Sensex down 230 pts, Nifty loses 100 pts in early trade as markets open on cautious note amid US-Iran tensions

Mumbai (Maharashtra) [India], February 17 (ANI): The share markets in the country opened on a cautious note on Tuesday amid fresh tensions escalating between the United States and Iran, as the two nations began indirect nuclear talks in Geneva.
Rising geopolitical uncertainty and its impact on global markets weighed on investor sentiment, leading to declines in benchmark indices during the opening session.
The Nifty 50 index opened at 25,637.95, declining by -44.80 points or (-0.17 per cent), while the BSE Sensex opened at 83,197.67, falling by -79.48 points or -0.10 per cent.
Experts noted that global geopolitical developments are currently influencing market sentiment.
Ajay Bagga, Banking and Market Expert, told ANI, "Iran is dominating markets, talks are expected to fail, but the moot point is will Arab states agree to a US strike. Oil is transmitting the geopolitical risk to markets. Asian markets are soft and the Indian Gift Nifty is showing weakness despite the strong performance of Monday. Expect a volatile day given the Iran overhang globally".
The latest US-Iran conflict reflects a mix of diplomatic engagement and military pressure. On February 17, the two nations began indirect nuclear talks in Geneva to discuss sanctions relief, while the US simultaneously deployed two aircraft carrier strike groups to the region to maintain leverage. These developments have increased caution among global investors.
In the commodity market, gold prices remained almost flat on Tuesday. The price of 24 karat gold stood at Rs 153628 per 10 grams, while the price of silver stood at Rs 235752 per kg, reflecting stable but cautious investor positioning.
The broader market indices on the NSE also showed weakness. The Nifty 100 index declined by 0.26 per cent, while the Nifty Midcap 100 fell by 0.18 per cent. Another broader index also declined by 0.11 per cent, indicating cautious sentiment across segments.
Sectoral indices showed mixed performance. Nifty Auto declined by 0.47 per cent, while Nifty IT was under pressure with a fall of 0.12 per cent. Nifty Metal declined sharply by 0.76 per cent, Nifty Pharma fell by 0.21 per cent, and Nifty PSU Bank declined by 0.09 per cent. However, some sectors showed gains, with Nifty FMCG rising by 0.22 per cent and Nifty Media gaining 0.06 per cent.
Ponmudi R, CEO of Enrich Money, said, "The Indian stock market is expected to open on a steady note following yesterday's strong rebound, led by gains in financials, energy, pharma, and healthcare. Robust DII inflows continue to provide an underlying cushion, helping offset intermittent FII outflows. However, near-term sentiment remains cautious. Consequently, trading is likely to remain range-bound and choppy until fresh domestic or global triggers offer clearer direction."
Other Asian markets showed mixed trends. Japan's Nikkei 225 index declined by more than 1 per cent to 56214 level. Singapore's Straits Times index was slightly higher by 0.02 per cent at 4938, while Hong Kong's Hang Seng index surged by 0.52 per cent to 26705. The Taiwan and South Korea markets remained closed due to holidays.
In the US markets on Tuesday, the S&P 500 index rose marginally by 0.05 per cent to 6836 level, while the Nasdaq declined by 0.22 per cent to 22546 level. (ANI)

(This article was generated from news agency ANI without modifications to the text.)