Indian equity benchmark indices, the Sensex and Nifty, started the trading session in the red today as persistent geopolitical tensions in the Middle East continue to restrain risk appetite even as Brent crude is steady near USD 89 a barrel. While the 30-share BSE Sensex dropped 116.33 points or 0.14 per cent to start the session at 77,892.92, the Nifty opened with a fall of 22.55 points to 24,343.45. In the last trading session, the Sensex closed at 78,009.25 and the Nifty 50 at 24,366. Similarly, the broader indices traded in the red in the early trading session. While the BSE Midcap Select Index fell 60.11 points, the BSE Smallcap Select Index fell 0.17 points, or 0.08 per cent, to 9,087.10.
In early trade, market breadth was positive, with 1,319 stocks advancing against 1,278 stocks declining on the NSE. 128 stocks remained unchanged.
"Investor caution remained elevated as the U.S.-Iran diplomatic impasse showed little sign of resolution. Continued uncertainty surrounding the Strait of Hormuz, coupled with slowing tanker traffic through the strategic shipping corridor, has renewed concerns over potential energy supply disruptions and kept risk appetite subdued. With the current U.S.-Iran memorandum nearing expiry and negotiations making little progress, geopolitical developments continue to dominate market sentiment," said Ponmudi R, CEO of Enrich Money.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
