Sensex, Nifty open higher as IT stocks rally amid Israel-Iran conflict
Benchmark stock market indices rose on Monday, starting the week on a positive note, despite the geopolitical tensions globally. IT sector stocks gained in early trade, pusing the markets up.The S&P BSE Sensex was up by 257.49 points to 81,376.09, while the NSE Nifty50 gained 83.20 points to 24,803.55 as of 9:29 am.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that the uncertainty stemming from the Israel-Iran conflict has created a risk-off in global markets.advertisement
"The safe haven buying is keeping gold firm but dollar continues to be weak. Interestingly there is no panic in equity markets. Markets will be severely impacted only if Iran closes the Strait of Hormuz triggering a huge spike in crude. This appears to be a low probability event now," he added.The top gainers on the Sensex were led by Power Grid Corporation, which surged 1.17%, followed by UltraTech Cement with a gain of 1.07%. Bharti Airtel climbed 0.89%, while HCL Technologies rose 0.86% and LT added 0.83% to open higher.On the losing side, Tata Motors was the worst performer, declining 3.15%, followed by Adani Ports which fell 0.69%. Axis Bank dropped 0.59%, Kotak Mahindra Bank lost 0.31%, and State Bank of India declined 0.28% during the early trading session.advertisementThe broader market indices declined today. Nifty Midcap 100 fell 0.38%, while Nifty Smallcap dropped 0.79%. India VIX, the volatility index, declined by 2.80%.Among the sectoral indices, several posted gains during the early trading session. Nifty IT led the gainers with a rise of 0.54%, followed by Nifty Oil & Gas at 0.16%, Nifty Financial Services at 0.04%, and Nifty FMCG at 0.03%.Several indices opened in negative territory. Nifty PSU Bank declined by 0.94%, Nifty Media fell 0.84%, Nifty Auto dropped 0.67%, Nifty Metal lost 0.46%, Nifty Realty declined 0.37%, Nifty Private Bank fell 0.21%, Nifty Consumer Durables dropped 0.12%, Nifty Pharma declined 0.10%, and Nifty Healthcare closed marginally lower by 0.02%."Past experience tells us that times of uncertainty and risk-off are buying opportunities for long-term investors. The difference this time is that the risk-off has not triggered big selling in equities making their valuations attractive. The market scenario characterised by sustained retail buying and fund flows into mutual funds will ensure valuations remaining high for an extended period of time. Therefore, long-term investors can use this risk-off scenario to buy relatively attractively valued stocks like financials," said Vijayakumar.Must Watch
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
24 minutes ago
- Economic Times
Breathe. Hold. Invest: What Yoga teaches us about wealth creation
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Investing isn't a destination, it's a lifelong journey that evolves with you, growing alongside you with each passing a world driven by instant gratification and volatile markets, both yoga and investing require something increasingly rare: discipline, patience, and mindfulness. By aligning the philosophy of yoga with financial habits, investors can create a more balanced relationship with their equity investors look for quick results. They micro analyse each day's market fluctuation, try to rethink each decision they made, second guess not only their own research but also the advises they have acted on from seasoned professionals. But when you look back at this moment 20 or 30 years from now, these fluctuations will feel like nothing more than a small blip in decades ago, the Sensex was around 5,000 points. Despite several ups and downs like the Global Financial Crises where Sensex declined by more than 30% in less a 6 months period; a sharp fall of about 27% at the onset of the COVID-19 pandemic; and numerous periods of sideways movement, Sensex has yet again crossed the 81,000 mark. This is a 16.2x times gain in the 20 years period. This long-term growth underscores a vital lesson - patience and persistence are often the most rewarding strategies in not only Yoga but also in every bout of volatility which could be triggered by events completely out of anyone's control, investors often feel depressed looking at the temporary losses in their portfolio values. Many even act impulsively and sell some of their investments. But most successful investors aren't chasing quick wins or reacting to every market shift. They think long-term, stay calm during volatility, and many times take advantage of the market nervousness to find some compelling ideas. The power of compounding is infact like yoga - it has the power to transform your life in ways that one would have never imagined. Ask someone who has spent years meditating in a disciplined fashion, the transformation that he/she has undergone. Somebody who has never meditated cannot even imagine the inner peace that someone with that experience has achieved. Just as no one masters a headstand on the first try or fully experiences the benefits of kapalbhati or pranayama within a few weeks, it's the steady ongoing practice that brings real session of Yoga begins with one fundamental instruction: focus on your breath. It's a call to anchor yourself in the present moment and not on what just happened or what's coming next. The same lesson applies to investing. People need to see beyond just returns if they want to create true wealth and that is possible only when you focus on the investment process and not on the investment investing, one has to understand that despite all the research, analysis, and planning, there will always be elements of risk. You might pick the right fund, but the market may still dip leading to a broader level fall in your portfolio. You might invest at the perfect time, but returns could take years to compound. That's not failure, but a reality. A very important philosophy that applies here is 'aparigraha' or non-attachment. By embracing non-attachment, investors can avoid the stress of trying to control every outcome. It's about being consistent, making thoughtful decisions, and then allowing the process to unfold. This is much like holding a yoga pose with presence and ease, rather than striving for has been recognised globally to discover the essence of life. By focusing on the present, dealing day to day with equanimity, maintaining discipline to lead a balanced life and using meditation and exercises for both the mind and body, millions of people have achieved happiness. By incorporating some of these principles in our investment processes, we can have similar outcomes for our wealth as well.: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Time of India
35 minutes ago
- Time of India
S&P 500, Nasdaq finish lower; investors uneasy about Middle East conflict
The S&P 500 and Nasdaq ended lower on Friday, with investors on edge over the Iran-Israel conflict heading into the weekend, as the U.S. considers whether to get involved. Trading was choppy for much of the session. The S&P 500 also ended lower for the week, while the Nasdaq registered a weekly gain. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 23.7% Returns in last 5 years with Shriram Life's ULIP Shriram Life Insurance Undo Iran said it would not discuss the future of its nuclear program while under attack by Israel, as Europe tried to coax Tehran back into negotiations. The White House said on Thursday that President Donald Trump will decide in the next two weeks whether the U.S. will get involved in the Israel-Iran air war, adding pressure on Tehran to negotiate. "Investors are a little bit nervous about buying stocks right in front of this situation and, more specifically, right in front of this weekend," said Rick Meckler, a partner at Cherry Lane Investments in New Vernon, New Jersey. Live Events Israel's attacks have been aimed at suppressing Tehran's ability to build nuclear weapons. A week into its campaign, Israel said it had hit dozens of military targets. Tech-related megacap stocks, including Nvidia, were among the biggest negatives on the S&P 500 and Nasdaq. The Dow Jones Industrial Average rose 35.16 points, or 0.08%, to 42,206.82, the S&P 500 lost 13.03 points, or 0.22%, to 5,967.84 and the Nasdaq Composite lost 98.86 points, or 0.51%, to 19,447.41. For the week, the Dow was little changed, the S&P 500 was down 0.2% and the Nasdaq was up 0.2%. Friday's volume was higher than the recent average. The day marked a "triple-witching" event, which is the simultaneous expiration of stock options, stock index futures, and stock index options contracts that takes place once every quarter. U.S. exchanges' volume was 20.91 billion shares, compared with the 18.06 billion average for the full session over the last 20 trading days. Investors also weighed comments from Federal Reserve officials after the Fed on Wednesday left interest rates unchanged and Fed Chair Jerome Powell warned inflation could pick up pace over the summer as Trump's tariffs work their way to consumers. Fed Governor Christopher Waller said he felt the inflation risk from tariffs was small, and that the Fed should cut rates as soon as its next meeting. Richmond Fed President Tom Barkin took a more tempered view, saying there was no urgency to cut rates. Kroger shares jumped 9.8% after the grocery chain increased its annual sales growth forecast. Shares of Accenture fell 6.9% after the IT services provider said new bookings decreased in the third quarter. Declining issues outnumbered advancers by a 1.1-to-1 ratio on the NYSE. There were 102 new highs and 59 new lows on the NYSE. On the Nasdaq, 1,894 stocks rose and 2,651 fell as declining issues outnumbered advancers by a 1.4-to-1 ratio. (Additional reporting by Kanchana Chakravarty and Sukriti Gupta in Bengaluru; Editing by Devika Syamnath and Rod Nickel)
Economic Times
an hour ago
- Economic Times
S&P 500, Nasdaq finish lower; investors uneasy about Middle East conflict
The S&P 500 and Nasdaq ended lower on Friday, with investors on edge over the Iran-Israel conflict heading into the weekend, as the U.S. considers whether to get involved. ADVERTISEMENT Trading was choppy for much of the session. The S&P 500 also ended lower for the week, while the Nasdaq registered a weekly gain. Iran said it would not discuss the future of its nuclear program while under attack by Israel, as Europe tried to coax Tehran back into negotiations. The White House said on Thursday that President Donald Trump will decide in the next two weeks whether the U.S. will get involved in the Israel-Iran air war, adding pressure on Tehran to negotiate. "Investors are a little bit nervous about buying stocks right in front of this situation and, more specifically, right in front of this weekend," said Rick Meckler, a partner at Cherry Lane Investments in New Vernon, New Jersey. Israel's attacks have been aimed at suppressing Tehran's ability to build nuclear weapons. A week into its campaign, Israel said it had hit dozens of military targets. ADVERTISEMENT Tech-related megacap stocks, including Nvidia, were among the biggest negatives on the S&P 500 and Nasdaq. The Dow Jones Industrial Average rose 35.16 points, or 0.08%, to 42,206.82, the S&P 500 lost 13.03 points, or 0.22%, to 5,967.84 and the Nasdaq Composite lost 98.86 points, or 0.51%, to 19,447.41. ADVERTISEMENT For the week, the Dow was little changed, the S&P 500 was down 0.2% and the Nasdaq was up 0.2%. Friday's volume was higher than the recent average. The day marked a "triple-witching" event, which is the simultaneous expiration of stock options, stock index futures, and stock index options contracts that takes place once every quarter. ADVERTISEMENT U.S. exchanges' volume was 20.91 billion shares, compared with the 18.06 billion average for the full session over the last 20 trading days. Investors also weighed comments from Federal Reserve officials after the Fed on Wednesday left interest rates unchanged and Fed Chair Jerome Powell warned inflation could pick up pace over the summer as Trump's tariffs work their way to consumers. ADVERTISEMENT Fed Governor Christopher Waller said he felt the inflation risk from tariffs was small, and that the Fed should cut rates as soon as its next meeting. Richmond Fed President Tom Barkin took a more tempered view, saying there was no urgency to cut rates. Kroger shares jumped 9.8% after the grocery chain increased its annual sales growth forecast. Shares of Accenture fell 6.9% after the IT services provider said new bookings decreased in the third quarter. Declining issues outnumbered advancers by a 1.1-to-1 ratio on the NYSE. There were 102 new highs and 59 new lows on the NYSE. On the Nasdaq, 1,894 stocks rose and 2,651 fell as declining issues outnumbered advancers by a 1.4-to-1 ratio. (Additional reporting by Kanchana Chakravarty and Sukriti Gupta in Bengaluru; Editing by Devika Syamnath and Rod Nickel) (You can now subscribe to our ETMarkets WhatsApp channel)
