Indian shares opened sharply lower on Monday, gripped by panic over Middle East flare-ups. Reports of Ayatollah Khamenei’s death in US-Israel operations, coupled with Trump’s revenge vow, fueled global risk aversion that slammed domestic bourses.
Sensex crashed 1,000 points at the bell, Nifty 300. By 9:25 AM, the 30-share index was 1.28% or 1,043 points weaker at 80,244.09. Nifty lost 1.23% or 310 points to hover at 24,868.95.
Sectoral indices across Nifty were uniformly down. Sensex pack mirrored the gloom, with 29 of 30 stocks in the red—BEL the lone exception. Broader indices amplified the pain: midcaps -1.36%, smallcaps -1.86%.
Realty plummeted over 2% from the outset, media suffered heavy hits next. Metals showed resilience, posting the mildest drop.
Safe havens rallied as equities cratered worldwide. Gold and silver jumped on haven buying amid fears of protracted Iran conflict.
Research analyst Hitesh Tayal eyes Nifty resistance band of 25,600-25,650, support zone 25,300-25,350. RSI at 47.11 points to balanced momentum.
FII selling intensified last session at Rs 3,465 crore net, offset by DII purchases exceeding Rs 5,000 crore for the third day running.
Market sages advise measured steps amid volatility. Prioritize robust fundamentals in selloffs. Only chase longs post a clean Nifty breakout beyond 25,800, validating upward momentum and structural strength.