Indian equity benchmarks opened lower on Friday, tracking weak global cues as renewed tensions between the US and Iran dampened investor sentiment and pushed crude oil prices higher.
At 9:15 AM, the BSE Sensex was down 463.23 points, or 0.60 per cent, at 77,381.29, while the NSE Nifty50 declined 125.15 points, or 0.51 per cent, to 24,201.85.
Earlier in the pre-open session around 9:03 AM, the Sensex had slipped 103.09 points and the Nifty was down over 183 points, signalling a weak start for Dalal Street.
Markets Open In Red Amid Fresh US-Iran Escalation
Investor sentiment remained under pressure after reports of renewed exchanges between the US and Iran near the Strait of Hormuz intensified concerns over prolonged instability in West Asia.
The latest developments have once again raised fears of disruptions to global energy supplies through the strategically important Strait of Hormuz, a crucial route for global crude shipments.
Asian Markets Decline As Risk Appetite Weakens
Markets across the Asia-Pacific region traded lower in early deals on Friday as geopolitical tensions weighed on risk sentiment.
Japan’s Nikkei 225 declined 0.63 per cent, while South Korea’s Kospi slipped 0.85 per cent. Investors remained cautious amid concerns that a prolonged conflict could impact global growth and inflation trends.
Wall Street Ends Lower On Geopolitical Uncertainty
US markets ended in the red overnight as investors assessed mixed signals emerging from the US-Iran situation.
The S&P 500 fell 0.63 per cent, while the Dow Jones Industrial Average declined 0.38 per cent. The Nasdaq Composite also closed marginally lower, shedding 0.13 per cent.
The weakness reflected uncertainty over whether diplomatic efforts would progress or tensions in West Asia would escalate further.
Brent Crude Above $101 Keeps Inflation Concerns Alive
Crude oil prices continued to rise as hopes for a near-term resolution to the conflict weakened.
Brent crude climbed 1.43 per cent to trade above $101 per barrel on the Intercontinental Exchange, reflecting concerns over potential supply disruptions.
Higher oil prices remain a key risk for India, given their impact on inflation, the rupee, and overall macroeconomic stability.
Gold, Silver Rise As Investors Seek Safe Havens
Precious metals traded higher amid renewed demand for defensive assets.
Both gold and silver futures gained 0.41 per cent in early trade as investors shifted towards safer investment avenues.
