Stock Market Today: Nifty, Sensex, Bank Nifty Extend Losses Amid Global Tensions and Oil Price Surge
Indian equity markets witnessed a turbulent session on June 23, 2025, as major benchmark indices — Nifty50, Sensex, and Bank Nifty — struggled under the weight of global geopolitical tensions and surging crude oil prices. Despite the gloom in large-cap stocks, a few defensive sectors and recent IPO listings provided some hope for investors looking for relative outperformance.
This article presents an in-depth view of today’s market performance, sector trends, IPO updates, technical analysis, and what traders and investors should look out for in the coming days.
Benchmark Performance Overview
As of 12:30 PM IST, the Indian stock market benchmarks displayed significant declines:
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BSE Sensex: Down 742.55 points or 0.90% at 81,665.62
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Nifty50: Down 217.30 points or 0.86% at 24,895.10
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Bank Nifty: Down 0.82% at approximately 55,950
The midcap and smallcap indices, however, showed relative strength:
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Nifty MidCap 100: Up 0.05%
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Nifty SmallCap 100: Up 0.22%
These numbers reflect broad market caution, though selective buying in mid and small-cap counters offered pockets of resilience.
Global Backdrop Driving Market Weakness
Markets today were influenced heavily by external factors:
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Geopolitical Unrest: The United States’ bombing of key Iranian nuclear sites over the weekend sharply escalated tensions in West Asia. This development stoked fears of an extended conflict that could disrupt global supply chains, especially energy flows.
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Oil Price Shock: Brent crude surged over 3% intraday to trade above $91.50 per barrel. A spike of this magnitude raises red flags for the Indian economy, as higher crude prices could:
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Widen the current account deficit
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Exert inflationary pressure
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Erode corporate profitability in oil-dependent sectors
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Weak Global Markets: Major Asian indices were deep in the red:
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Nikkei: –1.4%
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Hang Seng: –1.8%
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Kospi: –1.1%
US market futures also hinted at continued weakness in Western markets.
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Sector-Wise Performance
The day saw clear sectoral divergence:
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IT and FMCG: Both sectors faced selling pressure due to margin concerns, high input costs, and weak global demand cues.
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Auto: Witnessed profit-booking after prior gains.
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Defence and Oil Upstream: These sectors outperformed as investors sought refuge in defensives and oil producers benefited from higher crude prices.
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Mid and Smallcaps: Select industrials, shipbuilders, and niche plays witnessed accumulation.
Stock Highlights
Gainers
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Bharat Electronics Ltd (BEL): Up 1.5% on fresh ₹585 crore orders.
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Hindustan Aeronautics (HAL): Gained 1.8% following an ISRO manufacturing contract win.
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Rajshree Polypack: Up 2.2% on Odisha expansion plans.
Laggards
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Infosys, TCS, HCLTech: Declined 1.5% to 2.3% amid tech sector weakness.
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Reliance Industries: Fell 1.4% on worries about rising input costs.
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Hindustan Unilever (HUL): Dropped 1.2% as inflation fears hurt FMCG sentiment.
IPO and Listing Activity
Fresh Listings
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Patil Automation (SME): Debuted at ₹155, a 29% premium to its ₹120 issue price. The IPO was 101x subscribed.
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Samay Project Services (SME): Listed at ₹36 versus ₹34 issue price, marking a modest 6% premium.
Recent Performances
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Oswal Pumps: Listed at ₹634, up 3% from issue price.
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Monolithisch India: Surged 62% on debut.
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Sacheerome: Gained 50% at listing.
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Scoda Tubes: Flat listing, later hit upper circuit.
Upcoming IPOs
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HDB Financial Services: IPO opens June 25 at ₹700–₹740 per share; grey market premium suggests 6% upside.
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AJC Jewel Manufacturers: Ongoing IPO to raise ₹15.4 crore.
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Sambhv Steel Tubes: Prepares for launch with ₹77–₹83 price band, valuing the company at ₹2,400 crore.
Despite the IPO rush, analysts warn that about 40% of FY25 mainboard IPOs are trading below issue price, with SME IPOs averaging a 31% YTD loss.
Technical Analysis
Nifty50
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Support: 24,926 / 24,872
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Resistance: 25,137 / 25,198
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Indicators: Hourly RSI near 35 suggests oversold levels; MACD negative.
Sensex
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Support: 81,600 / 81,300
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Resistance: 82,000 / 82,100
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Price action reflects sustained lower highs and lows.
Bank Nifty
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Support: 55,950 / 55,784
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Resistance: 56,340 / 56,512
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Needs a close above 56,300 to reverse bearish sentiment.
Market Outlook
Key drivers for the remainder of the week:
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Crude oil price trend: Persistent highs could deepen market woes.
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Geopolitical headlines: Developments in West Asia will dictate risk appetite.
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FII/DII activity: Net FII outflows of ₹570 crore reported by midday.
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Global cues: US and European market trends will impact domestic sentiment.
Short-term strategies should favor stock-specific trades over index-wide positions, especially in defence, oil upstream, and select industrials.
Investor Caution
With the geopolitical climate and oil price dynamics so fluid, risk management is essential. Investors should:
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Stick to fundamentally strong names.
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Be wary of chasing momentum in overheated IPOs.
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Use strict stop-losses in trades.
For more detailed IPO data and grey market premium updates, see Moneycontrol IPO section
Final Takeaway
The Indian stock market today mirrored the global risk-off mood, with indices under pressure and sectoral churn in full swing. While large caps dragged indices down, selective strength in defence, oil upstream, and IPOs highlighted the importance of a focused, sector-specific strategy in turbulent markets.
