Indian equity markets ended Tuesday’s session on a subdued note, with benchmark indices Nifty 50 and BSE Sensex closing nearly flat as geopolitical tensions in West Asia dampened investor sentiment.
The Nifty edged up 11.30 points, or 0.05 per cent, to close at 24,364.85, while the Sensex rose 27 points, or 0.03 per cent, to settle at 78,520.30. Both indices had traded higher for most of the day but lost momentum toward the close amid escalating concerns over the US–Iran situation.
Market experts indicated that the 24,400–24,500 zone remains a crucial resistance band for the Nifty.
A decisive breakout above this range is required to extend gains toward 24,850 and eventually the 25,000 mark, where supply pressure is expected.
On the downside, 24,200 provides immediate support, aligned with the 50-day moving average. Below this, the 24,100–24,000 range forms a key demand zone, supported by positioning data and past price trends.
Market volatility surged sharply, with the India VIX climbing 10.5 per cent to 19.01.
Among stocks, Jio Financial Services, Hindalco Industries and Tata Motors were the top laggards. Sectorally, PSU banking and media stocks outperformed, while IT and realty stocks faced selling pressure.
The cautious sentiment followed renewed tensions in West Asia after the United States Navy seized an Iranian-flagged cargo vessel in the Gulf of Oman, alongside reports of Iran firing at commercial vessels near the Strait of Hormuz, a key global oil route.
These developments have raised concerns about disruptions to global oil supply and cast uncertainty over upcoming diplomatic talks between the United States and Iran.
Analysts noted that while domestic fundamentals remain high, geopolitical risks continue to influence short-term market direction.
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