Indian stock markets trade lower amid US-Iran tensions, surging crude

On Tuesday morning, Indian equity markets slipped as investors stayed wary due to ongoing US‑Iran geopolitical tensions.

The Sensex fell up to 0.42% (about 330 points), touching an intraday low of 76,973, and the Nifty dropped 0.38% (around 93 points) to 23,999 in early trade.

Sector‑wise, Nifty PSU Bank, Private Bank, Pharma, Healthcare and FMCG led the losers, each down as much as 1%. Meanwhile, Nifty MidSmall IT & Telecom, MidSmall Healthcare, Consumer Durables and Realty posted gains.

Within the Nifty basket, the biggest decliners were Eternal, Bajaj Auto, Axis Bank, HDFC Life, IndiGo, Bajaj Finserv and Trent.

Nevertheless, the broader market held up, with small‑cap, micro‑cap and mid‑cap indexes gaining close to 1%. Nifty Smallcap 250, Microcap 250 and Midcap 150 all traded in positive territory.

At the opening, the Sensex stood at 77,094.79 and the Nifty at 24,049.90.

An analyst noted that the Nifty is trading in a range, finding support between 23,700 and 23,800 and facing resistance from 24,200 to 24,300; a clear break above 24,500 would be needed to keep the bullish trend alive.

The expert added that banking shares are consolidating, whereas pharma and FMCG could attract selective interest amid market volatility.

Global mood stayed fragile as investors watched the evolving US‑Iran standoff and its possible repercussions for energy supplies and worldwide trade.

Reports indicated that US President Donald Trump was unhappy with Iran’s offer because it omitted any mention of its nuclear program; a US official quoted him as saying he ‘doesn’t love the proposal’.

Trump had reviewed the proposal with his senior national‑security advisers. The situation remains deadlocked, and regional energy flows continue to be disrupted.

Iran, meanwhile, has reportedly said it would reopen the Strait of Hormuz provided the US ends its blockade and hostilities cease.

In the commodities arena, Brent crude climbed 1% to $109.46 a barrel, while US WTI rose 1.22% to $97.55.

Asian markets showed mixed performance: Japan’s Nikkei fell roughly 1%, South Korea’s Kospi gained about 1%, and Hong Kong’s Hang Seng slipped nearly 1%.

On Wall Street, US equities closed slightly higher: the S&P 500 added 0.12% to 7,173.93 and the Nasdaq climbed 0.20% to 24,887.10.

(With inputs from IANS)