Indian stock markets began the week on a cautious note as escalating Middle East tensions rattled investor sentiment. The slide followed U.S. airstrikes on three Iranian nuclear facilities, underscoring American support for Israel in the intensifying conflict.
The Sensex dropped 511.38 points or 0.62%, settling at 81,896.79. It swung between a high of 82,169.67 and a low of 81,476.76 during the day. The Nifty mirrored the downtrend, falling 140.50 points or 0.56% to close at 24,971.90 after hitting an intraday high of 25,057 and a low of 24,824.85.
Interestingly, broader indices outperformed the frontline benchmarks. The Nifty Midcap100 edged up by 0.36%, while the Smallcap100 rose 0.70%.
Among Sensex components, HCL Tech, Infosys, Larsen &amp; Toubro, Mahindra &amp; Mahindra, Hindustan Unilever, and ITC were the top losers, with declines ranging from 1.21% to 2.28%. On the flip side, Trent, Bharat Electronics, Bajaj Finance, Kotak Mahindra Bank, and Bajaj Finserv were among the top gainers, rising between 0.58% and 3.39%.
Sector-wise performance was mixed. Bank Nifty, Auto, FMCG, and Realty closed in the red, while Metal, Consumer Durables, Pharma, and Media posted gains. The Nifty IT index was the worst performer, falling 1.48%, dragged down by companies like Coforge and Persistent Systems.
Markets had ended last week on a hopeful note, anticipating a diplomatic breakthrough after the U.S. announced a two-week window for reviewing its military involvement. However, the unexpected strikes on Iranian sites over the weekend dashed those hopes, sending crude oil prices soaring and fueling volatility in domestic equities.
The India VIX, a measure of market volatility, climbed 2.74% to 14.05.
Despite a weak start, a dip in crude prices later in the day helped trim some losses. However, the mood remained cautious overall.
Meanwhile, the rupee weakened by 0.11 to close at 86.75 against the U.S. dollar as the dollar index approached the 99 mark. Analysts indicated further downside is possible if the rupee slips below 86, with next support seen near 87. Except for the headline, this article has not been edited by the Benefit News editorial team and is published directly from the IANS news feed.

Geopolitical worries drag Sensex and Nifty into red; broader markets, metals, smallcaps resist slide

Sensex Slides Amid Mideast Tensions, Ends 511 Pts Down

Geopolitical worries drag Sensex and Nifty into red; broader markets, metals, smallcaps resist slide

June 23, 2025 | 16:45 IST