Kolkata: A huge amount of investor wealth was lost on the last two days of trading in the last week against the background of rising Israel-Iran conflict putting the West Asian region into a new crisis. As concern for disruptions in the supplies of crude in the global market mounted, the price of crude rose, putting further pressure on the equity indices as well as on the Indian rupee. Crude oil prices jumped as much as 13% on Friday to hit the highest level in more than two months. FIIs also felt nervous and pulled out significant investments in the Indian stocks. The question is, will the bears again be on the prowl as trading opens in the Indian market?
At close of trade, Sensex was down 573.38 points (or 0.70%) to settle at 81,118.60 points and Nifty was down 169.60 points (or 0.68%) to close at 24,718.60. With the sole exception of media, all sectoral indices ended lower with FMCG, PSU Bank, oil & gas, power, telecom down between 0.5% and 1%. The BSE Mid Cap and Small Cap indices lost by 0.32% and 0.30% respectively. In the Sensex basket, Adani Ports (2.71%), ITC (1.67%) and SBI (1.64%) were the key losers and Tech Mahindra (1.02%), TCS (0.38%) and Maruti (0.16%) were the major gainers.
Global cues this morning
In the US only Dow Jones ended in the green on Friday with a rise of 0.05% at close. But S&P500 and Nasdaq ended majorly in the red — 1.13% and 1.30% down respectively. In Europe all three major indices FTSE, CAC and DAX ended in the red.
In the Asian sector, GIFT Nifty was in the green on Monday (June 16) morning — 0.22%. So was the crucial Nikkei — 0.91%. KOSPI was also in the green. But other indices such as Straits Times, Hang Seng, Taiwan Weighted, Djakarta Composite and Shanghai Composite were in the red.
“Indian stock markets are likely to follow the global trend, following rising tension in the Middle East amid the Israel-Iran conflict, which could fuel further pessimism and prompt investors to flee riskier assets. Also, traders will exercise caution ahead of the US Federal Reserve interest rate decision on Wednesday, coupled with other central banks of Japan and the UK announcing their interest rates separately,” Ketan Vikam, Head of Sales at financial services provider Almondz Institutional Equities, was quoted in the media saying.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, precious metals, commodity, any form of alternative investment instruments and crypto assets.)
On Monday (June 16) morning GIFT Nifty was in the green on Monday. So was Japan’s Nikkei 225 and South Korea’s KOSPI. But other indices such as Straits Times, Hang Seng, Taiwan Weighted, Djakarta Composite and Shanghai Composite were in the red. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
