India’s stock markets experience declines as US-Iran tensions weigh on investor sentiment, raising concerns about crude oil prices and inflation. Foreign Institutional Investors offload equities, contributing to market weakness.
The Indian stock market witnessed a significant surge, with the Sensex rising over 1,695 points to close at 75,527.95, while the Nifty50 jumped over 461 points to end the session at 23,622.90. Nifty has formed a solid base, repeatedly taking support near the 61.8% Fibonacci retracement level of its previous upmove.
The Indian IT sector has been hit hard by the latest AI disruption, with stocks plummeting 2.7% and the benchmark Nifty50 ending 0.2% lower. Analysts warn of ongoing structural challenges and headwinds like AI disruption and rate hikes in the US.
