Taking Stock: Nifty below 25,000 despite recovery from lows as crude oil simmers after strike on Iran

Market Today

Benchmark indices erased early losses but still ended lower by over half a percent on June 23, as escalating geopolitical tensions in the middle-east weighed on equities and businesses dependent on crude oil after prices stayed above $78 per barrel over looming risk to the Strait of Hormuz, with Nifty 50 index ending below the 25,000 level.

After opening sharply lower, markets extended the fall in the initial hours, but a recovery in metal stocks, as well as small and midcap indices helped recoup early losses. At close, the Sensex was down 511.38 points or 0.62 percent at 81,896.79, and the Nifty was down 140.50 points or 0.56 percent at 24,971.90. The broader indices outperformed the main indices with BSE midcap index rising 0.2 percent and smallcap index adding 0.6 percent.

Read More: Defence stocks rally after US strikes Iran; Paras Defence, BEL, others jump up to 5%

Stocks & Sectors in Action

Trent, Bharat Electronics, Hindalco Industries, Adani Enterprises, Bajaj Finance were among major gainers on the Nifty, while losers were Infosys, Larsen and Toubro, Hero MotoCorp, Mahindra and Mahindra, HCL Technologies.

On the sectoral front, IT, FMCG, Auto, Bank, telecom down 0.3-1.5 percent, while Consumer Durables, media, metal, capital goods up 0.3-4 percent.

Also Read: Accenture's Q3 guidance fails to impress, Nifty IT sinks 1.5%; Infosys, TCS, HCL Tech shares lead losses

Northern Arc Capital shares jumped 8% as Madhusudan Kela's fund bought stake, Bharat Electronics' shares hit fresh high on orders win, Zee Entertainment shares gained 11 percent on initiatives to boost growth and Zen Technologies added 5% as it stepped into UAV space with TISA Aerospace buy.

Index	Prices	Change	Change%
Sensex	83,535.35	319.07	+0.38%
Nifty 50	25,574.35	82.05	+0.32%
Nifty Bank	57,937.55	60.75	+0.10%

Nifty 50 25,574.35 82.05 (0.32%)

Mon, Nov 10, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Infosys	1,513.50	36.70	+2.49%

Biggest Loser	Prices	Change	Change%
Trent	4,283.70	-343.60	-7.43%

Best Sector	Prices	Change	Change%
Nifty IT	35688.30	570.70	+1.63%

Worst Sector	Prices	Change	Change%
Nifty FMCG	55334.40	-102.80	-0.19%

Nearly 100 stocks on the BSE touched their 52-week highs, including Garden Reach Shipbuilders, Poonawalla Fincorp, Narayana Hrudayalaya, Bharat Electronics, MCX India, Aditya Birla Capital, Authum Invest, among others. Click to View More.

Outlook for June 24

Aditya Gaggar Director of Progressive Shares

The Index opened with a gap-down and initially moved lower, but gradually trimmed its losses. However, it struggled to sustain gains at higher levels and eventually ended the day at 24,971.90 with a loss of 140.50 points. Sectoral performance was mixed, with Media and Metal emerging as the top performers, while IT and Auto lagged. On the other hand, the Broader markets witnessed a strong recovery, resulting in gains of 0.36% & 0.70% in Mid and Smallcap segments.

Technically, the Index has formed a Harami Candlestick pattern, indicating potential indecision in the market. A breakout above or below the previous day's high or low-placed at 25,130 and 24,780 respectively, will be crucial, as these levels now serve as immediate resistance and support.

Rupak De, Senior Technical Analyst at LKP Securities

The Nifty recovered significantly on June 23 after a weak start. A pullback in crude oil prices helped the Indian market pare some of its morning losses, although it still ended on a negative note.

For the day, the Nifty managed to close above the support level of 24,850, and Indian equities may continue to offer buying opportunities as long as the Nifty sustains above this level. On the higher side, if it moves above 25,000, it may head towards 25,350 in the short term.

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