Nifty slips, Sensex ends marginally higher as fresh US-Iran tensions weigh on investor sentiment
Mumbai, June 10
Indian equity markets ended on a mixed note on Wednesday, with the Nifty 50 closing in the red while the BSE Sensex managed a marginal gain, as renewed tensions between the United States and Iran kept investors cautious.
The Nifty 50 index closed at 23,216.45, down 27.15 points or 0.12 per cent. The BSE Sensex settled at 73,983.18, gaining 64.42 points or 0.09 per cent.
Market experts said investor sentiment remained subdued amid fresh geopolitical concerns in the Middle East, which overshadowed positive momentum seen during the first half of the trading session.
Ponmudi R, CEO of Enrich Money, a SEBI-registered online trading and wealth-tech firm, said, "Indian equity markets ended modestly lower as renewed hostilities between the United States and Iran unsettled investor sentiment and revived concerns over the durability of the fragile ceasefire."
"The Nifty traded positively through much of the first half before surrendering gains later in the session, as geopolitical uncertainty continued to limit risk appetite and cap any meaningful recovery. Sectoral performance was mixed, with banking, financial and FMCG stocks providing support, partially offsetting broader weakness across the market," he added.
On the sectoral front, most NSE indices ended lower. Nifty Media emerged as the worst-performing sector, declining 2.36 per cent. Nifty PSU Bank fell 1.39 per cent, while Nifty IT declined 0.83 per cent and Nifty Auto lost 0.74 per cent.
Nifty FMCG was the only major sectoral index to close in positive territory, ending with gains of more than 1 per cent and helping limit the broader market decline.
Meanwhile, crude oil prices remained under pressure. Brent crude was trading at USD 91.33 per barrel, down 0.28 per cent at the time of filing this report.
Precious metals also witnessed selling pressure. Gold prices declined by more than 2 per cent to Rs 1,49,283 per 10 grams for 24-karat gold, while silver prices fell 1.88 per cent to Rs 2,34,053 per kilogram.
Other Asian markets also reflected weak investor sentiment, with most major indices ending lower. Japan's Nikkei 225 index declined 1.91 per cent to close at 64,190. Singapore's Straits Times fell 1.28 per cent to 4,958, while Hong Kong's Hang Seng index slipped 0.76 per cent. Taiwan's Weighted Index dropped 3.42 per cent to close at 43,225, and South Korea's KOSPI index fell 4.74 per cent to settle at 7,730.
— ANI
Reader Comments
FMCG holding steady while everything else falls — chai-walas and biscuit makers never disappoint! But it's concerning how quickly investor sentiment turns. The Sensex barely gained, Nifty fell... and gold dropping 2%? That's rare. Maybe people are booking profits for weddings? 😅
As a small investor, these geopolitical jitters make me nervous. But I've learned that panic selling is rarely the right move. The market has seen worse — remember the Russia-Ukraine impact? It bounced back. Stay invested, folks. Though I wish SEBI would do more to protect retail traders from such volatility. 🧠📊
Why is no one talking about crude oil at $91? That's a direct hit on our economy! Petrol prices will go up, inflation will follow. The market can dance around all it wants, but the real pain is in our pockets. Govt should release more strategic reserves to calm things down. 🛢️😤
Markets are becoming too reactive to global noise. US-Iran tensions? Again? It's like Groundhog Day. Meanwhile, our domestic economy is actually doing okay — GST collections are up, corporate earnings are decent. But nobody cares. All eyes on Middle East and Fed decisions. Frustrating as an investor. 😡
Ab aadat si hai! (It's become a habit!) Nifty aana-jaana, Sensex ka upar-neeche. But the silver lining: FMCG stocks are showing resilience. HUL, ITC, Nestle — these are the true defenders. Gold
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.