Temporary ceasefire in military strikes between the US and Iran. NSE’s 50-share Nifty rose 160 points to trade at 23928.
Sensex up 549 pts, Nifty openes higher as Crude Oil prices decline: The opening of the stock market on the first day of the week was tremendous. BSE’s 30-share Sensex opened at 76608 with a bumper gain of 549 points. At the same time, NSE’s 50-share Nifty rose 160 points to trade at 23928.
The temporary ceasefire in military strikes between the US and Iran and the drop in crude oil prices have given Asian markets a big relief. Japan’s Nikkei 225 was in the red with a slight decline of 0.3%. However, Topix gained 0.61%. Kospi has also increased by 0.06%. Similarly, small-cap KOSDAQ was up 1.46%. Hong Kong Hang Seng Index futures were at 25,020, up from Friday’s close of 24,963.23. Meanwhile, the rupee opened 44 paise stronger at 96.13 against the US Dollar, compared to Friday’s close of 96.57 a dollar.
West Texas Intermediate (WTI) crude futures were trading at $84.52 a barrel, down 5.36%. At the same time, Brent crude futures for August delivery fell 5% to trade at $91.97, well below the key psychological level of $100. Crude prices on the COMEX fell 5.4% to $84.50 a barrel.
Technology stocks remained the biggest gainers, with the Nifty IT index surging 2.27%. Realty, media, healthcare, pharma and chemical stocks also witnessed strong buying, with their respective indices rising over 1%. The Nifty Realty index climbed 1.64%, followed by Nifty Media (1.73%), Nifty MidSmall Healthcare (1.64%), Nifty Pharma (1.04%) and Nifty Auto (0.97%). Banking indices traded with relatively modest gains, with Nifty Bank up 0.63%.
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