Markets hold steady amid border conflict

Markets claw back losses even as India VIX rose 4% intraday but ended 0.3% higher

- Dipti Sharma

MUMBAI: The equity markets shrugged off early nerves on Wednesday following India's attack on Pakistani terror camps to end the day's trading session with quiet gains.

Despite pre-open indications of a sharp 1% gap-down, the benchmark indices opened only slightly lower and swiftly clawed back losses.

The Nifty 50 eked out a 0.1% gain, closing at 24,414.40 points, while the Sensex edged up 0.1% to settle at 80,746.78, reflecting the market's underlying resilience amid geopolitical headwinds.

But India VIX, often called the market's fear gauge, spiked 4% intraday before settling just 0.3% higher—signalling elevated volatility despite the lukewarm market reaction to escalating India-Pakistan conflict.

"We will have volatility and downside from time to time as global economic developments play out," Aashish Somaiyaa, chief executive of WhiteOak Capital AMC, said.