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8h ago

Sensex and Nifty End Higher Despite Swings Around Iran-Israel Truce Breach

President Trump’s ceasefire announcement drove crude oil prices to two-week lows, bolstering global equities until Iran’s missile fire rattled markets

US President Donald Trump addresses the nation, alongside US Vice President JD Vance (L), US Secretary of State Marco Rubio (2nd R) and US Secretary of Defense Pete Hegseth (R), from the White House in Washington, DC on June 21, 2025, following the announcement that the US bombed nuclear sites in Iran
A plane taxis on the tarmac after an air traffic control outage, bringing flights to a standstill at Newark International Airport in Newark, New Jersey, U.S., May 11, 2025. REUTERS/Eduardo Munoz/File Photo
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Israel's government bond prices have soared and risk premium has fallen low.

Overview

  • The ceasefire deal announced by President Trump on June 24 halted 12 days of Iran-Israel hostilities, triggering an early rally in US and Asian stock futures
  • Brent crude futures plunged nearly 3% to about $69.40 a barrel, their lowest since June 11, on hopes of easing Middle East supply risks
  • The BSE Sensex surged over 1,100 points intraday before paring gains to close 158.32 points up at 82,055.11, while the NSE Nifty50 finished 72.45 points higher at 25,044.35
  • Iran’s missile strike on Israel breached the truce and prompted Defence Minister Israel Katz to vow a strong military response
  • The rupee strengthened by 77 paise to 85.98 against the US dollar, and US S&P 500 futures rose 0.4% as investor risk appetite improved