Indian benchmark indices opened Friday’s session on a tentative footing as elevated crude prices and mounting geopolitical tensions between the United States and Iran kept investors on edge.
The BSE Sensex was trading near 82,370 in early deals, down 128 points or 0.16 per cent. The Nifty 50 hovered at 25,472, up 18 points or 0.07 per cent, holding above the 25,450 mark despite volatility.
In the broader market, the Nifty Midcap 100 gained 0.1 per cent, while the Nifty Smallcap 100 slipped 0.09 per cent in early trade.
Global cues remain mixed
Asian markets traded on a mixed note as investors weighed the risk of further escalation in West Asia. Japan’s Nikkei 225 declined more than 1 per cent, while South Korea’s KOSPI rose over 1 per cent. Markets in mainland China were shut for the Lunar New Year holidays.
Overnight, Wall Street ended lower amid heightened tensions in the Middle East, triggering a risk-off mood. The S&P 500 fell 0.28 per cent, the Dow Jones Industrial Average declined 0.54 per cent, and the Nasdaq Composite slipped 0.31 per cent.
US President Donald Trump reportedly said Iran had 10–15 days to reach an agreement over its nuclear programme before he decides on potential military action, adding to investor anxiety.
Commodities in focus
Brent crude hovered near $72 per barrel during the Asian session amid concerns over possible supply disruptions from the Middle East. On the Intercontinental Exchange, Brent futures were trading 0.2 per cent lower at $71.8 a barrel.
Precious metals saw safe-haven buying. Gold and silver futures rose 0.31 per cent and 0.8 per cent, respectively, in early trade as geopolitical uncertainty supported demand.
According to a Bloomberg report, the current US military buildup in the region is the largest since the 2003 Iraq War, underscoring the scale of escalation investors are monitoring closely.
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