Indian Markets Rise Amid Middle East Geopolitical Tensions
Indian stock markets opened positively on Tuesday, buoyed by domestic optimism, but geopolitical tensions in the Middle East, especially between the US and Iran, are causing investor apprehension. The Nifty and Sensex indices saw modest gains, while mixed global cues and potential market resistance levels warrant caution.
- Country:
- India
On a cautiously optimistic Tuesday, Indian stock markets opened on a high note, extending gains from the previous session. Geopolitical tensions in the Middle East, particularly the strained US-Iran relations, are looming large, keeping the global investor community wary. The Nifty 50 started at 24,977.85, marking a 0.13% rise, while the BSE Sensex opened at 81,869.47, up by 0.10% in the early trade.
Market analyst Ajay Bagga noted that while the positive momentum might continue, the evolving US-Iran dynamic could become a pivotal concern. Despite the US markets closing higher after hints of peace through Arab mediators, an early departure by Trump from the G7 summit and subsequent escalations have added a layer of uncertainty. Speculations about a potential strike on key Iranian sites have left markets in a wait-and-see mode.
Domestically, the market indices are thriving with the Nifty Midcap 50 leading the charge. Sectoral indices mostly saw gains except for Nifty FMCG, Metal, and Pharma. Nifty Auto ascended by 0.17%, while Nifty Media outperformed with a 0.62% rise. Akshay Chinchalkar from Axis Securities observed the bullish trend, identifying key resistance and support levels and noting that mixed global signals could influence market openings in the days to come.
(With inputs from agencies.)
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