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June 24, 2025 – Markets Climb After Trump Announces Iran-Israel Ceasefire  

The Nifty today witnessed a session marked by massive intraday volatility, ultimately settling with a modest gain.  

In the first half, the index surged to a high of 25,317, registering a gain of 345 points over its previous close as President Donald Trump announced a truce between Israel and Iran.  

However, post noon, unconfirmed reports of the restarting of the hostilities between Iran & Israel led to a sharp trend reversal. Nifty plunged 318 points from its day’s high. It finally ended the day with a gain of 72 points (0.29%), closing at 25,044.  

Leading the charge among the top performers on the Nifty were Adani Ports, JIOFIN, and Shriram Finance. Conversely, ONGC, Power Grid, and IndusInd Bank ended the session as major losers. Trading volumes on the NSE cash market were sharply higher by 23% compared to yesterday, indicating significant activity amidst the volatility.  

The Indian Rupee staged a strong comeback, surging 78 paise against the US Dollar to close at 85.97, marking its highest close since June 12th. This significant appreciation was primarily driven by a sharp fall in crude oil prices following reports of an Israel-Iran ceasefire. A weaker Dollar Index and robust domestic equity markets also provided substantial support to the Indian Rupee.  

The Midcap and Small Cap indices continued their outperformance relative to the Benchmark. Both the Nifty Midcap 100 and Nifty Small Cap 100 Indices gained a healthy 0.70%. Market breadth also turned positive, with advancing stocks significantly outpacing declining ones, as indicated by a BSE advance-decline ratio of 1.99 – it’s highest since May 15th.  

Amongst the sectors, Nifty PSU Banks, Metals, and Financial Services registered the most significant gains, showing strong buying interest. Conversely, Nifty Media and Oil & Gas were the only two indices that ended the day in the red.  

From a technical standpoint, the Nifty failed to decisively surpass the 25,200 barrier on a closing basis, which indicates the continuation of its consolidation trend. The levels of 24,733 will continue to serve as a strong support, while 25,200 will remain a key resistance for the Nifty in the short term. 

Source: HDFC Securities – Prime End of the Day Summary 

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