Experts believe the Indian stock market may remain volatile on Monday, April 15, as geopolitical tensions between Israel and Iran continue to escalate. Markets are expected to feel the potential impact this week as investors continue to closely monitor developments between the two countries.
Investors are expected to remain cautious as they navigate geopolitical tensions between the two countries after Iran launched an attack against Israel on Sunday night.
Vinod Nair, head of research at Geojit Financial Services, told news agency ANI: “Rising geopolitical tensions and supply concerns in the Middle East have pushed up oil prices, impacting overall market sentiment. “I’m working on it,” he said.
“The Indian market is likely to strengthen amid concerns over delays in US interest rate cuts, rising oil prices due to escalating tensions in the Middle East, and weak fourth-quarter profit forecasts,” he said.
Shrikant Chauhan, executive vice president of Kotak Securities, told the news agency that rising tensions between Iran and Israel are “not a positive thing” for the stock market, but that unless other countries get involved, volatility could increase. “It’s still manageable,” he said.
“This is not a positive thing for stock markets around the world. If it’s between Iran and Israel, it’s still manageable, but if other countries join in, it will get even worse. But our market will recover. It is likely to stall at the psychological support level of Nifty, which is at 22,000,” Chouhan said.
“This massive onslaught marks a new flashpoint in the Israeli-Hamas conflagration, and signals a significant deterioration in the geopolitical situation in general and the Middle East in particular. World War III is yet to break out. “No, horizontal escalation and Israeli retaliatory strikes, or even deterrent strikes, are unlikely,” said Dr. Manoranjan Sharma, Chief Economist, Infomerix Ratings. told ANI.
Iranian drone attack on Israel
Iran launched an attack on Israel on the night of April 14 using hundreds of drones and missiles in retaliation for Israel’s attack on the Iranian consulate in Damascus. This is Iran’s first direct attack on Israel after decades of tensions between the two countries.
The Israeli military said Iran launched more than 300 drones, making it the largest single drone attack ever carried out by a country. The economic fallout from the attack has deeply affected Iran, with the country’s currency, the railway, falling to a record low of $670,000 on Sunday, and recovery has been slow.
(With inputs from ANI)
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