Stock Market Today LIVE: The benchmark indices Nifty 50 and Sensex recovered over 1.5% from early losses to turn positive on Monday, April 6, following reports that the U.S. and Iran had received a proposal outlining an immediate ceasefire and a potential roadmap to end hostilities. Axios reported that the US, Iran and regional mediators were discussing terms for a potential 45-day ceasefire that could eventually lead to an end to the fighting, citing sources familiar with the talks.
Sensex recovered 1159 points from its day’s low to day’s high of 73,887.63 while Nifty 50 advanced 357 points from its intra-day low to high of 22,900.55.
At its lowest point in the day, the Sensex had fallen 591 points, or 0.8%, to 72,728.66, while the Nifty 50 dropped 170 points, or 0.75%, to an intraday low of 22,542.95.
Meanwhile, over the weekend, U.S. President Donald Trump warned of “hell” if Tehran failed to meet his deadline to reopen the Strait of Hormuz. His repeated threats to target civilian infrastructure, including power plants and bridges, if the strategic waterway is not reopened by Tuesday, have heightened market anxiety over possible retaliatory strikes by Iran on assets in Gulf nations.
Asian Markets Today
Asian markets that were open for trading mostly moved higher today, as investors kept a close watch on the war in Iran, surging oil prices and the possibility of further comments from U.S. President Donald Trump.
Japan’s benchmark Nikkei 225 rose nearly 1.1% to 53,692.42 in morning trade, while South Korea’s Kospi advanced 1.5% to 5,460.24. Markets in Australia remained shut for Easter, while Hong Kong and Shanghai were closed for a traditional Chinese holiday.
Investor sentiment remained cautious as the Tuesday deadline set by Trump for Iran to reopen the Strait of Hormuz drew closer. Analysts fear the conflict could escalate further if the deadline passes without progress.
Over the weekend, Trump issued fresh threats against Iran even as bombing continued in the region. The United States also rescued two aviators after their fighter jet was shot down by Iran.
Oil prices remained elevated amid concerns that the Iran war could last longer than expected and further disrupt energy supplies. Benchmark U.S. crude rose 38 cents to $111.92 a barrel, while Brent crude, the international benchmark, climbed $1.71 to $110.74 a barrel. Energy markets were closed on Friday, but prices have surged sharply in recent sessions on fears of prolonged conflict.
U.S. markets were closed on Friday for Good Friday and were set to reopen on Monday. Some European markets also remained shut on Friday.
In the currency market, the U.S. dollar edged up to 159.65 Japanese yen on Monday from 159.63 yen. The euro slipped to $1.1509 from $1.1517.
Gold, Silver rate today
Gold and Silver rates today declined, tracking a broader fall in precious metals as a stronger U.S. dollar, rising Treasury yields, and fading hopes of U.S. Federal Reserve interest rate cuts weighed on investor sentiment. The weakness came even as geopolitical tensions in the Middle East intensified, lifting oil prices and raising concerns about inflation.
In the international markets, Spot silver fell 1% to $72.28 per ounce, while spot gold dropping 1.2% to $4,620.68 per ounce, and U.S. gold futures for April delivery also slipped 0.7% to $4,647.10. Other precious metals also traded lower, spot platinum shedding 0.5% to $1,979.42, while palladium edged 0.1% higher to $1,504.34.
The decline in silver and other precious metals came as the 10-year U.S. Treasury yield and the dollar index moved higher, making dollar-priced bullion more expensive for overseas buyers and reducing the appeal of non-yielding assets such as gold and silver.
The pressure on precious metals also intensified after hopes of U.S. interest rate cuts faded further. Gold had already extended its losses as the escalating war in the Middle East heightened concerns around energy supply disruptions and inflation risks. At the same time, a surprise drop in U.S. jobless claims reduced expectations that the Federal Reserve would ease monetary policy anytime soon.
Stay tuned to this segment for the live updates on the Indian stock market today.