Sensex, Nifty trade flat in early trade amid Middle East tensions

MUMBAI: The benchmark equity indices opened lower on Monday but soon turned flat in early trade as investors remained cautious amid escalating geopolitical tensions in Middle East.

The 30-scrip basket opened 148 points or 0.19 per cent lower at 74,415 compared with the previous close. The index later pared losses and traded nearly flat at 74,611, up about 50 points in early trade.

Similarly, Nifty began the session on a flat note at 23,116, rising 35 points or 0.15 per cent from Friday’s close, as investors tracked developments in the ongoing tensions involving Iran, Israel, and the United States.

Infosys was among the major laggards, along with Asian Paints, Maruti Suzuki, Wipro, and Mahindra & Mahindra, which also traded lower.

Market sentiment remained fragile due to concerns over the widening West Asia conflict, tanker attacks in the Gulf region, and potential disruptions in the Strait of Hormuz, a critical global oil supply corridor.