Mumbai (Maharashtra) [India], June 10 : Indian equity markets ended on a mixed note on Wednesday, with the Nifty 50 closing in the red while the BSE Sensex managed a marginal gain, as renewed tensions between the United States and Iran kept investors cautious.
The Nifty 50 index closed at 23,216.45, down 27.15 points or 0.12 per cent. The BSE Sensex settled at 73,983.18, gaining 64.42 points or 0.09 per cent. Market experts said investor sentiment remained subdued amid fresh geopolitical concerns in the Middle East, which overshadowed positive momentum seen during the first half of the trading session.
Ponmudi R, CEO of Enrich Money, a SEBI-registered online trading and wealth-tech firm, said, “Indian equity markets ended modestly lower as renewed hostilities between the United States and Iran unsettled investor sentiment and revived concerns over the durability of the fragile ceasefire.”
“The Nifty traded positively through much of the first half before surrendering gains later in the session, as geopolitical uncertainty continued to limit risk appetite and cap any meaningful recovery. Sectoral performance was mixed, with banking, financial and FMCG stocks providing support, partially offsetting broader weakness across the market,” he added.
On the sectoral front, most NSE indices ended lower. Nifty Media emerged as the worst-performing sector, declining 2.36 per cent. Nifty PSU Bank fell 1.39 per cent, while Nifty IT declined 0.83 per cent and Nifty Auto lost 0.74 per cent.
Nifty FMCG was the only major sectoral index to close in positive territory, ending with gains of more than 1 per cent and helping limit the broader market decline. Meanwhile, crude oil prices remained under pressure. Brent crude was trading at USD 91.33 per barrel, down 0.28 per cent at the time of filing this report. Precious metals also witnessed selling pressure.
Gold prices declined by more than 2 per cent to Rs 1,49,283 per 10 grams for 24-karat gold, while silver prices fell 1.88 per cent to Rs 2,34,053 per kilogram. Other Asian markets also reflected weak investor sentiment, with most major indices ending lower. Japan’s Nikkei 225 index declined 1.91 per cent to close at 64,190. Singapore’s Straits Times fell 1.28 per cent to 4,958, while Hong Kong’s Hang Seng index slipped 0.76 per cent.
Taiwan’s Weighted Index dropped 3.42 per cent to close at 43,225, and South Korea’s KOSPI index fell 4.74 per cent to settle at 7,730. (ANI)