Global Risk-Off Ripple: Greenland Tariff Shock, Gold Spike, and How World Jitters Hit Indian Markets

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Global markets slipped into risk-off mode after fresh tariff threats from the US on several European countries over the Greenland issue, rattling sentiment and boosting safe-haven demand.

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Indian equities mirrored the cautious global tone, with Nifty fifty, Sensex, and BankNifty ending lower as profit-taking hit heavyweights and risk appetite softened.

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Earnings reactions drove big moves: Reliance Industries, ICICI Bank, and Wipro came under pressure on the back of muted or disappointing guidance, dragging key indices.

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InterGlobe Aviation, Tech Mahindra, Hindustan Unilever, Kotak Mahindra Bank, Maruti Suzuki and select mid and small caps like Jindal Saw and PB Fintech stood out as notable gainers on stock-specific positives.

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Wipro slumped sharply after a weaker-than-expected revenue growth outlook, while Reliance Industries, ICICI Bank, Godrej Properties, MRPL and other names saw meaningful intraday declines.

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Nifty defended crucial support near twenty five thousand six hundred, with resistance seen around twenty five thousand nine hundred, defining the immediate trading range.

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BankNifty held the fifty nine thousand seven hundred to fifty nine thousand eight hundred zone as key support, with the psychological sixty thousand mark acting as a strong overhead resistance.

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Sector-wise, FMCG outperformed as investors rotated into defensives, while IT, energy and realty indices underperformed amid earnings disappointment and profit-booking.

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The rupee weakened further against the US dollar, reflecting global risk aversion and foreign outflows, adding another layer of pressure to domestic sentiment.

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Gold and silver on MCX surged to fresh highs on safe-haven buying, while crude oil remained relatively soft, signaling worries over global growth even as geopolitical risk stayed elevated.

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Regulatory and policy backdrop remained constructive, with ongoing work on index governance and bond market deepening, but the day’s price action was dominated more by global cues and earnings than by local rules.

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Technical outlook for the next session points to consolidation with a downside bias unless Nifty convincingly reclaims the twenty five thousand nine hundred zone and BankNifty breaks above sixty thousand.

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The key actionable takeaway: respect support and resistance zones on Nifty and BankNifty, avoid chasing momentum in overextended names, and consider defensives and precious metals as hedges amid heightened global uncertainty.