Indian shares muted on Mideast jitters and RBI meeting
The Nifty 50 and Sensex stayed nearly unchanged on Thursday as escalating U.S.-Iran hostilities kept oil prices near 97 dollars per barrel. Investors are cautiously awaiting Friday's Reserve Bank of India policy decision where economists expect the repo rate to remain at 5.25 percent.
India equity benchmarks remained flat on June 4 as escalating geopolitical conflict in the Middle East offset local sector gains. The Nifty 50 rose 0.1% to 23,425.6, while the BSE Sensex edged up 0.06% to 74,383.15. Investors are maintaining cautious positions ahead of a critical central bank interest rate decision scheduled for the following morning.
### Geopolitical Friction Drives Crude Volatility Market sentiment soured after Iran struck an airport in Kuwait and the United States launched retaliatory strikes near the Strait of Hormuz. These hostilities overshadowed a ceasefire brokered between Israel and Lebanon, keeping Brent Crude Oil elevated near $97 a barrel. Choice Equity Broking analyst Aakash Shah said high energy prices are weighing on sentiment and leaving the Nifty rangebound but bearish.
