Both the Nifty and the Sensex began the trading day on a firm note. The Nifty gained over 250 points and opened at 25,337.80 and the Sensex surged over 1,000 points and opened at 82,248.68. All sectoral indices witnessed significant gains in early trade. The Indian rupee opened at 93.72 to the dollar versus Monday’s close of 93.93 to the dollar. Crude oil prices eased, with Brent crude trading at 92 dollars per barrel (at the time of filing this copy).
While US President Donald Trump has described the Iran war as “militarily effectively over” and indicated that further strikes are unlikely, Tehran has disputed claims of ongoing negotiations with Washington. Iran’s security chief Mohsen Rezaei has said no talks are currently underway, highlighting differences between Washington’s assessment of diplomatic progress and Tehran’s public position. Independent market analyst, Ambareesh Baliga told Times Now Digital, “again we see and read conflicting statements on the West Asia issue due to which oil prices have bounced back a bit. This could limit the run away rally of last week, however, still hopeful of an early resolution.”
In the previous session, stock markets had ended Monday on a positive note after recovering from sharp intraday losses, with a late rally in banking stocks helping benchmark indices close with modest gains. At close, Sensex settled 107.25 points, or 0.13%, higher at 81,106.65, while the Nifty advanced 58.25 points, or 0.23%, to close at 25,044.65. PSU bank stocks led the sectoral rally, while IT and metal shares remained under pressure. Vinod Nair, Head of Research, Geojit Investments had earlier said, “investors are now awaiting India and US inflation data for fresh cues on the interest-rate trajectory, while crude oil prices and global risk sentiment remain key near-term monitorables.” Analysts believe sustained gains will depend on geopolitical developments, crude oil prices, global cues and inflation data going forward.
Bureau Report
Leave a Reply