Sensex, Nifty post mild gains over hopes of US-Iran deal
The Indian equity markets posted mild gains early on Friday tracking positive global cues, over optimism regarding US-Iran peace negotiations.
The Indian equity markets posted mild gains early on Friday tracking positive global cues, over optimism regarding US-Iran peace negotiations.
At close, the Sensex fell 114.19 points or 0.15 percent to settle at 75,200.85, while the Nifty declined 31.95 points or 0.14 percent at 23,618.00.
Dalal Street witnessed heavy selling pressure in early trade as rising crude oil prices, weak Asian markets and geopolitical worries dragged benchmark indices sharply lower.
The bloodbath on Dalal Street on Tuesday continued with the benchmark indices, the BSE Sensex and the Nifty 50, declined for the fourth consecutive session amid mixed global cues.
The Indian equity benchmarks posted notable gains during the week over easing crude prices, a firmer rupee and softer 10-year bond yields despite lingering geopolitical tensions.
However, buying in PSU Bank, IT, and media helped Nifty to close above 25,500.
The stock market on Friday was on track to wrap up the week with strong gains. It was driven by renewed strength in oil and gas, metal, and auto stocks.
Notably, the market opened higher but saw extended buying as the session progressed. It was supported by heavyweight names and shares of metal, banking and oil & gas pack, with Nifty Bank ending at a record high.
The stock market extended its gains for the second consecutive day on Wednesday, with the Nifty crossing 25,200. The development comes amid positive cues with a fall in crude prices on tentative Iran-Israel ceasefire.
The stock market witnessed a volatile trading session on Tuesday as after a roller coaster activity, the Nifty ended 72 points higher, while the Sensex was up by 158 points.
