Stock Market Opens Higher Amid Global Jitters; Middle East Tensions Loom Large

Indian equity markets kicked off Tuesday’s session on a positive note, extending the upward trend from the previous trading day. However, global investor sentiment remains fragile due to rising geopolitical strains in the Middle East, which could potentially disrupt the current momentum.

The Nifty 50 began the day at 24,977.85, marking an increase of 31 points or 0.13 per cent, while the BSE Sensex climbed 79 points to open at 81,869.47, reflecting a 0.10 per cent gain.

On the domestic front, mid- and small-cap indices showed strength. The Nifty Midcap 50 led sectoral gains, while the Nifty 100 edged up 0.13 per cent, and the Nifty Smallcap 100 saw a 0.15 per cent uptick.

Among sector-specific indices, most opened higher except Nifty FMCG, Nifty Metal, and Nifty Pharma. Nifty Auto rose by 0.17 per cent, and Nifty Media outperformed with a 0.62 per cent surge.

Key Technical Levels Watched Closely

VK Vijayakumar, Chief Investment Strategist, Geojit Investments, said, "Despite the escalation of the Iran-Israel conflict globally stock markets are steady and resilient. The decline in the US volatility index CBOE suggests that markets are unlikely to correct sharply unless the conflict takes a dramatic turn for the worse. The main contributor to the market resilience is the retail investors using every dip in the market as a buying opportunity. Valuations do not appear to deter retail investors."

"During the last 4 trading days after the conflict started FIIs sold stocks for Rs 8080 crores. This FII selling has been completely eclipsed by DII buying of Rs 19800 crores. Sustained retail funds flows, mainly through SIPs, are empowering the DIIs to buy consistently. Nifty has support at 24500 level and is likely to face resistance at 25000 level. Even while exercising some caution, it makes sense to remain invested in this market and to buy the dips," he added.

Asian Markets Show Mixed Signals

Across Asia, most equity benchmarks opened higher. Japan’s Nikkei 225 gained 0.49 per cent, Singapore’s Straits Times rose 0.43 per cent, Taiwan’s weighted index increased 0.7 per cent, and South Korea’s KOSPI advanced 0.36 per cent.

Conversely, Hong Kong’s Hang Seng and China’s Shanghai Composite were trading in the red at the time of reporting, reflecting broader uncertainty in the region.

business