The Indian stock market is expected to open higher on Monday following news that the United States has officially joined Israel in launching strikes against Iranian nuclear facilities. This sudden geopolitical escalation has triggered global concerns, and experts believe it may lead to a rise in crude oil and gold prices.
Mahesh M Ojha, AVP — Research at Hensex Securities, noted that investors should pay attention to the anticipated gap-up opening, as tensions between Iran and Israel continue to intensify.
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The conflict has deepened after the U.S. used advanced B-2 stealth bombers to target key Iranian nuclear sites at Fordow, Natanz, and Esfahan. In response, Iran has vowed retaliation, raising fears of a broader war in the Middle East. The U.S. has also started evacuation flights from Israel to ensure the safety of its citizens.
Despite the tense global environment, Indian equity markets ended last week on a positive note. On Friday, the Sensex gained 1,133 points (1.4%) to reach an intraday high of 82,494, while the Nifty 50 climbed 1.4% to 25,136. According to Sugandha Sachdeva, Founder of SS WealthStreet, Nifty has managed to hold its crucial support level at 24,500 and is showing signs of an upside breakout. She stated that if Nifty breaks past the 25,200 level, it could target 25,700 in the near term.
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As for Bank Nifty, she believes that as long as it maintains support at 55,400, it has the potential to move towards the 57,180 mark. Overall, while the domestic market appears stable, global uncertainty due to the Middle East conflict may continue to influence investor sentiment in the coming days.
Disclaimer: This article is for educational purposes only. Please consult certified financial experts before making any investment decisions.
