Global Markets
Home›Global Markets›Emerging Markets›India stocks set for flat open amid US-Iran risk and c…
India stocks set for flat open amid US-Iran risk and crude strength
Nifty 50 ended the prior session almost flat, while Bank Nifty fell 0.3% as crude oil gains weighed on sentiment.
India’s stock market was expected to start flat on Friday, with investors staying cautious as concerns over an escalating US-Iran war and rising crude oil prices weighed on risk appetite, LiveMint Markets reported. Weakness in semiconductor stocks added to the pressure, according to the outlet.
Gift Nifty pointed to a steady start for the Nifty 50 and Sensex, trading around 24,084, or about 12 points lower than the Nifty futures’ previous close. The prior session ended with the Nifty 50 holding above 24,000, while the Sensex edged up to 77,186.87.
In derivatives activity, LiveMint Markets said maximum call open interest was concentrated at the 24,200 and 24,100 strikes, while maximum put open interest was seen at 24,000 and 24,100. The outlet also cited option positioning that implied a wider trading range between 23,800 and 24,500, with an “immediate” range between 23,900 and 24,300.
For stock-specific views, LiveMint Markets attributed to Motilal Oswal’s Chandan Taparia three “stocks to buy” calls, including Sona BLW Precision Forgings, Bharat Heavy Electricals (BHEL), and Dixon Technologies (India). The outlet also said Taparia set a key Nifty 50 support level around 24,000, with bounce targets toward 24,250 and 24,400 if the level holds.
Latest closeWTI crude $79.00 ▼0.8%|Sensex 77,185.43 ▲0.2%