The whole world is currently focusing on the ongoing conflict between Israel and Hamas which may also affect the global market as well. If any escalation in the Israel-Hamas war takes place, there is a high possibility that fuel surge crude oil prices in the global market. Therefore, Indian stocks are bracing for a lower start alongside the global stock indices, due to the ongoing war situation in Israel following an unprecedented attack by Hamas militants on Saturday, October 7, 2023. As a result of the war situation in the Middle East Europe, Indian stocks are expected to remain lower when the market opens on Monday, October 9, 2023. You should hear what fund managers say. Stick with this page and read this article till the end. Scroll down for more.
According to the fund managers, the Israel-Hamas war may affect the Indian market, in line with the global stock indices. However, the experts also added that there is no need to panic suddenly. The behavior of the market is being closely monitored by them. If any escalation occurs in the war situation it can badly impact the Indian market because the crude oil price will surely surge and volatility will increase in rupe and bond yields. Swipe down the page and read more details.
Samir Arora, the founder and fund manager of Helios Capital Management said, “It’s an evolving situation that we need to gauge for a couple of days before taking any decision,” He further added, “I don’t think there’s any cause for panic yet, though we might see a knee-jerk gap-down opening, in sync with other markets. It’s better not to pre-empt but to react.” He went on to consider the Russia-Ukraine war situation that occurred last year when he reduced the funds by 15 percent. But this time he would not do anything instantly.
The president and head of Nuvama Capital Markets, Shiv Sehgal said, “Our markets could gap down, taking cues from Asia, but we could recover by the end of the day,” He predicted that the high volatility in the rupee can be seen in the future, which would definitely impact the pieces of commodities like metals and oil. The escalation and widening of the war situation is likely to happen as the US Navy is moving its army to help Israel while Arab countries and Iran are hailing Hamas. Stay tuned.