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Below the Quote on Pre - Markets opening by Mr. Vikram Kasat, Head Advisory, PL Capital (Prabhudas Lilladher)

It’s not Christmas in July, but investors are seeing red. US Stocks struggled to start the week between renewed hostilities in the on-again, off-again war in Iran and a lack of support from artificial intelligence and tech stocks.

Dow Jones ended down 0.3% while S&P 500 lost 0.8% and Nasdaq fell 1.6%.

Trump said on Monday that he was reinstating the Naval blockade of the Strait of Hormuz, and that all non-Iranian ships that pass through the waterway must reimburse the U.S. at a rate of 20% for the cargo. The move comes after both sides traded strikes over the weekend and oil climbed in response.

The escalating Iran conflict is testing whether the stock market’s broad-based growth can hold, and the market will have to balance the positive of corporate earnings strength with the negative of geopolitical risks

Kevin Warsh will testify before Congress for the first time in his capacity as chairman of the Federal Reserve. The Consumer Price Index and Producer Price Index, key inflation readings, aren’t due out until Tuesday and Wednesday.

Nifty 24211

Back in to tight trading range 23800-24270

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