IGI Logo

Market Commentary

Indian benchmark indices opened on a weak note and extended their losses throughout the session, closing near the day's low amid broad - based profit booking . Investor sentiment remained under pressure as Brent crude oil prices climbed back above $ 85 per barrel, while persistent geopolitical tensions further weighed on risk appetite .

* At close, the Nifty 50 declined 0 .66 % to settle at 24 ,052 , while the Sensex ended lower at 77,054 .

* On the sectoral front, Nifty Pharma, Healthcare, and Metal emerged as the top - performing sectors, attracting defensive and selective buying interest . On the other hand, Realty, PSU Banks, and Auto remained the key laggards, witnessing significant profit booking and dragging the benchmark indices lower .

* The broader market also ended in negative territory . The Nifty Midcap 100 index declined 0 .44 %, while the Nifty Smallcap 100 index fell 1.01%, indicating sharper selling pressure in the broader market compared with the benchmark indices

* Gift Nifty signals a flat to positive start to the Indian market . Nifty spot in today's session is likely to trade in the range of 23 ,800 - 24 ,250 .

Global Updates

* Geopolitical risk has surged to the forefront of global macro . After truce efforts collapsed, the U.S . President notified Congress of resumed military hostilities, authorizing expanded operations . CENTCOM has reinstated a full naval blockade of Iranian ports, backed by 20 + warships and a fourth straight night of airstrikes targeting key southern locations, including Bandar Abbas and Qeshm Island .

* Wall Street desks absorbed a powerhouse fundamental print as Goldman Sachs reported an second - quarter net revenue of $ 20 .34 billion and net earnings of $6.63 billion .

* Asian markets opened firmly higher, led by South Korea's KOSPI surging 6.83 %, while Japan's Nikkei 225 gained 0 .83 % and Australia's S&P/ASX 200 advanced 0 .47 %, as investors extended the tech - driven rally sparked by easing inflation concerns in the U.S .

Above views are of the author and not of the website kindly read disclaimer