Indian stock market traded in the deep red, with benchmark indices Sensex and Nifty plunging over 1 per cent each as rising uncertainties around Iran-US war, persistent FII selling and other factors dampened investor sentiment.
The 30-share BSE Sensex fell 303.67 points or 0.41 per cent to close at 74,346.17, while NSE Nifty declined 77.95 points or 0.33 per cent to end at 23,405.60, respectively.
Dilip Parmar, Research Analyst at HDFC Securities, said, “The Indian rupee fell for a second consecutive session, weighed down by capital outflows and mounting concerns over US President Donald Trump’s latest tariff proposals. Escalating tensions in the Middle East also pushed crude oil prices higher, further denting investor sentiment. Additionally, a stronger US dollar and rising bond yields continued to pressure regional currencies on expectations of hawkish central banks.”
“Near-term market focus will stay tightly locked onto the Reserve Bank of India’s interest rate outcomes, FII participation trends, and the seasonal advancement of the southwest monsoon. Spot USDINR faces immediate resistance at 96.50, with key support holding at 95.10,” added Parmar.
