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Indian equity market is set to begin Wednesday’s session in a weaker note, with Gift Nifty trading 144 points or 0.61 per cent down in the morning session to 23,421.
On Tuesday, the benchmark BSE Sensex slipped 114.19 points, or 0.15 per cent, to close at 75,200.85 after moving between an intraday high of 75,746.27 and a low of 75,115.99. Meanwhile, Nifty 50 declined 31.95 points, or 0.14 per cent, to settle at 23,618.
Oil prices remained elevated to $110 per barrel on Wednesday as no near-sighted resolution of Iran-US war seems, with US President Donald Trump saying that efforts were underway to end the ongoing conflict involving Iran, while also warning that Washington could launch fresh strikes if negotiations failed.
Trump said Iran was eager
for a deal and predicted a sharp decline in global oil prices if an agreement was reached.
Indian equity markets are likely to begin today’s session on a cautious to bearish note, with Gift Nifty indicating a weaker opening near the 23,480 zone amid negative global cues and rising geopolitical uncertainty, according to Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth.
Ponmudi R, CEO of Enrich Money added that elevated energy prices remain a significant macroeconomic challenge for India, given the mounting pressure on inflation, import costs and broader economic stability.
