Indian markets likely to open lower amid Middle East tensions
Indian stocks are expected to open lower today, after Asian markets took a big hit: South Korea's Kospi fell over 6% and Japan's Nikkei dropped more than 3%.
The main reason? Growing tensions in the Middle East are making investors nervous about energy prices and the world economy.
Even the IMF has flagged that ongoing instability could shake up global markets.
India VIX dips 3.49% support 24,000
While US markets managed to close higher thanks to softer inflation data and strong earnings, the negative mood in Asia still weighs heavily.
The Gift Nifty hints at a slightly downbeat opening for India, too.
Meanwhile, market volatility (India VIX) actually dipped by 3.49%, showing investors are being careful but not panicked, analysts say there is solid support around 24,000 and resistance near 24,200 on the charts.