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On June 24, the Indian stock market once again felt the hot air of geopolitical tension. The day started rapidly, but as soon as there were reports of Israel-Iran struggle, profit booking gained momentum and the market fell from its height to 1,100 points.
The beginning of the day is fantastic, but a slight increase until the end
Sensex opened at 82,534.61 levels and reached Intrade High of 83,018, ie a rise of about 1,100 points. But after this, the news of profits and stress pulled the market down and the Sensex fell to 81,900. In the end, the Sensex closed at 82,055.11 with a slight gain of 0.19 per cent up, ie 0.19 per cent.
At the same time, the Nifty 50 started at 25,179.90 and put a high of 25,317.70, but then it also slipped to 24,999.70. Finally, the Nifty closed up 72 points, ie 0.29 per cent to close at 25,044.35. The midcap and smallcap index performed a little better, BSE midcap rose 0.56 per cent and smallcap 0.71 per cent.
Israel-Iran became stress due to instability in the market
According to media reports, Israel accused Iran of breaking ceasefire and then ordered retaliation. Israeli Defense Minister Israel Catz said that Iran fired missiles, which was an open disregard of the ceasefire declared by the US. In response to this, he has given instructions for high intensity military operation in Tehran. However, Iran has dismissed these allegations outright. This incident created an atmosphere of instability and fear in the market.
will it remain the same?
Experts believe that Bhurajnical stress is now becoming ‘new normal’. As long as this situation remains, the market will continue to face such fluctuations. Apart from this, instability in crude oil prices is also a matter of concern for India. India is the largest crude importer in the world, and if the prices rise then the trade deficit, weakness of rupee, inflation and corporate profits can be affected. At the moment, Brent crude has fallen by about 4 per cent, as investors are monitoring the Middle East situation.
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Market News (T) Israel Iran Caizfire (T) Iran Israel War (T) Sensex (T) Nifty (T) Business News
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