Indian equities opened sharply lower on Monday after the United States bombed three Iranian nuclear sites over the weekend, escalating the conflict in West Asia and sending global investors into risk-off mode. The benchmark BSE Sensex slumped as much as 816 points, or about 1%, to 81,592.17 in early trade, while the NSE Nifty 50 fell to 24,929.55, breaking below the 25,000 mark for the first time in a week. Losses were broad-based: all 13 sectoral indices slipped at the open, with information-technology and automobile shares leading declines. By mid-session the Sensex was still down roughly 650 points and the Nifty hovered just under 25,000, even as metal and select mid- and small-cap counters trimmed some of the damage. Volatility ticked higher, with the India VIX rising about 5% to 14.04, and the rupee weakened 0.2% to 86.76 per US dollar. The sell-off tracked declines across Asian markets as Brent crude spiked to a five-month high near US$81 a barrel on fears of supply disruptions through the Strait of Hormuz. Analysts warned that a prolonged conflict could spur further oil-price gains and reignite inflation pressures, but noted that domestic institutional investors and pockets such as defence stocks were providing limited support. Traders see 24,800 on the Nifty and 81,680 on the Sensex as the next technical support levels should geopolitical tensions intensify.
#MarketsWithBS | #DefenceStocks look promising due to the ongoing geopolitical tussle between Iran and Israel; moreover, the Indian government is likely to enhance defence spending over the next decade. #StockMarketIndia #stockmarketnews #sharemarket https://t.co/zC01ZInROH
#MarketsWithBS | SMIDs show resilience as benchmarks slide amid geopolitical tensions #Stocks #markets #stockmarketindia #stockmarketnews #sharemarket #USIranTensions #GlobalTrade | @KGaurav2806 https://t.co/hXYLeBgdZe
#MarketsWithMC | Sensex down 650 pts, Nifty tests 24,950 amid geopolitical tensions; IT, auto lead losses; broader mkts outshine 📊 #Sensex #Nifty #IT #Markets More details👇 https://t.co/hFT56Xz7vf