Israel-Iran war likely to weigh on Indian markets this week
Escalating tensions between Israel and Iran are expected to weigh on Indian markets in the near term, mainly driven by a rise in energy prices, analysts said on Sunday.
Escalating tensions between Israel and Iran are expected to weigh on Indian markets in the near term, mainly driven by a rise in energy prices, analysts said on Sunday.
The fall in the market was witnessed amid volatility led by concerns over rising geopolitical risks, FII selling, and weak Asian markets.
At 1200 hours the Market benchmark BSE Sensex was running at 40,057.39 over 200 points or 0.57 per cent from its previous close of 39,831.84
Sensex managed to close 140 points higher on Wednesday amid record volatility as fresh nervousness gripped the market ahead of the general election results.
The rupee rose to a two-week high of 69.36 against the US dollar, as compared to its Friday’s close of 70.23.
The benchmark Sensex fell up to 450 points. The Nifty50 of the National Stock Exchange (NSE) opened at 11,605.80 after closing at 11,712.25 on Friday.
The Nifty traded at 10,921.30 during the morning trade session, up 71.50 points and 0.66 per cent.
Investors also turned jittery a day after Reserve Bank of India (RBI) governor Urjit Patel resigned in a surprise move.
Meanwhile, the Indian rupee slipped in the early trade on Monday and opened lower by 54 paise at 71.34 per dollar against previous close 70.80.
Taking a cue from global markets, the key Indian equity market indices opened higher on Friday.
