Indian shares opened lower on Monday, reflecting ongoing concerns over the Middle East conflict, which has persisted for five weeks. The benchmark BSE index fell by 690 points (0.9%) to 72,892, while the NSE Nifty index decreased by 162 points (0.7%) to 22,657. Notable decliners included major players like SBI, Bharti Airtel, and Axis Bank, which dropped between 2-3%.
Despite the overall downturn, some stocks showed resilience. NLC India gained about 2% following the start of coal production at its joint venture project, while Coal India rose 2.7% after securing a significant order from Telangana Power Generation. Additionally, GR Infraprojects and NTPC also posted modest gains due to new project approvals and investments.
Market professionals should note the mixed signals: while geopolitical tensions are weighing on the broader market, specific sectors such as energy and infrastructure are demonstrating growth potential, indicating opportunities for selective investments.
Source: nasdaq.com