Mumbai, June 16 - The Indian stock market is bracing for volatility today due to escalating geopolitical tensions in West Asia. Investor anxiety is heightened following recent missile attacks and airstrikes between Iran and Israel.
The GIFT Nifty showed a slightly positive start at 8:12 AM, trading at 24,807, up 57.50 points or 0.23%. This follows a turbulent Friday where Indian indices experienced a sell-off.
The BSE Sensex closed at 81,118.60, down 573.38 points or 0.70%. The Nifty 50 ended at 24,718.60, down 169.60 points or 0.68%. Global equities also saw significant losses.
The US markets closed in the red, with the Dow Jones Industrial Average dropping 769.83 points or 1.79%. The S&P 500 shed 1.13%, and the Nasdaq Composite declined 1.30%. Safe-haven buying boosted oil and defense stocks.
Sugandha Sachdeva, Founder of SS WealthStreet, noted that geopolitical tensions in the Middle East will clash with potentially supportive global monetary policy signals and easing trade tensions.