Hello and welcome to NDTV Profit’s live coverage of equity markets today!
India’s stock markets are poised for a gap down open today as the full-blown conflict in the Middle East rattles equities worldwide and push investors toward safe haven gold and bonds.
The GIFT Nifty is down 200 points below 25,200 as of 7:50 a.m., indicating a gap down open for the Nifty 50. Rupee is also expected to be under pressure through the day.
Asian shares fell 1.2%, while equity-index futures for US benchmarks dropped 0.6%, recovering from earlier session lows.
Brent surged as much as 13% — before paring gains — as the conflict plunged the global crude market into turmoil, with the effective closure of the Strait of Hormuz. Gold rose 0.9% to trade around $5,325 an ounce, off the session highs.
