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US-Iran War: Market veterans flag near-term volatility, see buying opportunitiesOn India, Christopher Wood of Jefferies says foreign institutional investors could return if the semiconductor trade peaks and triggers a sell-off in markets such as Korea and Taiwan.By Meghna Sen  March 2, 2026, 12:10:29 PM IST (Published)2 Min ReadHeightened tensions between the US and Iran have put global markets on edge, with investors closely watching the potential fallout for equities, crude prices and capital flows.

Market veterans say geopolitical risks are now difficult to ignore, but they differ on the duration and depth of the impact.

Christopher Wood of Jefferies believes markets can no longer sidestep geopolitical risks in the current environment. He suggests diversifying portfolios through gold and energy stocks as a hedge against uncertainty.

Wood has set a long-term target of $6,600 for gold and says prices could even climb to $10,000 in an extreme scenario. He also expects markets outside the US to outperform.

On India, Wood says foreign institutional investors could return if the semiconductor trade peaks and triggers a sell-off in markets such as Korea and Taiwan.

He sees the possibility of a counter-trend rally in IT services, though he cautions that long-term growth trends in the sector remain a key monitorable.

Samir Arora of Helios Capital says the current phase could be tricky for markets given the geopolitical backdrop. However, he does not expect the conflict between the US and Iran to drag on for more than a few days.

Arora continues to like the defence sector, citing strong government support, and views the volatility as a buying opportunity. In fact, he says he is deploying fresh capital during this phase.

Manish Sonthalia of Emkay Global takes a base-case view that any market disruption could be short-lived, largely driven by movements in crude prices.

He expects incremental flows into India, citing that emerging market equities are currently attractive.

Among sectors, he favours auto component and tyre companies, along with financial stocks including insurers. He also sees select opportunities in commercial vehicles, power transmission and defence names.

With crude prices and geopolitical developments in focus, investors are bracing for near-term volatility, even as some market participants view the current correction as a tactical opportunity.Continue ReadingNote To ReadersDisclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.TagsChris WoodGold PricesIndian MarketsUs-iran tensions