Indian Stock Markets Face Turbulence Amid US-Iran Geopolitical Tensions

India's stock markets witnessed a sluggish opening on Friday in response to geopolitical tensions, following the United States' decision to end the sanctions waiver for Iran's Chabahar Port, effective September 29. This development dampened investor sentiment on early trading day.

The Nifty 50 index commenced trading at 25,365.20, experiencing a dip of 58.40 points or 0.23%, while the BSE Sensex began at 82,835.73, noting a decline of 178.23 points or 0.21%. Investors attributed the market pressure to the Trump administration's latest move, which repeals the special waiver granted to India in 2018 for operating at the Iranian port.

Meanwhile, Adani Group stocks surged after SEBI's decision on Thursday found no violations in allegations made by US short-seller Hindenburg. Despite the overall negative start, experts remain positive, citing strong tax revenues and planned government spending on infrastructure as potential market boosters. Additional optimism stems from global influences, such as potential US-China trade developments.

(With inputs from agencies.)