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Wall Street ends sharply lower as Iran retaliates against Israel attack

Wall Street ends sharply lower as Iran retaliates against Israel attack

Economic Times14 hours ago

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Weekly market wrap: Sensex tanks 1,070 pts; Nifty slips below 24,750 on global tensions, inflation cooldown
Weekly market wrap: Sensex tanks 1,070 pts; Nifty slips below 24,750 on global tensions, inflation cooldown

Hans India

time2 hours ago

  • Hans India

Weekly market wrap: Sensex tanks 1,070 pts; Nifty slips below 24,750 on global tensions, inflation cooldown

The Indian equity markets ended the week in the red as escalating geopolitical tensions and global economic uncertainty weighed on investor confidence. The US-Iran conflict, Israeli military strikes, and nervousness over US-China trade talks triggered widespread selling. The Sensex dropped by 1,070.39 points (1.30%) to close at 81,118.60, while the Nifty 50 fell 284.45 points (1.14%) to settle at 24,718.60. Despite the fall, the BSE Mid-Cap and Small-Cap indices showed relative strength, losing only 0.90% and 0.13%, respectively. The week started with optimism but ended sharply lower following geopolitical flare-ups and fears of rising crude oil prices. India's CPI inflation cooled to 2.82% in May—the lowest since 2019—led by easing food prices. Among stock movers: HDFC Bank fell after an FIR; MCX gained on SEBI's green light; Glenmark soared on drug launch; M&M and JSW Steel dropped despite healthy output. Global cues were mixed with China, UK, and Japan showing economic strain, while US inflation rose moderately.

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