Israel-Iran war: Indian benchmark indices – Sensex and Nifty 50 – bounced back from early losses to trade in positive territory on Wednesday, driven by financial and auto stocks, despite cautious global sentiment due to escalating tensions in the Middle East and elevated crude oil prices.
Around 9:43 am, the BSE Sensex climbed 264 points, or 0.33%, to reach 81,854, while the Nifty50 advanced 81 points, or 0.32%, to 24,932. The Sensex saw a strong recovery, surging 550 points from its intraday low of 81,304.
According to market experts, the Indian market appears to have largely discounted the Israel-Iran tensions, with Monday’s positive close reflecting investor focus shifting back to domestic fundamentals.
“ While oil and geopolitical risks remain on the radar, the Nifty’s resilience amid global unease suggests the conflict is being viewed as a short-term event rather than a structural threat and investors are focusing on Long term story of the Indian economy which remains intact and every dip is viewed as a buying opportunity,” said Sourav Choudhary, MD, Raghunath Capital.
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