Stocks
Market panic! Sensex nosedives, Nifty tumbles as Iran–US-Israel conflict spooks investors
Mumbai/IBNS: The Indian stock market witnessed a sharp decline at the opening bell on Monday, tracking rising tensions in the Middle East amid the escalating conflict involving Iran, the United States, and Israel, media reports said.
The benchmark index Bombay Stock Exchange Sensex plunged over 700 points at the opening, with losses widening to nearly 1,000 points soon after early trade.
Similarly, the National Stock Exchange Nifty 50 slipped below the 24,900 mark, falling more than 300 points in the opening session.
Among the top losers were Aki India Ltd. (-5.70%), Rajesh Exports Ltd. (-5%), InterGlobe Aviation Ltd. (-4.50%), Birla Corporation Ltd. (-4.36%), and Future Lifestyle Fashions Ltd. (-4.17%).
Market expert Anil Singhvi told Zee Business that weakness could intensify if Nifty 50 and Nifty Bank close below the key levels of 24,800 and 59,850 respectively.
He added that Nifty Bank has immediate support in the 60,800–61,000 range, with strong buying zones seen at 60,500–60,750 and 60,375–60,550 levels.
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