European shares fell on Friday and were headed for a second weekly loss, as escalating conflict in the Middle East and inflation worries dented risk appetite.
Global crude oil prices could surge to as high as USD 150 per barrel if the Strait of Hormuz remains closed for the next four to eight weeks, according to a report by Nuvama.
Crude oil above $100 has wiped out Rs 20 lakh crore in equity wealth, hammering markets in India as the Iran conflict escalates. The rupee hit a record low, and FIIs continue to sell, yet experts and Axis Mutual Fund argue the panic may be creating a rare long-term buying window.
Indian equity markets are currently under pressure due to rising geopolitical tensions, particularly the escalating conflict involving Iran, Israel, and the United States. The benchmark Nifty 50 has declined nearly 10% from its 52-week high, while the broader market has been hit even harder, with the Nifty Microcap 250 index falling around 18%. Notably, about 26 microcap stocks have dropped more than 50% from their 52-week highs.
Jefferies has updated its analyst top ideas, adding seven new stock recommendations across various sectors. These picks include State Bank of India, Groww, Star Health & Allied Insurance, Bharat Forge, JSW Steel, Eternal, and Max Healthcare, with significant upside potential highlighted for each.
Indian equity markets are experiencing significant volatility due to global uncertainties, rising crude oil prices, and consistent FII selling. Market expert Amnish Aggarwal advises caution, noting that supply chain disruptions and potential impacts on corporate earnings will take time to normalize. He suggests investors remain on the sidelines until the situation stabilizes.
