Domestic equity markets started the week on a negative note due to tensions between the US and Iran in the Strait of Hormuz. The Sensex fell by 0.29% to 78,261 points, while the Nifty dropped by 0.46% to 24,241 points, led by selling pressure in realty, metal, and energy sectors.
Leading the losses in early trading were Hindalco Industries, TMPV, Eternal, HDFC Life, HDFC Bank, BEL, Bajaj Finserv, and Kotak Mahindra Bank. Analysts noted that market momentum is increasing, but uncertainty persists due to global instability, making markets reactive and reliant on tactical moves rather than sustained trends.
In the previous session, foreign institutional investors (FIIs) bought equities worth Rs 683 crore, while domestic institutional investors (DIIs) sold equities worth Rs 4,721 crore. Analysts anticipate a positive to range-bound market opening for the day, supported by global cues and market strength, although some profit booking or consolidation at higher levels is possible.
Concerns escalated as Iran re-imposed shipping restrictions in the Strait of Hormuz, leading to a rise in crude oil prices. Brent crude traded 7.18% higher at $96.87 per barrel, and US WTI crude rose to $91.20, an 8.76% increase from the previous close. Meanwhile, Asian markets, including Japan’s Nikkei, Hong Kong’s Hang Seng, and South Korea’s KOSPI, traded up to 1% higher each, following a positive trend in global equities.
