Sensex, Nifty Slide as Global Risks Spark Indian Market Selloff
Sensex, Nifty Slide as Global Risks Spark Indian Market Selloff
Indian stocks open lower as global tensions and energy disruptions weigh on sentiment, with Sensex and Nifty sliding as markets digest Middle East risk.
Indian equity benchmarks Sensex and Nifty look set for a fresh selloff as trading resumes after the Holi holiday.
A string of global risk factors is weighing on sentiment: QatarEnergy LNG production halt and a shutdown at a Saudi Aramco refinery, along with disruptions to trade flows through the Strait of Hormuz, have pushed crude prices higher and fanned inflation fears.
As traders digest these developments, the immediate technical picture points to a fragile opening, with near-term supports for the Nifty around 24,600. If panic selling intensifies, the 24,200-24,000 zone could come into view.
At the market open, Gift Nifty was down about 568 points, or 2.27%, quoted around 24,424 at 8:16 am.
Overnight, US indices including the Dow Jones and the S&P 500 closed lower, with losses of up to around 0.9% as risk-off sentiment intensified.
Market participants will monitor oil prices, currency moves, and any evolving developments in the region for the next directional cue.
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