Indian equity markets traded higher on Thursday in early deals amid hopes of easing tensions in West Asia after Iran said it was reviewing latest proposal to end the conflict.
At the close, the Sensex fell 733.22 points, or 0.90%, to 80,426.46, while the Nifty ended 236.15 points, or 0.95%, lower at 24,654.70.
At close, the Sensex was down 466.26 points or 0.56% at 82,159.97, and the Nifty was down 124.70 points or 0.49% at 25,202.35.
The stock market on Thursday erased all the intraday losses in the final hour of buying. Indices remained under pressure for the most part of the session.
The Reserve Bank of India’s June 2025 policy surprised markets with its boldness ~ slashing the repo rate by 50 basis points to 5.5 per cent, cutting the Cash Reserve Ratio (CRR) by a substantial 100 basis points, and pivoting its policy stance from accommodative to neutral.
Markets in the week gone by were driven by fear, war-mongering and panic. Of course, all of this leads to extreme volatility and sharp two-sided moves.
Markets will continue to focus on the earnings season and global cues in the upcoming week.
Markets were under pressure in the week gone by and the optimism about markets and new highs in the festive season simply disappeared looking at the Israel-Hamas stand. Markets lost on four of the five sessions and gained on just one session.
The concerns triggered by the ongoing Israel-Hamas conflict had resulted in the creation of big short positions in the market, and now these shorts are being covered pushing the markets up, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
It was a topsy-turvy week that went by. Markets were flat for the first two trading sessions, and then gained, lost and ended the week with gains.
