On Tuesday, with the monthly expiry date of Nifty, the market opened on a weak note. Shortly after opening, the Sensex fell 200 points. Nifty also slipped below the 24,000 level, registering a decline of nearly 40 points. Bank Nifty fell 70 points. Mixed trading was seen in small-cap and mid-cap indices. However, the market mood seemed 63% bullish, and major benchmark indices showed some signs of improvement. At 09:26 am, the Sensex was trading 66 points down at 76,422, while the Nifty was seen trading around 24,020, down 11 points. Bank Nifty improved and was trading at 55,375, up 83 points. While FMCG, pharma and healthcare indices witnessed marginal losses, all other sectoral indices were trading in the green.
In the Nifty 50 index, Indigo, Titan, Max Healthcare, UltraTech Cement, M&M and ICICI Bank were among the top losers. On the contrary, SBI, Nestle, BEL, Coal India, TCS, Infosys, ONGC, TMPV, Wipro, Tech Mahindra and HCL Tech were among the top gainers. Today, there are several important triggers on both the global and domestic fronts. On one hand, the Finance Minister has said that the suggestions received on Capital Gains Tax and Gold Monetization are being considered; On the other hand, due to Trump’s statements on Iran and Israel, huge fluctuations have been seen in the prices of crude oil.
Global market signals are currently mixed. Before the market opened, GIFT Nifty was trading around 24,020 – down 44 points – while Dow Futures were trading up nearly 300 points. US markets were closed yesterday.
Important statement of Finance Minister on Capital Gains Tax and Gold Monetization:
Amid the ongoing debate over long-term and short-term capital gains tax, as well as gold monetization, the Finance Minister has made an important statement. He said that the government will definitely consider the suggestions received on issues like taxation and gold monetization in the stock market. This statement, given in response to a campaign by *Zee Business*, is being seen as an important development for investors.
Trump’s statement: Negotiations with Iran are moving in a good direction
US President Donald Trump has said that negotiations with Iran are moving in a positive direction. However, he also made it clear that if no agreement is reached, military action can be resumed. After this statement, global markets and crude oil prices are being closely monitored.
Pressure on Arab countries to improve relations with Israel
Trump has pressured several Arab countries, including Saudi Arabia and Qatar, to normalize their relations with Israel. According to reports, he has urged these countries to join agreements involving Israel. Increased diplomatic activity in West Asia serves as a key global signal for investors.
US military attacked Iranian ships
Amid reports of peace talks with Iran, US forces targeted several Iranian ships. America claims that these ships were laying mines in the sea and this action was taken in self-defense. After this news, geopolitical tension has increased once again.
Huge fluctuations in crude oil prices
Crude oil prices saw a sharp decline yesterday, falling almost 5 percent to close around $93. However, Brent crude rose nearly 2 percent to $98 following reports of attacks on Iranian ships. This fluctuation in oil prices will continue to be an important factor for the Indian market.