Stock market opening today: Will Sensex, Nifty crash again on June 16?

The stock market is expected to open on a flat note today, following a period of losses attributed to geopolitical tensions in the Middle East. The ongoing conflict between Israel and Iran continues to weigh heavily on market sentiment.The Gift Nifty futures were trading at 24,807 as of 8:12 am, suggesting that the Nifty 50 index is likely to open near its previous close of 24,718.6.advertisement"Nifty could gain support between 24,450 and 24,330 and meet resistance between 24,750 and 24,860 in today's market session. From here on, dips in the Nifty index should be viewed as buying opportunities for long-term investments," said VLA Ambala, Co-Founder of Stock Market Today.
Geopolitical tensions have intensified as Israel and Iran engaged in further military strikes over the weekend, resulting in civilian casualties and escalating regional unrest.This backdrop has kept market participants cautious, contributing to the subdued performance of Asian markets, where the MSCI Asia ex-Japan index fell by 0.2%.The rise in oil prices, driven by supply concerns in the already volatile Middle East, poses an additional challenge for India, an importer of crude oil."The ongoing conflict between Israel and Iran could trigger uncertainties in the broader market. The recent increase in crude oil prices could also add to inflationary pressure and impact broader economic stability," Ambala remarked.advertisementIn the midst of these conditions, foreign institutional investors (FIIs) have maintained their selling stance for a third consecutive session, resulting in net outflows of Rs 54,020 crore in June alone.Conversely, domestic institutional investors (DIIs) have continued their buying spree for the 19th straight session, attempting to stabilise the market amid external pressures. With the geopolitical situation showing no signs of easing, investors remain vigilant to potential fluctuations in the market and the broader economic implications of persistent oil price hikes.The impact of these geopolitical tensions is not limited to the stock market alone. The broader economic landscape could also experience significant shifts as a result of these developments. The potential for increased inflationary pressures due to rising oil prices is a concern for policymakers, especially in import-dependent economies like India.Moreover, the sustained outflow of foreign investments could lead to a depreciation of the local currency, further complicating the economic scenario. As investors navigate these turbulent times, strategic positioning and cautious optimism may be key in weathering the storm.Additionally, the ongoing geopolitical tensions have led to increased volatility in the global markets, affecting investor confidence worldwide. This uncertainty may result in cautious trading behavior, with investors looking for safe-haven assets.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)Must Watch

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What was not reported till now, and referenced in the FATF report, is the link of the shipment to Pakistan's National Development Complex, a defence and aerospace agency under the Pakistan government. 'The Bill of Lading of the seized cargo provided evidence of the link between the importer and the National Development Complex, which is involved in the development of long-range ballistic missiles,' the report stated. Officials said the timing strengthens India's position as it prepares to oppose the World Bank's $20 billion lending commitment to Pakistan over 10 years. India will oppose development funding to Pakistan at the World Bank's upcoming meetings, one of these people said, asking not to be named. 'India is not against multilateral agencies such as the IMF and World Bank extending financial support for the development of the people of Pakistan. 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The Hindu

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FATF report links dual-use cargo seized by India in 2020 to Pakistan missile agency

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First Post

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FATF links dual-use equipment seized by India to Pakistan's missile programme

A dual use equipment seized by India from a Pakistan bound merchant vessel in 2020 is linked to Islamabad's National Development Complex that is involved in the country's missile development programme, a new report by the Financial Action Task Force has said. read more India's 2020 seizure of Pakistan-bound dual-use equipment has been linked to Islamabad's missile development programme, according to a new report by the Financial Action Task Force (FATF). The equipment, intercepted from a merchant vessel is associated with Pakistan's National Development Complex, a key entity involved in the country's missile development. FATF, the global financial watchdog, referenced the case in its latest report, which outlines risks and vulnerabilities in the international financial and trade systems. The incident was cited under a section highlighting the misuse of the maritime and shipping sectors to move sensitive goods, including dual-use items that can be repurposed for weapons programmes. STORY CONTINUES BELOW THIS AD 'In 2020, Indian custom authorities seized an Asian-flagged ship bound for Pakistan. During an investigation, Indian authorities confirmed that documents mis-declared the shipment's dual-use items,' the FATF report said. 'Indian investigators certified the items for shipment to be 'Autoclaves', which are used for sensitive high energy materials and for insulation and chemical coating of missile motors,' the report said. It said these sensitive items are included in dual-use export control lists of the Missile Technology Control Regime (MTCR). The bill of lading of the seized cargo provided evidence of the 'link between the importer and the National Development Complex, which is involved in the development of long-range ballistic missiles,' it said. The export of equipment such as the autoclaves without formal approval from various authorities is a violation of existing law, the FATF said. Pakistan's National Development Complex (NDC) has played a crucial role in the development of Pakistan's missile programme. India had seized the dual-use equipment from merchant vessel Da Cui Yun at Kandla port in Gujarat on February 3, 2020. The Indian customs authorities had stopped the vessel for wrongly declaring an autoclave, which can be used in construction of missiles, as an 'industrial dryer'. The report said that significant vulnerabilities remain across the global financial system in countering the financing of weapons of mass destruction (WMD). STORY CONTINUES BELOW THIS AD 'Despite the grave threat posed by proliferation financing (PF), only 16 per cent of countries assessed by the FATF and its global network have demonstrated high or substantial effectiveness' in a process that evaluates the implementation of targeted financial sanctions under the United Nations Security Council resolutions on proliferation. The report said that unless the public and private sectors urgently bolster technical compliance and effectiveness, those seeking to finance WMD proliferation will continue to exploit weaknesses in existing controls. The report provided a detailed analysis of the evolving methods and techniques used to evade PF-related sanctions. 'Illicit actors are employing increasingly sophisticated methods to evade sanctions and circumvent export controls,' it said. With inputs from agencies