Share Markets Manage Slight Recovery, Benchmarks Sensex, Nifty Still End In Red

Mounting geopolitical tensions have cast a shadow over global financial markets as trading resumed on Monday, dampening investor sentiment and sparking volatility in Indian equities. The escalation in conflict between Israel and Iran took a fresh turn after the United States launched an attack on Iran's nuclear facilities on Saturday, intensifying concerns across the world’s trading floors.

Prior to trading, indications from GIFT Nifty, which was trading marginally lower at 24,998.50 as of 8:52 AM, suggested a cautious start. In pre-open trade, the Sensex tumbled more than 700 points, briefly touching 81,700, while the Nifty dropped over 170 points, falling to 24,940.

By 9:44 AM, the negative momentum deepened with the Sensex plunging close to 750 points, trading around 81,650, while the Nifty dropped by 241 points to hover near 24,871.

However, nearing the closing bell, both benchmarks managed to recover some of the losses made in the morning. The Sensex settled for the day at  
81,897, taking a hit of a little over 500 points, while the Nifty closed trading at 24,972, declining nearly 150 points.

On the 30-share Sensex, Trent, Bharat Electronics, Bajaj Finance, Kotak Mahindra Bank, and Bajaj Finserv emerged among the gainers. Meanwhile, the laggards were dominated by HCL Tech, Infosys, L&T, M&M, and Hindustan Unilever.

In the broader markets, it was a mixed result among the indices. The Nifty Smallcap250 led in green and climbed 0.77 per cent in the session, while the Nifty100 settled 0.45 per cent lower. Sectorally, the Media index stood apart and soared more than 4 per cent in the session. On the other hand, the IT index ended 1.48 per cent down.

Also Read : How To Get A Personal Loan Using Your Aadhaar Card: A Complete Step-By-Step Guide

Soaring Oil Prices, Strait Of Hormuz Crisis

Meanwhile, rising oil prices added another layer of concern for traders. With heightened tensions around the crucial Strait of Hormuz shipping route, oil prices have edged higher, further complicating the outlook for global markets.

Market participants expect volatility to persist throughout the week as geopolitical developments continue to dictate sentiment. Traders remained on edge as they closely monitored the evolving situation in the Middle East for further cues. Meanwhile, Israel launched another attack on the Fordow nuclear site in Iran, according to a spokesperson for the Crisis Management Headquarters in Qom Province, as reported by the semi-official Tasnim news agency.

Notably, in the previous trading session on Friday, the BSE Sensex surged 1,046.30 points, or 1.29 per cent, to close at 82,408.17. The NSE Nifty followed a similar trajectory, advancing 319.15 points, or 1.29 per cent, to settle at 25,112.40. 

business