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Thursday, June 13, 2024

Market jitters are brought on by the expectation that the Israel-Hamas crisis won’t escalate

<p>According to V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, there is a risk-on attitude in the market brought on by the expectation that the simmering Israel-Hamas war would not escalate.<img decoding=”async” class=”alignnone wp-image-240387″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/10/theindiaprint.com-market-jitters-are-brought-on-by-the-expectation-that-the-israel-hamas-crisis-wont-750×500.jpg” alt=”theindiaprint.com market jitters are brought on by the expectation that the israel hamas crisis wont” width=”1395″ height=”930″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/10/theindiaprint.com-market-jitters-are-brought-on-by-the-expectation-that-the-israel-hamas-crisis-wont-750×500.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2023/10/theindiaprint.com-market-jitters-are-brought-on-by-the-expectation-that-the-israel-hamas-crisis-wont-1024×682.jpg 1024w, https://www.theindiaprint.com/wp-content/uploads/2023/10/theindiaprint.com-market-jitters-are-brought-on-by-the-expectation-that-the-israel-hamas-crisis-wont-768×512.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2023/10/theindiaprint.com-market-jitters-are-brought-on-by-the-expectation-that-the-israel-hamas-crisis-wont-150×100.jpg 150w, https://www.theindiaprint.com/wp-content/uploads/2023/10/theindiaprint.com-market-jitters-are-brought-on-by-the-expectation-that-the-israel-hamas-crisis-wont.jpg 1040w” sizes=”(max-width: 1395px) 100vw, 1395px” title=”Market jitters are brought on by the expectation that the Israel-Hamas crisis won't escalate 9″></p>
<p>He added that the market hopes the war will remain localized, and this is why the market remains hopeful. US President Joe Biden’s upcoming trip to Israel and Jordan, as well as the two American aircraft carriers sent to the Eastern Mediterranean, are clear messages to Iran and Hezbollah not to intervene in the war.</p>
<p>The HDFC Bank results, in particular the upbeat forecast and analysis, are encouraging, and the bank, which has the largest weight in the Nifty, may help to strengthen the market. The outcomes from the other top banking brands will also be positive. He noted that capital goods and automobiles are still doing well.</p>
<p>The wider markets performed well, and volatility is expected as the result season continues, according to Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher. She said that the Nifty generally had a rangebound session with flat ending at 19,750 levels.</p>
<p>As previously said, the index must retain the 19,600 level support zone over the short term, while the 19,850 level zone is operating as a resistance barrier and must be firmly broken.</p>
<p>Support and resistance levels for the day are 19,600 and 19,900, respectively.</p>
<p>On Tuesday, the BSE Sensex is up 334 points at 66,501 points. ITC and Powergrid are up more than 1%.</p>

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