Indian equity markets signalled a weak start to the trading session, with the Nifty 50 slipping below the crucial 24,000 mark in pre-open trade amid rising global uncertainty and pressure from international cues.
According to market pre-open data, the Nifty 50 was trading at 23,970.10, down 206.05 points or 0.85%, while Nifty Futures fell 0.94% to 24,006. The sharp decline comes as investors turned cautious following escalating US-Iran tensions, higher crude oil prices and continued pressure on emerging market currencies.
Market experts identified the 24,350–24,400 zone as a major resistance area for the Nifty in the near term, indicating limited upside unless global sentiment improves.
The Indian rupee also remained under pressure, with the dollar-rupee pair trading near 94.95, reflecting strength in the US dollar amid safe-haven buying.
Global risk sentiment weakened after the US and Iran failed to make progress on ceasefire and nuclear negotiations, pushing Brent crude prices above $104 per barrel. Rising oil prices are increasing concerns around imported inflation, fiscal pressure and foreign fund outflows for emerging markets like India.
Analysts expect volatility to remain elevated through the week as investors track geopolitical developments, crude oil movement, institutional flows and upcoming Q4 earnings announcements.
Rate-sensitive sectors including banking, automobiles and consumption may remain under pressure in the near term, while traders are expected to closely monitor the 24,000 support zone for further directional cues.
