Geopolitical storms in the Middle East triggered a sharp selloff in Indian equities as markets opened Monday. Heightened US-Israel tensions with Iran, including the reported deaths of Iran’s supreme leader and top commanders, sent investors fleeing to safety.
The benchmark Sensex opened down 1,000 points, while Nifty tumbled 300 points. At around 9:25 AM, Sensex stood at 80,244.09, off by 1,043 points or 1.28%. Nifty was at 24,868.95, down 310 points or 1.23%.
No Nifty sector was spared—all traded in negative territory. Sensex’s 30 components saw universal declines except BEL. Midcap and smallcap indices bled more profusely, down 1.36% and 1.86% respectively.
Realty sector nosedived over 2%, with media close behind. Metals bucked the trend marginally, limiting losses to emerge as relative outperformers.
President Trump’s pledge to avenge US troop deaths in Iranian reprisals has markets bracing for extended conflict. This uncertainty crushed risk assets globally, boosting gold and silver prices sharply.
Analyst Hitesh Tayal from Choice Equity flags immediate Nifty hurdles at 25,600-25,650, backed by 25,300-25,350 support. RSI neutrality at 47.11 suggests indecision.
FIIs dumped Rs 3,465 crore worth of stocks last Friday, but DIIs scooped up over Rs 5,000 crore, marking three days of buying.
In choppy waters, discipline is key, say pros. Focus on quality names amid the pullback. A sustained Nifty move past 25,800 could signal the all-clear for fresh bullish bets, restoring market confidence.