Sensex rises over 150 points, Nifty above 23,900 as investors weigh Iran tensions, weak monsoon concerns

Sensex rose over 150 points with Nifty 50 trading above 23,900, led by gains in Kotak Mahindra Bank, Adani Ports, and Titan of over 1% each, while HDFC Bank and Bajaj Finserv declined nearly 1%. The session was influenced by simmering Iran-US tensions that pushed Brent crude above $73 per barrel, alongside concerns over a weak monsoon with June ending at a 40% rain deficit and the IMD forecasting below-normal July rainfall. Technically, Nifty faces resistance at its 100-DMA of 24,130 with support at the 21-DMA of 23,690, with analysts advising a buy-on-dips strategy and a rotation toward monsoon-proof sectors like healthcare, pharma, and power.