GIFT Nifty traded down 34.5 points, or 0.18%, at  19,520.5, indicating a negative opening for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Previously on Thursday, The NSE Nifty 50 fell 46.40 points or 0.24% to settle at 19,624.70, while the BSE Sensex shed as much as 247.78 points to 65,629.24.

“Markets remained vulnerable amidst simmering Middle-East geopolitical tensions. Pessimism still continues to run high amidst negative catalysts like deepening Israel-Palestine conflict, uninspiring Q2 from corporate India Inc so far, the 10-year US Treasury yields spiking to 4.87%, rising expectations of one more interest rate increase from the Fed, and anxiety ahead of Powell’s speech later today. For Nifty, the support is placed at the 19,501 mark, while any strength can be seen only after the index breaks the 19,887 hurdle,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.

Also Read