demand projections for the coming weeks as monsoon conditions improve, potentially reducing peak load expectations.

3. IndusInd Bank

• Opening Price: ₹851.00
• Current Price: ₹836.70
• % Change: -0.38%

Reason for Decline:
IndusInd Bank shares slipped amid broader weakness in the banking sector, as investors booked profits after a recent uptrend. Cautious commentary from the Reserve Bank of India regarding credit growth and asset quality also contributed to the subdued sentiment.

4. Power Grid Corporation of India

• Opening Price: ₹293.45
• Current Price: ₹289.65
• % Change: -0.21%

Reason for Decline:
Power Grid shares edged lower as defensive sectors underperformed in a risk-on market environment. The stock also faced minor selling pressure following reports of muted transmission project awards in the latest government update.

5. Bharat Electronics Limited (BEL)

• Opening Price: ₹426.40
• Current Price: ₹420.70
• % Change: -0.05%

Reason for Decline:
BEL registered a marginal decline after a strong run in previous sessions. The stock was impacted by profit booking as defence stocks corrected sharply on signs of de-escalation in the Middle East, reducing expectations of immediate order inflows.

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