Image used for representational purposes only
| Photo Credit: The Hindu
Benchmark Nifty fell 1.04% to 23,123.00 points a day after Israel said that missiles were fired from Iran, escalating concerns regarding fresh tensions in West Asia.
The index opened at 23,080 points and increased to the day’s high of 23,267.30 points and dipped to 23,070 points and hit the day’s close.
Brent Oil Futures, which is one of the major indicators of global oil prices, too increased 1.4% to $94.38 a bbl from around $93 a barrel on Friday.
Most of the 3400 stocks declined on Monday. While the decline was just above 1%, all but one, Nifty Healthcare, sectoral indices declined.
Foreign Institutional Investors (FIIs) have so far sold a significant ₹51,000 crore in just the first week of June 2026. This led to 0.2% depreciation in the rupee, trading at ₹95.54 a dollar going by CCIL numbers.
The dip came on top of fresh escalation of tensions in West Asia. Israel claimed that Iran fired missiles on Sunday. U.S. President Donald Trump intervened asking for ceasefire from both sides. Tehran further said that it would halt attacks given Israel does not launch fresh attacks on Southern Lebanon.
“The weakness was largely driven by escalating tensions in the Middle East, which pushed crude oil prices higher and boosted safe-haven demand for the U.S. dollar. Additionally, stronger-than-expected U.S. jobs data has reignited expectations of further rate hikes by the FOMC, dampening global risk appetite and lending further support to the greenback,” said Nandish Shah, deputy vice president, HDFC Securities.
Published – June 08, 2026 05:15 pm IST
