Pre-Market 30 June: Sensex Drops 372 Points, Brent Climbs Above $73; Key Market Triggers For Tuesday

Monday's trade ended on a weak note as investors reacted to fresh developments in West Asia. The Sensex closed at 76,728.37, down 372.10 points, while the Nifty 50 slipped below the 24,000 mark to finish at 23,946.25, a decline of 109.75 points.

Why Did Markets Decline On Monday?

Fresh tensions in West Asia returned to the forefront after reports of renewed military action involving the US and Iran.

The developments pushed Brent crude higher, with the global benchmark rising 1.51% to $73.09 per barrel. A rise in energy prices typically remains a key concern for India because of its dependence on imports.

The rupee also weakened, ending 9 paise lower at 94.54 against the US dollar.

Apart from geopolitical concerns, traders remained cautious ahead of a busy week packed with domestic and global economic data releases.

How Did Global Markets Perform After Indian Market Hours?

Wall Street traded higher on Monday as investors welcomed signs that diplomatic efforts between the US and Iran were continuing despite recent hostilities.

On 29 June:

• Dow Jones Industrial Average rose 306.63 points to 52,182.74

• S&P 500 gained 86.41 points to 7,440.43

• Nasdaq Composite advanced 522.53 points to 25,820.14

Asian markets delivered a mixed performance.

• Nikkei 225 gained 107.23 points to 69,468.11

• Hang Seng rose 354.82 points to 23,026.68

• Singapore's Straits Times Index stood at 5,208.75, up 17.02 points

European markets were slightly lower during evening trade.

• FTSE traded at 10,484.22, down 23.80 points

• CAC stood at 8,367.33, lower by 17.54 points

GIFT Nifty Signals

By 21:24 IST on 29 June, GIFT Nifty was trading at 23,962.50, up 8.50 points, or 0.04%. The futures contract remained close to Monday's Nifty close of 23,946.25, indicating a largely flat start for Tuesday's session.

Key Levels To Watch For Nifty

The index is approaching an important support zone marked by its short-term moving averages.

Support Levels

• 23,850

• 23,800

Analysts see the 20-day and 50-day exponential moving averages in this zone as immediate support. A break below 23,800 could expose the index to further weakness towards 23,650.

Resistance Levels

• 24,070

• 24,100

Also Read - Market Wrap, 25 June 2026: Sensex And Nifty 50 Lose Some Momentum At Close

What Should Investors Expect Today?

The geopolitical situation remains on the radar. Market participants will track developments from the ongoing US-Iran discussions and any fresh updates related to the Strait of Hormuz.

Crude oil prices will continue to be watched closely after Monday's rise. Traders are also keeping an eye on monsoon progress, overseas fund activity and upcoming IPO-related developments.

For Nifty, the 23,850-23,800 zone remains important. The index slipped below 24,000 in the previous session, making this support area crucial for the near term.

Sources:

CNBC TV18

Reuters

The Hindu BusinessLine