Despite heightened concerns due to the Israel-Iran war, the Indian stock market posted healthy intraday gains on Monday, June 16, with the benchmark indices — Sensex and Nifty 50 — rising by nearly 1 per cent each, supported by select heavyweights, including HDFC Bank, Infosys, Reliance Industries, and TCS.
The Sensex opened at 81,034.45 against its previous close of 81,118.60 and jumped over 700 points, or nearly 1 per cent, to an intraday high of 81,832.66. The Nifty 50 started the day at 24,732.35 against its previous close of 24,718.60 and jumped about 1 per cent to an intraday high of 24,953.05.
The BSE Midcap and Smallcap indices rose about half a per cent each.
What’s driving the Indian stock market amid the Israel-Iran war?
Experts highlight the following five key factors that seem to be behind the rise in the Indian stock market today:
1. Hopes of a truce between Israel and Iran
Experts highlight the subtle hints given by the US President Donald Trump that the two warring countries may take steps to ease tensions.
Donald Trump took to his social media platform, Truth Social, to post about the increasing Israel-Iran conflict, claiming that both countries should sit down for talks and use trade to make a deal, in a similar way he got India and Pakistan on the table.
“Reports of Donald Trump mediating between the two countries have raised hopes of a ceasefire, lending support to market sentiment,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
(This is a developing story. Please check back for fresh updates.)
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Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
