Initially, global trade war and now Iran-Israel tensions have worsened. On Sunday, strikes by Israel killed the chief of Iran’s armed forces intelligence unit. The heightened tensions between the two countries is seen after Israel attacked Iran early on Friday, hitting military facilities as well as populated areas. Now in its wake, Indian equities which were seeing a rangebound move- saw a sharp drag on Friday but settled off day’s low, down with a drag of 0.68 per cent or 169.6 at 24,718.6.
So, considering the sharp drag in the previous session, here below is Zee Business Managing Editor Anil Singhvi’s take on Nifty’s performance thus far amid trade war, ..
Nifty at 22,000 as global trade war was initiated- March 2025
The expert higlighted that the bluechip index was at 22,000 when the global trade war began. On March 3, 2025, the US President Donald Trump levied tariffs on aluminium and steel imports from Canada and Mexico and Nifty on the same day closed at 22,119 levels.
Nifty at 23,000 level amid currency war – April 2025
On April 11, 2025, amid currency war, when China’s Yuan plummeted to 7.42 levels, Nifty closed at 22,828.55 levels, close to 23,000 levels
Nifty at 24,000 amid Indo-Pakistan tensions- May 2025
After Operation Sindoor was initiated on May 7 post the Pahalgam attack, Nifty closed at 24,008 levels on May 9.
Nifty close to 25,000 levels as Iran-Israel war escalates
As Iran-Israel tensions escalated and war commenced on June 13, Nifty closed at 24,719 levels.
Will selling continue in case Iran-Israel war continues? Anil Singhvi view
Market guru noted that as of now there are no signs of the deescalation in the Iran-Israel tensions. And hence, it will be difficult for the markets to sustain at the higher levels and even in a case if it moves higher there will be witnessed profit booking.
Additionally, the expert went on to say that even though markets see a prompt reaction to any of the development, there is no such tendency of the market to keep reacting to the same news again and again.
Also, he added that as and when the war ceases, the market will see recovery and will even move higher.
Talking specifically about the Friday’s move, the expert added that even though markets saw sharp sell-off, the indices ended at the day’s high given the strong domestic macros.
The market veteran stated that now in case more countries participate in the war then only the markets will be concerned or if there is a nuclear attack from either of the country.
So, given the current global cues, by and large the expert expects market to be volatile and trend lower.
