Nifty jumps 250 pts, Sensex up by 850 pts amid Israel-Iran ceasefire, focus now shifts to tariff deadline July 9
New Delhi [India], June 24 (ANI): Indian stock markets witnessed a strong rally on Tuesday opening session after US President Donald Trump announced a ceasefire between Israel and Iran, bringing some relief to global investors amid recent geopolitical tensions.
The benchmark Nifty 50 index opened higher at 25,179.90, gaining 208 points or 0.83 per cent. The Sensex also opened strong at 82,534.61, marking a jump of 637.82 points or 0.78 per cent.
Experts said that with tensions between Israel and Iran de-escalating, investors are now shifting focus to upcoming global events that could influence markets. One of the key dates on investors’ radar is July 9, the deadline related to US tariff decisions. If tariff concerns are deferred or resolved, the markets may continue their upward trend.
Ajay Bagga, Banking and Market Expert told ANI “The geopolitical storm seems to be ending as President Trump announces Israel-Iran ceasefire. Markets have started chasing the proverbial rainbow just beyond the horizon. Crude oil made the biggest move, with the entire USD 10 risk premium embedded being shattered in a swift move downwards. Global stock markets are cheering the cessation of hostilities. Dollar is down, Gold is down and risk on moves are evident in soaring markets”.
He further added “The rainbow is clouded by uncertainty around Trump tariffs, Trump tax bill and the Fed next move. As the war clouds disperse, the next overhang on markets will be the looming deadline for tariffs of July 9th, the passage of the Big Beautiful Trump Tax bill and the July 29th-30th FOMC meeting where rate cuts might resume”.
The positive momentum was seen across broader market indices as well. The Nifty 100 index rose by 1 per cent in early trade. Meanwhile, the Nifty Midcap index jumped 1.13 per cent and the Nifty Small Cap index surged by 1.18 per cent at the time of filing this report.
On the sectoral front, most indices traded in the green on the NSE. The Nifty IT index gained 1.25 per cent, Nifty PSU Bank surged 1.75 per cent, and Nifty Metal also went up by 1.34 per cent at the time of filing this report.
Other Asian markets also echoed similar sentiment. Japan’s Nikkei 225 surged over 1 per cent, Hong Kong’s Hang Seng index gained 2 per cent, South Korea’s KOSPI jumped 2.86 per cent, while Taiwan’s weighted index surged by 1.85 per cent.
