Stock Market Today: Sensex, Nifty Open In Green Amid Fresh Escalation In West-Asia Conflict

Sensex and Nifty opened in the green today even as reports of escalations in the West Asia conflict emerged. The Nifty 50 opened at 24127.6 up by 54.85 points or 0.22 per cent and the 30 share Sensex opened at 77370.77 up by 183.9 points or 0.23 per cent higher.

Earlier today the Gift Nifty opened flat with a negative bias at 24,111, down by 0.24 per cent. In early trade the index fell to the 24,081 level. D-street is expected to react to several triggers such as the escalation of conflict between the United States and Iran, the announcement of Q1FY27 results and fluctuations in key commodity prices.

US-Iran Conflict

According to a report by BBC,  the US missiles have struck  for the sixth night in a row. The report cited US Central Command (Centcom) which said the missiles were launched to "further degrade Iranian military capabilities". On the other hand Iranian media has  claimed that the missiles struck near Qeshm, near the strait and Bandar Abbas and Bushehr, the site of Iran’s nuclear power plant. Additionally the report also claimed that two bridges in Hormozgan had been hit.  Earlier in July US President Donald Trump also threatened to hit bridges and power plants in Iran if the country did not return to talks. Stock markets across the globe are expected to factor in the latest escalation in the conflict on July 17

Asian Indices Trade Mixed

Asian indices started the trading session with mixed results on July 17 amid reports of escalation in the West Asia conflict. The Tokyo based Nikkei 225 traded lower by 3.71 per cent at 64,357. The Hong Kong based Hang Seng traded lower by 1.93 per cent at 24,523 and the Shanghai Composite index traded 1.7 per cent lower at 3,816.48 at the time of writing. The Indian stock market is expected to track these mixed cues seen across other Asian peers today.

Q1 Earnings In Focus

D-Street is set to factor in announcements made in the ongoing earnings season as several major companies will announce their first quarter financial results today. Sensex heavyweight Reliance Industries is scheduled to report its Q1FY26 results, which in turn is set to drive overall market sentiment. Other major companies announcing their results on July 17 include JSW Steel, Federal Bank, Tata Technologies, and Havells India.

US Dollar Index

On July 17, the US Dollar Index (DXY) was trading around the 100.75 level at the time of writing. Notably, the index measures the strength of the US Dollar by comparing it to a basket of major currencies.

Crude Oil Prices

Crude oil prices witnessed an uptick in the early hours of July 17, with Brent Oil Futures trading around $85.06, up by 0.69 per cent in early trade. On the other hand, West Texas Intermediate Crude prices traded up by 0.86 per cent at $79.63. Crude prices edged higher amid the fresh escalation in the conflict and the disruption to the Strait of Hormuz which makes the supply of crude oil dearer.

Gold and Silver Prices Today

According to the Goodreturns website, 10 grams of 24 carat purity gold is trading at Rs 1,43,280, while 22 carat gold is trading around Rs 1,31,340. On the other hand, silver prices traded at Rs 2,34,900 per kg.