Sensex, Nifty End Slightly Lower Amid Middle East Conflict
(RTTNews) - Indian shares ended slightly lower on Monday as investors assessed the risk of any potential escalation of the conflict involving Iran ahead of an expected Israel ground offensive in Gaza against the terror attacks.
Iran warned on Saturday that failure to stop Israel's "war crimes and genocide" could have "far-reaching consequences."
Traders also watched movements in the oil and bond markets after oil prices jumped nearly 6 percent on Friday, stoking fresh concerns around inflation and interest rates.
Meanwhile, government data released earlier today showed that India's wholesale inflation continued to stay in the negative zone for the sixth straight month in September.
The benchmark S&P BSE Sensex swung between gains and losses before ending the session down 115.81 points, or 0.17 percent, at 66,166.93.
The broader NSE Nifty index settled 19.30 points, or 0.1 percent, lower at 19,731.75.
Adani Ports, IndusInd Bank, TCS, Nestle India and Divis Laboratories fell 1-2 percent in the Nifty pack, while LTIMindTree, Tata Steel, JSW Steel and Hero MotoCorp rose 1-2 percent.
The dollar index eased slightly today but held close to highs touched on Friday ahead of key U.S. data and Fed Chair Jerome Powell's speech due this week.
Treasury yields rose and gold fell on profit taking after recent sharp gains while oil prices were little changed as the U.S. and its allies ratcheted up efforts to prevent the war between Israel and Hamas from engulfing the wider region.
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