Stocks in Focus: GIFT Nifty traded down 14.5 points, or 0.08%, at 19,309.5, indicating a tepid opening for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously on Monday, the NSE Nifty 50 tanked 260.90 points or 1.34% to settle at 19,281.75, while the BSE Sensex shed as much as 825.74 points to 64,571.88.  The Bank Nifty index shed 571.85 points to settle at 43,151.20. 

“Benchmark indices witnessed severe pounding in the last hour trades as simmering geo-political tension in the Middle-East region triggered a wave of selling pressure and prompted investors to offload equity holdings. Investors are already worried about further interest rate hike and inflation, and with the addition of the Israel-Hamas conflict, the uncertainty has increased further and leading to weak sentiment in global equities,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities. 

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