Stock Market Today: The Indian equity market is likely to continue its negative momentum on Tuesday, with Gift Nifty suggesting a gap-down opening. The negative sentiment among investors has intensified
as Tehran reportedly suspended talks with Washington in response to Israeli strikes in Lebanon, though Trump said negotiations are continuing.
As of 7:50 AM IST, the index was trading at 23,250, down 191.5 points or 0.82 per cent. The futures index opened at 23,432 and moved between a high of 23,517 and a low of 23,230 during early trade.
Earlier, crude oil prices jumped up to 8 per cent over reports that Iran is backtracking from the peace deal with the US over the fresh Israeli strikes against Iran-backed Hezbollah in Lebanon. The prices of crude cooled a bit after Trump remarked that he held a good and productive call with Israeli Prime Minister Benjamin Netanyahu and Hezbollah.
In a post on Truth Social, Trump said Israel and Hezbollah have agreed to stop the fighting.
“I had a very productive call with Prime Minister Bibi Netanyahu, of Israel, and there will be no Troops going to Beirut, and any Troops that are on their way, have already been turned back. Likewise, through highly placed Representatives, I had a very good call with Hezbollah, and they agreed that all shooting will stop — That Israel will not attack them, and they will not attack Israel,” he said.
Asian Market Trade Lower
Asian markets traded lower on Tuesday, while U.S. stock futures slipped as investors assessed mixed developments surrounding ceasefire efforts involving the United States, Iran, Israel and Hezbollah, fueling concerns over a possible escalation in Middle East tensions. Japan’s Nikkei 225 declined 1.06 per cent, while South Korea’s Kospi fell 0.63 per cent in early trade.
Market Ends Below 23,400 On Monday
The domestic equity market ended sharply lower on Monday after surrendering strong opening gains, with investors turning cautious amid escalating tensions in the Middle East, FII selling and uncertainty ahead of key domestic events, including the RBI policy decision and GDP data.
The Sensex settled at 74,267.34, down 508.40 points or 0.68%, while the Nifty 50 closed at 23,382.60, lower by 165.15 points or 0.70%.
The session was marked by a dramatic reversal. After opening in the green and touching an intraday high of 75,367.93, the Sensex plunged more than 1,100 points from its peak before trimming some losses towards the close. Similarly, the Nifty fell nearly 350 points from its day’s high of 23,733.70.
