Indian equity markets traded largely flat in early trade on Tuesday after fresh US strikes in southern Iran targeted missile launch sites and boats allegedly attempting to lay mines, raising concerns over rising geopolitical tensions in West Asia.
The BSE Sensex slipped around 150 points to trade near 76,339, while the NSE Nifty declined nearly 45 points to hover around 23,986 during morning trade.
The benchmark indices had opened marginally lower amid cautious investor sentiment.
Despite the subdued market mood, several sectoral indices traded in positive territory. IT, chemicals, media, PSU banking and metal stocks witnessed buying interest. Nifty IT gained more than 0.6 per cent, while chemical and media indices also posted modest gains.
On the other hand, consumer durables, healthcare, cement and real estate sectors remained under pressure, with Nifty Consumer Durables emerging among the worst-performing indices in early trade.
Among individual stocks, InterGlobe Aviation (IndiGo), SBI Life Insurance, Titan Company, Bharti Airtel, Max Healthcare and Trent traded lower.
Broader markets showed resilience, with small-cap and mid-cap indices outperforming the benchmark indices.
India VIX, the market’s volatility indicator, also declined, signalling limited panic among investors despite the geopolitical uncertainty.
Analysts said investors remain cautious after the latest US strikes in Iran, though markets are not expecting a major military escalation.
Experts added that easing tensions and softer crude oil prices continue to support investor sentiment, while the previous session’s rally reflected confidence in the domestic economy.
Crude oil prices moved higher, with Brent crude rising above $98 per barrel and WTI crude nearing $94 per barrel.
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