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.
Over the past eightsessions, Nifty has retraced only 61 per cent of preceding seven sessions, highlighting a robust price structure.
Nifty slumped to 21,530.20 but rebounded to end the day 97 points, or 0.44%, higher at 21,840.
Sensex and Nifty rose 0.6% each to 71,555 and 21,743, respectively. Broader markets, too, saw some respite after undergoing selling pressure as Nifty Midcap 100 and Nifty Smallcap 100 indices rose up to 0.3%.
The mid and small-cap indices dropped 1% each amid lack of directional cues and dashed hopes of an early rate cut by the Reserve Bank of India.
In the broader markets, the BSE MidCap and SmallCap indices advanced 1 per cent and 1.23 per cent , respectively.
