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.
The Indian equity market experienced one of the best weeks of 2024, with the Nifty and Sensex reaching all-time highs of 24,592.20 and 80,893.51, respectively, before closing at 24,502.15 and 80,519.34.
Nifty 50 settled at a fresh closing high of 24,502.15, having jumped 186 points, or 0.77%. Sensex settled at its fresh closing high of 80,519.34 with a gain of 622 points, or 0.78%. Nifty 50 hit a fresh all-time high of 24,592.20, while the Sensex reached 80,893.51 during the session.
The market was influenced by price cuts from a major automaker and anticipation surrounding the upcoming earnings season.
Several automobile stocks, including Maruti Suzuki and Mahindra and Mahindra (M&M), clocked healthy gains.
As the Indian stock market keeps touching new highs amid a record bull run, over 42.4 lakh new demat accounts were opened in the month of June, the highest account opening rate since February.
