Indian equities weakened on 17 June as renewed missile strikes between Israel and Iran and a rebound in crude prices sapped risk appetite. The S&P BSE Sensex lost about 400 points to trade near 81,700, while the NSE Nifty 50 slipped below 24,850 after briefly defending the 24,900 mark. Energy-sensitive sectors lagged after Brent crude reversed an earlier 1.6 % overnight drop, adding to inflation concerns. Defensive positioning lifted military suppliers, with Mazagon Dock Shipbuilders and Bharat Dynamics gaining as much as 5 % intraday. The decline in Mumbai contrasted with trading in Tel Aviv, where Israel’s main equity gauges extended gains to fresh record highs despite five consecutive days of hostilities. Analysts said the divergence highlights investor confidence in domestically focused Israeli companies. Traders see 24,800 on the Nifty as key short-term support and warn that a decisive breach, coupled with further escalation in the Middle East, could accelerate foreign outflows from Indian assets.