After the Israel-Iran ceasefire, today, Tuesday, June 24, the Sensex rose by about 158 points to close at 82,055. The Nifty also gained 72 points, closing at 25,044.
The day saw Sensex fall 963 points from the day-high of 83,018. Nifty also fell 273 points from its day-high, closing lower. During the session, it had reached 25,317.
Out of 30 Sensex stocks, 18 gained. Adani Ports rose 2.6%. Shares of Ultratech Cement, Tata Steel, and Kotak Mahindra Bank increased up to 1.5%. Power Grid, NTPC, and Trent fell by 1.5%.
Out of 50 Nifty stocks, 36 rose. Shares of public sector banks and metals rose around 1.5%. Media sector fell by 1% closing lower.
Three reasons for market fluctuations:
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Violation of Israel-Iran ceasefire: Despite Israel accepting the ceasefire, Iran launched a missile attack. Now, the Israeli government has ordered the army to strike Tehran. Trump had announced the ceasefire between the two.
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Fall in crude oil prices: Today, crude oil prices dropped by up to 2% to $67.13 per barrel. Brent crude price fell 1.8% to $67.17 per barrel. After the conflict began, oil prices had risen by 10%.
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Buying by foreign and domestic investors: Support from foreign investors is strengthening the market. On Monday, FIIs made a net purchase of ₹5,591.77 crore in domestic equities.
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