Domestic stock markets began Tuesday’s session on a weak footing, with benchmark indices slipping in early trade as investors remained wary of escalating tensions involving the United States and Iran.
The BSE Sensex dropped over 300 points, touching an intraday low near 76,973, while the Nifty 50 fell below the 24,000 mark during initial trading hours.
Selling pressure was visible across several key sectors. Banking stocks, along with pharma, healthcare, and FMCG shares, were among the biggest drags on the market. On the other hand, pockets such as mid- and small-cap IT, telecom, realty, and consumer durables managed to post gains.
Among individual stocks on the Nifty, companies including Bajaj Auto, Axis Bank, HDFC Life, and Trent featured among the notable losers in early deals.
Despite the weakness in frontline indices, the broader market showed relative strength. Indices tracking small-cap, mid-cap, and micro-cap stocks edged higher, indicating selective buying interest beyond large-cap counters.
The session began with the Sensex opening above 77,000 and the Nifty starting just above 24,000 before drifting lower.
Market analysts noted that the Nifty continues to move within a narrow band, with immediate support seen around 23,700–23,800 and resistance near 24,200–24,300. A stronger upward trend may only emerge if the index decisively crosses higher levels.
Global cues remained uncertain, with traders closely monitoring developments in the standoff between Washington and Tehran.
Reports suggest that US President Donald Trump has expressed dissatisfaction with Iran’s recent proposal, citing concerns over its nuclear programme. Discussions with senior security officials have so far not led to a breakthrough.
There are indications that Iran may consider reopening the strategically important Strait of Hormuz if hostilities ease and restrictions are lifted. This move could affect global energy flows.
In commodities, crude oil prices moved higher. Brent rose above $109 per barrel, while US WTI gained over 1 per cent. The increase reflects supply concerns linked to the region.
Across Asia, markets showed mixed trends. Japan’s Nikkei declined, South Korea’s Kospi advanced, while Hong Kong’s Hang Seng traded lower.
Overnight, US equities ended slightly positive, with both the S&P 500 and Nasdaq registering modest gains.
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