Mumbai (Maharashtra) [India], June 16 : The Indian stock market indices ended in the green territory on Monday, without being impacted by the geopolitical tensions between Iran and Israel.
At the end of today's trading session, the BSE Sensex closed 677.51 points or 0.84 per cent up at 81,796.15, while Nifty 50 added 227.90 points or 0.92 per cent to close at 24,946.50.
"Despite mounting global uncertainty triggered by escalating tensions in the Middle East, Indian markets remained resilient. The geopolitical landscape took a sharp turn as Israeli military strikes on Iran raised alarms over potential disruptions in oil supply and regional stability, unsettling global investor," said Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity - Ashika Stock Broking.
All the Nifty Sectoral indices ended their day on a positive note. Out of all the sectors, Nifty IT was the top mover as it registered a gain of nearly 1.6 per cent, followed by Nifty Realty and Nifty Oil & Gas.
"On the stock-specific front, Tata Motors witnessed a sharp decline of 5% after its UK-based subsidiary, Jaguar Land Rover (JLR), flagged growing pressure in China's premium car segment for FY25despite China being the largest automobile market globally," Sundar Kewat added.
On NSE, 1,483 out of 3,021 traded stocks on the NSE were in green territory, while 1,448 declined and 90 remained unchanged on Monday.
Vinod Nair, Head of Research, Geojit Investments Limited noted that Despite the ongoing geopolitical tensions between Israel and Iran, the market moved higher, supported by gains in large-cap stocks, as investors maintained their focus on long-term fundamentals in the time of volatile situations.
"Geopolitical developments in the Middle East are likely to influence near-term market sentiment, with any signs of de-escalation being closely monitored. Small-cap stocks are expected to underperform in the short term, given their elevated valuations and absence of short-term triggers. Among sectors, oil and gas recorded strong gains, while the IT sector outperformed in anticipation of the upcoming US Fed policy meeting, which is expected to provide further clarity on the interest rate outlook." noted Nair
On the precious metal front, gold at MCX ended its run for the day in the red category, but gold prices on Monday surged to a historic high in the domestic futures market, boosted by the rising geopolitical tensions between Israel and Iran. It touched an all-time high of touching Rs 1,01,078.
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