Sensex gains 100 points, Nifty 50 ends above 24,050 amid escalating US-Iran tensions

Stock market today: The Indian stock market ended in the green on Wednesday, July 15, with benchmark indices Sensex and Nifty 50 posting modest gains, while the mid- and small-cap indices gaining up to half a per cent amid escalating US-Iran tensions and rising crude oil prices.

The 30-share pack rose 130 points, or 0.17%, to close at 77,185.43, while the Nifty 50 ended at 24,078.50, rising 26 points, or 0.11%.

The Nifty Midcap 100 index ended 0.28% higher, while the Nifty Smallcap 100 index rose by 0.67%.

UltraTech Cement, Eternal, and HDFC Life Insurance Company ended as the top gainers in the Nifty 50 index, while Hindalco Industries, Power Grid Corporation of India, and Tata Steel ended as the top laggards in the index.

Among the sectors, Nifty PSU Bank (up 0.95%), Consumer Durables (up 0.73%), and Oil and Gas (up 0.69%) ended with healthy gains.

Nifty Bank climbed 0.51%, while the Financial Services index rose by 0.59%.

On the other hand, Nifty Metal cracked 1.11%. IT, FMCG, Media, and Realty indices fell 0.67%, 0.49%, 0.46%, and 0.38%, respectively.

Investors wealth grew by about ₹1.5 lakh crore in a session as the overall market capitalisation of BSE-listed firms rose to ₹481 lakh crore from ₹479.5 lakh crore in the previous session.

Meanwhile, as per reports, US military carried strikes against Iran for a fourth consecutive day on Tuesday (local time) and reimposed a naval blockade to prevent ships from sailing to or from the country's ports.

Brent crude September delivery jumped over 1% higher to trade near $86 per barrel.

The rupee closed at 96.2550 per dollar against its previous session close of 96.20.

What moved the market today?

Let's take a look at five key factors that moved the domestic stock market on Wednesday:

1. Soft US inflation data

Perhaps the biggest reason behind the market rise today. Soft US inflation data influenced sentiment globally as it made market participants dial back expectations of aggressive rate hikes by the US Federal Reserve this year.

US Consumer Price Index (CPI) inflation eased to 3.5% in June 2026 from 4.2% in May. Month-on-month, the US CPI declined 0.4%, the first decline since the COVID-19 pandemic (April 2020), after increasing 0.5% in May.

Annualised core inflation, or inflation excluding the volatile food and energy components, increased by 2.6% year-on-year compared with expectations for 2.8%, and after rising 2.9% year-on-year in May.

Markets across the globe cheered US June CPI data. Among Asian markets, South Korea's Kospi jumped 8%, while Japan's Nikkei 225 index and Hong Kong's Hang Seng index traded higher.

2. Trump withdraws the proposed transit fee

A day after announcing a 20% transit fee through the Strait of Hormuz, US President Donald Trump dropped his demand for the toll on Tuesday. Instead, he said he has decided to replace it with trade and investment deals that the various Gulf states. Moreover, he declared the ​Strait ⁠of Hormuz was open to all ships except for Iran.

3. The updated Russia sanctions bill

U.S. senators unveiled an updated Russia sanctions bill on Tuesday, which cuts the tariff threat for countries like China and India, who import of Russian oil and gas, from originally proposed 500% to 100%.

The bill authorises the Trump administration to impose tariffs set at a rate above zero but capped well below full value on countries identified as the largest buyers of Russian oil.

4. Value buying in financials, auto counters

Experts say value buying in banking, financials, and auto stocks amid expectations of healthy Q1 earnings is also among the key reasons why the stock market is rising today.

"Q1 results of leading banks, NBFCs and auto stocks will be good. Digital platform companies are likely to report good growth numbers,” VK Vijayakumar, Chief Investment Strategist, Geojit Investments, noted.

"From a medium-term perspective, the risk-reward appears favourable. The recent rebound itself is evidence of how quickly sentiment can shift once valuations become attractive," Ashutosh Tiwari, MD and CIO- Public Equities, Equirus Asset Management, told Mint.

5. Technical factor

Nifty has a crucial support at 24,000. The index rebounded today after closing at 24,052 in the previous session.

Rajesh Palviya, the head of research at Axis Direct, pointed out that 24,000, which coincides with the 20-day moving average, is a crucial support, and a decisive breach may accelerate weakness towards 23,900-23800. He, however, added that the 24,200 level continues to be the immediate hurdle, and a sustained move above it could pave the way towards 24,350–24,500.

As per Sachin Gupta, VP – Research, Technical Research, at Choice Broking, the immediate trading range for the Nifty is expected between 23,900 and 24,250.

"On the upside, a decisive move above 24,250 could open the path towards 24,400–24,500, while on the downside, a breach below 23,900 could drag the index towards the crucial 23,800–23,700 support zone. Given the overall sideways bias, the index is likely to remain confined within this band unless a fresh catalyst emerges," said Gupta.

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Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.