The rookie point guard had seven points, eight assists, six rebounds and three steals in his first career start, and his first regular-season game in his hometown. Conley, who played at Lawrence North High School, was the No. 4 pick in the draft after playing one year at Ohio State.
"It's a dream come true for me to be here, playing in the NBA already," he said. "It was good to come back and play here in front of my friends and family."
The win snapped a five-game losing streak for the Grizzlies.
"The win is the cherry on top," Conley said. "I don't care about how many points or assists I had if we lose a game."
Memphis coach Marc Iavaroni said Conley played well.
"I thought for his first NBA start, he did a very nice job," he said. "It just seemed like he was in command of the offense."
Pau Gasol had 30 points and 12 rebounds, Rudy Gay scored 24 points and Mike Miller had 19 points and 11 rebounds as the Grizzlies extended Indiana's losing streak to five games. It was Memphis' fourth road win in 15 tries this season and its first win at Conseco.
"We were due," said Iavaroni, in his first season with the Grizzlies. "I've had certain things to inherit, and that was one of them."
Conley's reward for his effort is a start Friday in Boston.
"You get a small window for opportunities, and you've got to take it sometimes," he said. "I try to make the best of this opportunity I have right now."
Indiana had scored at least 90 points for 25 straight games, but the Pacers shot a season-low 31 percent. It was their lowest field-goal shooting at Conseco Fieldhouse since it opened in 1999.
"We played very bad tonight," Indiana guard Marquis Daniels said. "We struggled from the get-go. We've got to pull ourselves together and play like the basketball team we used to be."
It was the fewest points Memphis has allowed this season and by far the lowest field-goal rate by a Grizzlies opponent.
"Frankly, they're not going to shoot that way every night," Iavaroni said. "It wasn't all us, they had a rough night shooting. I'd like to think we had something to do with that."
Indiana point guard Jamaal Tinsley missed his third straight game with a sore left hamstring, and the Pacers have lost them all. He last played on Dec. 28 against Detroit.
Indiana led 44-40 late in the first half before Gay made a 3-pointer with 1.6 seconds left to make it 44-43. The Pacers turned the ball over and gave Memphis the ball under its basket and a chance to take the lead, but Gasol's mid-range jumper missed as time expired.
Memphis opened the second half on a 12-2 run to take a 55-46 lead.
After Indiana cut the deficit to 57-53, Conley made a jumper and layup during a 6-0 run that gave Memphis a 63-53 lead and forced Indiana to call timeout. The Pacers closed the third quarter on a 6-1 run to cut their deficit to 71-63.
Memphis slowly stretched the lead in the fourth quarter and led by 18 points in the period. The Pacers were held to nine points and shot 3-for-17 in the final quarter.
The nine points were the fewest the Pacers have scored in a fourth quarter since joining the NBA in 1976.
"Every loss is disturbing and painful," Indiana coach Jim O'Brien said. "We have to figure it out. Anytime you lose five in a row, you take a step back."
Memphis hopes the win sparks a long-term change.
"It's a good way to start off a year," Gasol said. "We want to continue with this kind of attitude, work and effort."
Indiana C David Harrison sat out with a sore back. ... Only three Memphis players scored in the first quarter -- Gasol, Miller and Gay. ... Indiana outrebounded Memphis 31-22 in the first half. ... Memphis snapped a three-game losing streak in the series. ... Indiana guard Andre Owens had 11 points after posting a career-high 15 points in a loss at Charlotte on Monday. ... Memphis assistant coach Johnny Davis was an assistant for the Pacers last season.