Asian markets opened lower on Wednesday as investors reacted to a fresh escalation in the Middle East after the United States launched new strikes on Iran, raising concerns over regional stability and energy supplies. Market sentiment deteriorated after a U.S. official said American forces carried out overnight strikes on an Iranian military facility believed to pose a threat to U.S. personnel and commercial vessels operating in the Strait of Hormuz. Iran’s Islamic Revolutionary Guard Corps said it had targeted a U.S. air base following an American strike near Bandar Abbas airport.
Asian equity markets decline as Middle East tensions escalate after fresh US strikes on Iran – Daily Market Update 8th July 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled lower in range 0.25% to 1.16%.
- European equity markets, barring FTSE, ended in red.
- Asian equity markets are trading with a negative bias.
- GIFT Nifty is down by 150 points, Nifty futures is likely to open around 24230 levels.
The benchmark Nifty index ended on a flat to negative note tad below 24000 spot levels after a lackluster trading session.
The broader markets slightly underperformed the benchmark as Mid and Small cap indices were down 0.3% & 0.55% respectively.
The majority of sectoral indices, tracked at NSE, ended in red. Among them, Nifty Realty was the worst performer, down 1.58% followed by Metal index that were down over 1%. On the flip side, Nifty IT was the best performer, gained around 2.5%.
The advance-decline ratio was tilted towards the negative side for second consecutive trading session, showing underlying weakness around price resistance of 24500-24600 spot levels. Technically, Nifty index has reached the price resistance zone of 24500-24600 spot levels as mentioned in our previous discussions. Going ahead, we expect indices to take a halt around current levels and a decisive break above 24600 spot hold the key for up move higher. Conversely, sustained trading below 24250 spot levels could drag it back to 24000-23800 spot zone.
Derivatives Overview & Outlook
Yesterday, short buildup was seen in Finnifty futures with an increase in open interest by 3.7% along with some long unwinding in Nifty futures that shed around 2% of open interest, whereas no significant changes were observed in Banknifty and Midcapnifty futures on price as well as on open interest front.
All F&O sectors, barring New_age and Technology, settled lower. Among them, Infrastructure, Telecom and Textile stocks witnessed maximum addition of short positions. On the other hand, short covering was seen among Technology and New_age stocks.
On options front, Nifty will start the new weekly series of July contract with maximum positions at 24500 CE and 24500 PE followed by 24000 PE.
Institutional Trading Activity
Yesterday, FIIs bought stocks worth Rs 393 Cr in the cash segment, bought index futures worth Rs 391 Cr and also bought stocks futures worth Rs 1133 Cr. DIIs were net sellers in the cash segment to the tune of Rs 383 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24520-24700; Supports 24300-24200
Banknifty – Resistances 59020-59500; Supports 58000-57500
Finnifty – Resistances 27200-27300; Supports 26800- 26700
F&O stocks in ban today: Nil
Disclosure
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