Nifty, Sensex braces for lower opening amid Middle East geopolitical tensions

Stock market news: Indian benchmarks are poised to start the week on a lower note, mirroring declines in Asian markets, as investor confidence wanes following Iran's retaliatory strike against Israel over the weekend, sparking concerns of a broader regional conflict.

As of 8:30 am, GIFT Nifty was trading at 22,4760.50, indicating a downward opening for the Nifty 50, which closed at 22,519.40 on Friday.

Across Asia, markets have opened in negative territory, with the MSCI Asia ex-Japan index shedding 0.8 per cent amidst mounting tensions. Iran's launch of explosive drones and missiles at Israel late Saturday has intensified apprehensions among investors, weighing on risk assets globally.

Manoranjan Sharma, Chief Economist at Infometrics Ratings, commented, "There is a clear possibility of further escalation and retaliatory strikes by Israel... It's uncertain times for global stock markets."

In the Indian market, attention is likely to focus on the information technology sector following disappointing quarterly revenue results from Tata Consultancy Services (TCS), the country's leading software services company. TCS reported lower-than-expected revenue, attributed to weak client spending in North America.

Stocks to watch

• Granules India: The US drug regulator's investigation into the company's unit V facility at Anakapally concluded with zero Form 483 observations.
• ISMT: The company secured two contracts from Oil and Natural Gas Corporation (ONGC.NS), valued at approximately 3.44 billion rupees (about $41 million).
• Rail Vikas Nigam: The company received a letter of acceptance for a work order worth Rs 95.95 crore.
• Anand Rathi Wealth: The company reported a rise in consolidated net profit in the March quarter, announced a dividend of 9 rupees per share, and approved a proposal to buy back shares worth Rs 165 crore.

(With Reuters inputs.)