First Trade: Indices open weak as Middle East tensions escalate; Nifty below 24,800

Indian equities in Wednesday's trade opened lower tracking weakening global cues -signalling aggravation of the Iran-Israel tensions. At the open, Nifty50 index opened lower by 60 points or 0.24 per cent at 24,793.1, while the BSE Sensex was dragged lower by 219.97 points or 0.27 per cent to 81,363.33.

Meanwhile, Bank Nifty also was down 171.95 points or 0.31 per cent to 55,542.2.

From the broader markets, both the midcap and smallcap underperformed the headline indices, with smallcap index declining sharply by as much as 0.8 per cent.

Within the Nifty 50 pack, top gainers in early trade were stocks like HCL Tech, ONGC, Trent, Asian Paints and TCS, while laggards have been Kotak Mahindra Bank, JSW Steel, HDFC Bank, NTPC and Bajaj Finance.

Sectoral movement

Broad-based buying prevailed with indices like auto and realty leading the gains, followed by consumer durables.

Stocks to watch 

Vedanta: The company's board is scheduled to meet today for mulling first interim dividend of the FY 2025-26.

Bajaj Finance: The company's 497 crore bonus shares will list today.

Arisinfra Solutions: The Rs 499.6 crore intiial public offering (IPO) will open for public subscription today. The price band for the issue is decided as Rs 210-222.

BSE: BSE shares will be in focus after the F&O weekly expiry days have been swapped between the two exchanges. 
 

Asian markets

Asian stock markets traded mixed in early trade on Wednesday, as Hong Kong led losses amid rising geopolitical tensions amid possible US involvement in the Israel-Iran conflict. As at the last count, the key MSCI Asia ex Japan index traded lower by 0.44 per cent.

Meanwhile, investors are sitting on the edge,awaiting the crucial Federal Reserve interest rate decison due later today. Also, the markets took note of the latest trade print in Japan which was impacted due to US tariffs. Japan's Nikkei gained to a four-month high on a weaker yen.