Cautious Open for Indian Markets Amid US-Iran Tensions

Indian stock markets began trading on Thursday with caution, as investors navigated weak global cues and escalating geopolitical tensions between Iran and the United States. This sentiment kept domestic indices in check during the early hours of trade.

The Nifty 50 index initially rose by 23.05 points or 0.09%, opening at 25,164.45, with the BSE Sensex increasing by 56.53 points or 0.07% to start at 82,571.67. Market expert Ajay Bagga highlighted the geopolitical concerns, noting that both the US and Iran have adopted tough stances ahead of crucial weekend talks, amid fears of an Israeli strike on Iran.

Despite a slight rise in headline indices, the broader market sentiment was subdued. The Nifty Next 50 slipped by 0.02% shortly after opening. The Nifty Smallcap index fell by 0.05%, and the Nifty Midcap declined by 0.06%, reflecting broader market pressure. Sector performance showed mixed results, with most indices in the red, except for Nifty Media and Nifty Pharma which remained positive.

Nifty IT fell 0.43%, Nifty Realty dropped 0.21%, and Nifty Metal decreased by 0.25%, while the Nifty FMCG index traded flat. Axis Securities' Head of Research Akshay Chinchalkar pointed out the technical market patterns, indicating potential support and resistance zones for the Nifty.

Other Asian markets showed mixed results; Japan's Nikkei 225 dropped 0.5%, Hong Kong's Hang Seng fell 0.56%, and Taiwan's Weighted index decreased by 0.8%. However, South Korea's Kospi index offered some positive sentiment, gaining 0.9% amid overall caution in Asian trading. (ANI)

(With inputs from agencies.)