INDIA STOCKS-Indian benchmarks dip as Trump's Tehran evacuation call unsettles investors

Reuters
06-17
INDIA STOCKS-Indian benchmarks dip as Trump's Tehran evacuation call unsettles investors

Updates for morning trade

By Bharath Rajeswaran

June 17 (Reuters) - India's benchmark indexes edged lower on Tuesday as investors adopted a cautious stance after U.S. President Donald Trump urged Iranians to evacuate Tehran as Israel and Iran attacked each other for a fifth straight day sowing fears of a broader regional conflict.

The Nifty 50 .NSEI was down 0.38% to 24,846.80 and the BSE Sensex .BSESN fell 0.39% to 81,474.38 as of 10:10 a.m. IST.

Nine of the 13 major sectors logged losses. The broader smallcaps .NIFSMCP100 and midcaps .NIFMDCP100 traded flat.

U.S. stock futures slipped, and oil prices rose as markets remained on edge as U.S. President Donald Trump cut short his visit to the Group of Seven summit in Canada amid U.S. military moving a large number of refueling aircraft to Europe . MKTS/GLOB

A rise in crude prices is a negative for commodity importers such as India, as crude constitutes a significant share of the country's import bill.

"Trump's latest comments urging Iranians to evacuate Tehran have kept investors on edge regarding the geopolitical outlook and could add to the pressure on markets," said Devarsh Vakil, head of prime research at HDFC Securities.

Given the prevailing geopolitical uncertainty, investors in Indian markets are adopting a cautious stance as they await further clarity, said Hardik Matalia, analyst at Choice Broking.

Among individual stocks, Vishal Mega Mart VSSL.NS fell 6.6% after multiple block deals at a discount to the last close.

Tata Motors TAMO.NS fell 1%, adding to the 3.6% drop in the previous session, with multiple brokerages terming the JLR margin guidance for fiscal 2026 as below market expectations.

Mastek MAST.NS rose 2.4% after securing a contract from NHS England to deliver cybersecurity training in collaboration with Templar Executives.

Navin Fluorine NAFL.NS rose 4.2% after Jefferies reiterated "buy" citing a likely positive impact on fiscal 2026 earnings due to a capex monetisation pick-up.

($1 = 85.8180 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Mrigank Dhaniwala, Eileen Soreng and Tasim Zahid)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))

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