Indian Markets are set to Open Lower as Geopolitical Uncertainties rise!
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.
Market Update at 8:20 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.
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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.