India's stock market opened higher today, even as caution over a possible escalation in the Iran war offset sentiment after US President Donald Trump threatened “hell” if Tehran misses his deadline to reopen the Strait of Hormuz.
The 30-share S&P BSE Sensex rose to an intraday high of 73,588.75 points but gave up all the gains to an intraday low of 72,900.34 points, versus previous close of 73,319.55 points.
The wider NSE Nifty 50 swung between gains and losses of up to 0.3% on each side.
Top gainers on Nifty 50: Trent Ltd., Hindalco Industries Ltd., Coal India Ltd., Shriram Finance Ltd. and Wipro Ltd.
Top losers on Nifty 50: Adani Ports & SEZ Ltd., Kotak Mahindra Bank Ltd., Max Healthcare Ltd., Sun Pharma, Reliance Industries Ltd.
“With uncertainty over the West Asia conflict looming large, the stock market will continue to be volatile responding to potential good and bad news. The potential for further escalation of the war is high in the next few days,” V.K. Vijayakumar, chief investment strategist at Geojit Investments Ltd., said in an email to HT.
The Nifty 50 and Sensex lost 0.5% and 0.4%, respectively, last week, extending losses to a sixth straight week, as the Iran war and the resulting energy shock jolted markets.
