Benchmark indices erased early losses but still ended lower by over half a percent on June 23, as escalating geopolitical tensions in the middle-east weighed on equities and businesses dependent on crude oil after prices stayed above $78 per barrel over looming risk to the Strait of Hormuz, with Nifty 50 index ending below the 25,000 level.

After opening sharply lower, markets extended the fall in the initial hours, but a recovery in metal stocks, as well as small and midcap indices helped recoup early losses. At close, the Sensex was down 511.38 points or 0.62 percent at 81,896.79, and the Nifty was down 140.50 points or 0.56 percent at 24,971.90. The broader indices outperformed the main indices with BSE midcap index rising 0.2 percent and smallcap index adding 0.6 percent.

Trent, Bharat Electronics, Hindalco Industries, Adani Enterprises, Bajaj Finance were among major gainers on the Nifty, while losers were Infosys, Larsen and Toubro, Hero MotoCorp, Mahindra and Mahindra, HCL Technologies.

On the sectoral front, IT, FMCG, Auto, Bank, telecom down 0.3-1.5 percent, while Consumer Durables, media, metal, capital goods up 0.3-4 percent.

Northern Arc Capital shares jumped 8% as Madhusudan Kela's fund bought stake, Bharat Electronics' shares hit fresh high on orders win, Zee Entertainment shares gained 11 percent on initiatives to boost growth and Zen Technologies added 5% as it stepped into UAV space with TISA Aerospace buy.

Nearly 100 stocks on the BSE touched their 52-week highs, including Garden Reach Shipbuilders, Poonawalla Fincorp, Narayana Hrudayalaya, Bharat Electronics, MCX India, Aditya Birla Capital, Authum Invest, among others.