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Indian Stock Market May Remain Unaffected by Iran Retaliation Without Israeli Involvement

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Indian stocks may be unfazed by Iran reprisal attacks unless Israel responds

Indian stocks may be unfazed by Iran reprisal attacks unless Israel responds

Indian markets are expected to remain stable in the face of recent Iran reprisal attacks, according to market experts. The Tel Aviv Stock Exchange’s benchmark TA-35 index closed up 0.27% despite overnight drone and missile attacks from Iran.

The TASE operates from Sunday through Thursday, with trading hours from 9:59 am to 3:39 pm on Sundays and extended hours on other days. The Gift Nifty closed last week at 22452.50, indicating a 67-point drop for Nifty at Monday’s opening.

Market concerns are centered around the conflict in West Asia and its potential impact on various sectors. Higher energy prices can adversely affect inflation, GDP growth, and corporate earnings. However, experts believe that as long as there is no further escalation in tensions, the markets will likely absorb the geopolitical events with minimal impact.

Retail and HNIs have turned bullish, while FPIs have sold shares worth ₹8,027 crore, leading to a slight decline in Indian stock indices. Despite this, buying by DIIs worth ₹6,341.53 crore helped limit the overall losses in the market.

Overall, experts remain cautiously optimistic about the market, with the key support level for the Nifty seen at 21800-22000. Weekly options suggest support at 22200 and resistance at 22700, with the Nifty trading close to its all-time high. FPIs have remained net buyers this year, purchasing shares worth ₹24,240 crore, while DIIs have bought shares worth ₹1.2 trillion.

In conclusion, market analysts suggest that the Indian stock market is poised to weather the current geopolitical uncertainties, with a focus on key support levels and overall market sentiment.

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