Indian Markets Open in the Red with Nifty and Sensex plummeting by around 0.9 per cent!
India VIX, the market's volatility gauge, spiked 5.23 per cent, rising above the 14 mark—signaling increased nervousness among traders.
Market Update at 9:55 AM- Indian equities opened on a weak note, with the Nifty 50 down 0.94 per cent and the Sensex falling 0.95 per cent. In the broader market, the Nifty Midcap slipped 0.38 per cent while the Nifty Smallcap declined 0.15 per cent.
India VIX, the market's volatility gauge, spiked 5.23 per cent, rising above the 14 mark—signaling increased nervousness among traders.
Nifty Media was the only sector trading in the green, while Nifty IT, Auto, and FMCG led losses across the board.
Within the Nifty 50, Bharat Electronics Ltd and Nestle India Ltd were the only gainers, with the rest in the red. Infosys, Shriram Finance, and M&M were among the Top Losers.
Market breadth remained weak, with 791 advancing stocks and 1,630 declining on the NSE, reflecting a broadly bearish sentiment.
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Market Update at 8:10 AM- The GIFT Nifty slipped below the 25,000 mark, trading at 24,994—down 134 points from its previous close—signalling a weak opening for Indian markets on Monday, June 23.
On Friday, the Indian stock market closed in the green, with the Nifty 50 surging over 1.29 per cent or 319.15 points closing at the 25,112.40 mark. The Sensex jumped by 1.29 per cent or 1046.3 points, to close the day above 82,408.17.
Asia-Pacific markets traded mixed on Friday as China left its benchmark rates unchanged and investors closely watched the escalating conflict between Israel and Iran.
Geopolitical concerns deepened after U.S. President Donald Trump confirmed that the U.S. had joined Israel in striking Iran’s nuclear sites, describing the facilities as “completely and fully obliterated.” Tehran has vowed retaliation, including potential moves to disrupt the strategic Strait of Hormuz, escalating tensions across the region.
Oil prices surged on supply concerns, with Brent crude rising 3.17 per cent to USD 79.45 per barrel and WTI climbing USD 3.18 to USD 76.19 as of 6:27 p.m. ET. The U.S. dollar also firmed slightly to 99.02, reflecting safe-haven demand amid market uncertainty.
On the institutional front, Foreign Institutional Investors (FIIs) were net buyers on Friday, purchasing Rs 7,940.70 crore worth of equities, while Domestic Institutional Investors (DIIs) booked profits, selling shares worth Rs 3,049.88 crore.