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NIFTY 

* Nifty came under pressure as geopolitical tensions between India and Pakistan intensified.

* Following an initial decline, the Nifty witnessed sharp swings in both directions before settling at the 24,008 level.

* In contrast, defense-related stocks such as Bharat Electronics and Hindustan Aeronautics outperformed, gaining on expectations of increased defense spending.

* Looking ahead, elevated geopolitical risks have significantly heightened market volatility, as reflected in the surge of the India VIX

BANK NIFTY

* The banking index extended its downward trajectory, closing with losses of over 1.4%.

* Most banking stocks showed mixed trends, except for Canara Bank, SBI, and Bank of Baroda, which posted gains of more than 1%. In contrast, ICICI Bank was the biggest loser, declining by over 3%.

* The market may witness further correction, with Bank Nifty likely to remain range-bound.

* A close above the recent high near 55,000 would indicate a continuation upward trend.

* On the downside, key support is expected AT 53,100 and 52,600, while intermediate resistance lies in the 54,100–54,700 range.

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