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Business Standard
6 days ago
- Business
- Business Standard
Israel stock market shrugs off war concerns as TA-125 trades near record
Equity markets in Israel remained resilient, with benchmark indices hitting record highs despite continued deadly missile strikes exchanged with Iran for the fourth straight day. Even as the West Asia conflict sent shock waves to global stock market and sent crude oil prices soaring, Israel's TA-125 rose 2.7 per cent on Monday to a fresh high of 2,790.07. Since the beginning of the latest attacks on June 13, the index has risen nearly 3 per cent, while the MSCI Asia ex Japan has seen a mere 0.7 per cent gain. In the year so far, the TA-125 index has risen 14 per cent, while the MSCI Asia ex Japan and MSCI World indices are up 12 per cent and 6 per cent, respectively. Israel's stock market is at an all-time high, said Jitendra Gohil, chief investment strategist at Kotak Alternate Asset Managers, and it is a preconceived notion that geopolitical tensions may lead to stock market corrections. "In fact, heightened geopolitical tensions can lead to more fiscal and monetary easing, and the market loves loose policies. This won't be true in the case of countries that face sanctions (Iran, Venezuela, etc.), but today the US's ability to effectively implement sanctions has eroded. Look at Russia. The world is a very different place today, with multipolar forces emerging," Gohil said. On Friday, the Israeli military began airstrikes against Iran, targeting nuclear locations to block Tehran from developing atomic weapons, in an operation dubbed 'Rising Lion'. Israel's Defence Minister, Israel Katz, declared a state of emergency shortly after the strikes. The head of the Islamic Revolutionary Guard Corps, Hossein Salami, was killed in the strikes. The risk-off sentiment soared with oil prices spiking over 10 per cent, making it the biggest weekly gain since 2022. Brent prices can touch $150 a barrel (bbl) — up a whopping 103 per cent from the current levels — in the worst-case scenario if the Israel–Iran geopolitical tensions escalate, suggest analysts. Read more Back home, stock markets remained cautious on hopes that high oil prices would not always dampen market sentiment. The BSE Sensex index was at 81,604.18, lower by 192 points or 0.23 per cent, while the Nifty50 was at 24,890.2, down 56 points or 0.22 per cent. Despite the escalation of the Iran-Israel conflict globally, stock markets are steady and resilient, according to VK Vijayakumar, Chief Investment Strategist, Geojit Investments. "The decline in the US volatility index CBOE suggests that markets are unlikely to correct sharply unless the conflict takes a dramatic turn for the worse."
Mint
13-06-2025
- Business
- Mint
Sensex, Nifty 50 extend losses to second consecutive session— 10 key highlights from Indian stock market today
Indian stock market benchmarks — the Sensex and the Nifty 50 — closed in the red on Friday, June 13, extending losses for the second consecutive session amid heightened tensions between Israel and Iran and lingering uncertainty over US tariffs. The Sensex ended the day with a loss of 573 points, or 0.70 per cent, at 81,118.60, while the Nifty 50 fell 170 points, or 0.68 per cent, to 24,718.60. The BSE Midcap and Smallcap indices closed 0.32 per cent and 0.30 per cent lower, respectively. Volatility index India VIX jumped 7.59 per cent to 15.08, indicating elevated nervousness among market participants. Israel's military strike on Iran spooked investors, while foreign capital outflow amid stretched valuations of the domestic market also kept the market down. A sharp jump in crude oil prices, the rupee's fall against the US dollar and persisting uncertainty about the US tariffs also contributed to the market downtrend. "Indian equity benchmarks experienced downward pressure, driven by weak global cues and foreign institutional outflows. Market sentiment was notably impacted by heightened geopolitical tensions following Israel's military strike on Iran, which significantly increased risk aversion among investors," said Vinod Nair, Head of Research, Geojit Investments. Bharat Electronics (BEL) (up 2 per cent), ONGC (up 1.28 per cent) and Tech Mahindra (up 0.83 per cent) ended as the top gainers in the Nifty 50 index. One stock- Shriram Finance- ended flat. As many as 38 stocks ended in the red in the Nifty 50 pack, with Adani Ports and Special Economic Zone (down 2.27 per cent), ITC (down 1.67 per cent) and SBI (down 1.57 per cent) ending as the top losers. Most sectoral indices ended in the red, with banking and financial sectors losing significantly. Nifty Bank, Financial Services, PSU Bank and Private Bank indices lost about a per cent each Nifty FMCG and Metal (down 0.96 per cent) indices also lost by a per cent. On the other hand, Nifty IT, Realty and Healthcare indices ended flat. Vodafone Idea (46.91 crore shares), GTL Infrastructure (42.6 crore shares) and KBC Global (22.50 crore shares) were the most active stocks in terms of volume on the NSE. Raj Oil Mills, Shah Metacorp, and Shipping Corporation of India were among the six stocks that rose more than 10 per cent on the NSE. (This is a developing story. Please check back for fresh updates.) Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
Mint
12-06-2025
- Business
- Mint
ONGC, Oil India shares prices gain up to 5% on rising crude oil prices
Stock Market Today: ONGC and Oil India share prices gained up to 5% in the morning trade on Thursday, June 12, on a sharp rise in crude oil prices. The rising crude prices improve the outlook on the net realisations that the upstream oil producers earn. Crude oil prices have been rising with increasing geopolitical tensions in the Middle East. The Brent Crude price that had dipped to close to $60 a barrel levels ($61 a barrel level) in April has now risen to $69 a barrel levels. 'The spike in Brent crude to $70 is on heightened security risks in the Middle East. ONGC and Oil India can respond positively,' said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments. The declining crude price had been a concern for ONGC and Oil India's earnings outlook. Thus, a rise is now improving investor sentiments. For the past three months (till 23 May), the stock price of ONGC had been flat, underperforming benchmark Nifty Index (which was up 8%), due to a downtrend in oil price (which offset emerging visibility on growth in oil & gas production in the next three years), Elara Securities had observed. ONGC's net realisation prior to the windfall tax had declined by around 9% year-on-year in the January-March 2025 quarter, with declining crude prices. Hence, any rise in crude price raises investor optimism on the earnings growth of the companies. To be sure, the crude prices need to sustain the higher levels. Oil and Natural Gas Corporation or ONGC share price opened at ₹ 251.05 and surged to intraday highs of ₹ 255.15. This meant gains of more than 3% for the ONGC share price during the intraday trade. Oil India share price opened at ₹ 473.05 and further rose to intraday highs of ₹ 488.80. This translated to gains of close to 5% for the Oil India share price in intraday deals today.
Business Recorder
12-06-2025
- Business
- Business Recorder
India shares fall as US-China trade deal uncertainty, Middle East tensions weigh
India's benchmark indexes edged lower on Thursday, led by losses in IT stocks, as ambiguity over the U.S.-China trade deal and rising tensions in the Middle East dampened risk appetite. The Nifty 50 was down 0.16% at 25,101.3 and the BSE Sensex fell 0.2% to 82,355.26, as of 10:13 a.m. IST. The broader small-caps and mid-caps both fell about 0.3%. Eleven of the 13 major sectors logged losses. Other Asian markets were also muted, while Wall Street equities fell overnight on fresh geopolitical tensions in the Middle East and a lack of detail in a U.S.-China trade deal. U.S. President Donald Trump said a framework on tariff rates had been reached to revive the fragile trade truce with China. While this lifted investor hopes, the lack of specifics kept markets on edge. 'The tariff crisis is not over yet. With Trump's credibility being what it is, it would be too early to discount the development as a positive for markets,' said VK Vijayakumar, chief investment strategist at Geojit Investments. Indian shares muted as pullback in financials offsets broader gains Meanwhile, geopolitical concerns heightened after Iran said it will strike U.S. bases in the Middle East if nuclear talks fail and conflict arises with Washington. Escalating security risks in the Middle East is a negative for India as it could trigger a rise in Brent crude prices, said two analysts. Heavyweight IT fell 1%. Indian IT companies earn a significant share of their revenue from the United States. Among individual stocks, Paytm fell 8.4% after India's finance ministry refuted reports claiming the introduction of merchant discount rate (MDR) on UPI transactions. Delay or non-introduction of MDR is sentiment negative for Paytm and could present a downside risk to the company's core profitability in fiscal 2026 and 2027, UBS said in a note.
Mint
12-06-2025
- Business
- Mint
India shares fall as US-China trade deal uncertainty, Middle East tensions weigh
(Updates for morning trade) India's benchmark indexes edged lower on Thursday, led by losses in IT stocks, as ambiguity over the U.S.-China trade deal and rising tensions in the Middle East dampened risk appetite. The Nifty 50 was down 0.16% at 25,101.3 and the BSE Sensex fell 0.2% to 82,355.26, as of 10:13 a.m. IST. The broader small-caps and mid-caps both fell about 0.3%. Eleven of the 13 major sectors logged losses. Other Asian markets were also muted, while Wall Street equities fell overnight on fresh geopolitical tensions in the Middle East and a lack of detail in a U.S.-China trade deal. U.S. President Donald Trump said a framework on tariff rates had been reached to revive the fragile trade truce with China. While this lifted investor hopes, the lack of specifics kept markets on edge. "The tariff crisis is not over yet. With Trump's credibility being what it is, it would be too early to discount the development as a positive for markets," said VK Vijayakumar, chief investment strategist at Geojit Investments. Meanwhile, geopolitical concerns heightened after Iran said it will strike U.S. bases in the Middle East if nuclear talks fail and conflict arises with Washington. Escalating security risks in the Middle East is a negative for India as it could trigger a rise in Brent crude prices, said two analysts. Heavyweight IT fell 1%. Indian IT companies earn a significant share of their revenue from the United States. Among individual stocks, Paytm fell 8.4% after India's finance ministry reports claiming the introduction of merchant discount rate (MDR) on UPI transactions. Delay or non-introduction of MDR is sentiment negative for Paytm and could present a downside risk to the company's core profitability in fiscal 2026 and 2027, UBS said in a note. (Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sumana Nandy and Eileen Soreng)
