Sensex, Nifty end higher despite Iran-Israel truce tensions

Mumbai, Jun 24: The Indian stock markets ended Tuesday on a positive note, even though benchmark indices gave up most of their early gains due to fresh geopolitical concerns.

After rising over 1 per cent in early trade, both the Sensex and Nifty settled with modest gains as news emerged of a possible breach in the newly announced ceasefire between Iran and Israel.

The Sensex had touched an intra-day high of 83,018.16 but later pared its gains and closed at 82,055.11. It still ended the day with a gain of 158.32 points, or 0.19 per cent.

The Nifty, too, saw volatility through the day. It moved between 25,317.70 and 24,999.70 before settling at 25,044.35, up by 72.45 points or 0.29 per cent.

Market experts said that while the initial surge was driven by optimism around the ceasefire announcement, the mood turned cautious after reports hinted at renewed tensions in the Middle East.

“The Nifty’s failure to surpass the 25,200-resistance level indicates that the bears are still active and not ready to give in,” Ajit Mishra of Religare Broking Limited said.