Nifty, Sensex open flat on 29 June as US-Iran ceasefire tracked
Synopsis
Indian equities opened virtually unchanged on 29 June as the US-Iran ceasefire kept traders on edge. With Nifty hemmed between 23,800 and 24,250 and crude oil surging over 2 per cent, the session's direction hinges on geopolitical clarity — and a breakout above 24,250 could be the trigger markets are waiting for.
Key Takeaways
Nifty 50 opened at 24,061.75 , up 5.75 points (0.02%), on 29 June .
BSE Sensex started at 77,055.21 , down 45.26 points (0.06%).
Healthcare and pharma led gains; Nifty IT fell 0.58 per cent , the biggest sectoral loser.
Brent crude rose to $72.78/barrel ; WTI gained over 2 per cent to nearly $71/barrel .
Analysts peg the Nifty trading range at 23,800–24,250 ; a breakout above 24,250 needed for fresh upside.
Asian markets were mixed: Hang Seng up over 2 per cent , KOSPI and Nikkei both in the red.
Indian equity markets opened on a flat note on Monday, 29 June, as investors adopted a cautious stance while closely tracking developments around the US-Iran ceasefire and forthcoming diplomatic talks. The muted open reflected a broader wait-and-watch mood ahead of potential geopolitical shifts that could affect global energy supplies and risk sentiment.
Opening Levels
The Nifty 50 commenced trade at 24,061.75, up a marginal 5.75 points or 0.02 per cent. The BSE Sensex, however, edged slightly lower, opening at 77,055.21, down 45.26 points or 0.06 per cent. The near-flat open signals that neither bulls nor bears have a decisive edge at this stage.
Sectoral Movers: Healthcare Leads, IT Drags
Healthcare and pharma stocks emerged as the morning's outperformers. The Nifty Healthcare Index rose 0.53 per cent while Nifty Pharma advanced 0.52 per cent. FMCG also traded in positive territory, gaining 0.24 per cent.
On the other side, IT stocks faced selling pressure, with the Nifty IT index declining 0.58 per cent. Nifty Auto slipped 0.44 per cent and Nifty Oil & Gas fell 0.38 per cent. Among individual stocks, Kotak Mahindra Bank, InterGlobe Aviation (IndiGo), Mahindra & Mahindra (M&M), Infosys, HCL Technologies, and Tata Consultancy Services (TCS) featured among the top losers in the Nifty pack.
Technical Outlook: Consolidation Below Key Resistance
Market experts noted that momentum indicators point to consolidation with a positive bias. 'The technical setup remains constructive with a mildly bullish bias,' analysts said. However, they cautioned that the market is currently consolidating below a crucial resistance zone, and a decisive breakout above the 24,200-24,250 range will be necessary to revive stronger upside momentum.
Analysts expect range-bound trade with stock-specific action to dominate in the near term. The immediate trading range for the Nifty is pegged between 23,800 and 24,250, with a breakout on either side set to determine the next directional move.
Global Cues: Crude Rises, Asian Markets Mixed
Global cues added to the cautious mood. International benchmark Brent crude rose 1 per cent to $72.78 per barrel, while US West Texas Intermediate (WTI) crude gained more than 2 per cent to nearly $71 per barrel — a move linked to uncertainty around the US-Iran situation. Elevated crude prices typically weigh on India's import bill and inflation outlook.
Asian markets traded on a mixed note. Japan's Nikkei declined about 1 per cent, Hong Kong's Hang Seng jumped more than 2 per cent, and South Korea's KOSPI fell over 2 per cent. The divergence across Asian indices reflects differing exposures to geopolitical and trade risks. With the US-Iran diplomatic process still fluid, markets are likely to remain in a holding pattern until clearer signals emerge.
Point of View
Not a growth signal. The 24,200–24,250 resistance band has now rejected Nifty multiple times; until that zone clears, the bullish technical narrative remains aspirational. The bigger risk is that a breakdown in US-Iran talks could send crude sharply higher, compressing India's macro headroom precisely when rate-cut expectations are fragile.
NationPress
29 Jun 2026
Frequently Asked Questions
Why did Indian markets open flat on 29 June 2025?
Indian markets opened flat on 29 June as investors adopted a cautious stance while monitoring developments around the US-Iran ceasefire and upcoming diplomatic discussions. Uncertainty over the geopolitical outcome kept both buyers and sellers on the sidelines.
What were the Nifty and Sensex opening levels on 29 June?
The Nifty 50 opened at 24,061.75, up 5.75 points or 0.02 per cent, while the BSE Sensex started at 77,055.21, down 45.26 points or 0.06 per cent. Both benchmarks reflected a near-flat, cautious open.
Which sectors gained and which fell at the market open?
Healthcare and pharma led gains, with Nifty Healthcare up 0.53 per cent and Nifty Pharma up 0.52 per cent. FMCG also rose 0.24 per cent. On the downside, Nifty IT fell 0.58 per cent, Nifty Auto dropped 0.44 per cent, and Nifty Oil & Gas declined 0.38 per cent.
What is the Nifty trading range analysts are watching?
Market analysts have identified a trading range of 23,800 to 24,250 for the Nifty. A decisive breakout above 24,200–24,250 is seen as necessary to trigger stronger upside momentum, while a break below 23,800 could signal further weakness.
How did crude oil and Asian markets perform on 29 June?
Brent crude rose 1 per cent to $72.78 per barrel and WTI gained over 2 per cent to nearly $71 per barrel, driven by US-Iran uncertainty. Asian markets were mixed — Hong Kong's Hang Seng surged over 2 per cent while Japan's Nikkei and South Korea's KOSPI each fell around 1–2 per cent.
