Stock Market Today Highlights: The benchmark indices Nifty 50 and Sensex recovered over 2% from early losses to end 1% higher 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 ended 787.30 points or 1.07% higher at 74,106.85 while Nifty rose 255.15 points or 1.12% to settle at 22,968.25.
Sensex recovered 1479 points from its day’s low to day’s high of 74,207.46 while Nifty 50 advanced 455 points from its intra-day low to high of 22,998.35.
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 ended higher on Monday, as investors continued to closely monitor the war in Iran, volatile oil prices and potential comments from U.S. President Donald Trump.
Japan’s benchmark Nikkei 225 rose 0.6% to close at 53,413.68, while South Korea’s Kospi gained 1.4% to 5,450.33. Markets in Australia remained shut for Easter, while Hong Kong and Shanghai were closed for a traditional Chinese holiday. Markets in France, Germany and Britain were also closed in observance of Easter.
Meanwhile, oil prices dropped more than $2 in choppy trade as investors awaited clarity on the progress of talks between the U.S. and Iran, while remaining cautious about prolonged supply disruptions due to shipping issues.
Brent crude futures declined by $1.92, or 1.76%, to $107.11 a barrel at 1037 GMT. U.S. West Texas Intermediate crude futures fell 1.82%, or $2.03, to $109.50 per barrel.
The U.S. and Iran reportedly received a framework for a plan to end hostilities, but Iran rejected any immediate reopening of the Strait of Hormuz after Trump warned he would rain “hell” on Tehran if a deal was not reached by the end of Tuesday.
Iran also stated that it has outlined its positions and demands in response to recent ceasefire proposals conveyed through intermediaries.
The Strait of Hormuz — a key route for oil and petroleum shipments from Iraq, Saudi Arabia, Qatar, Kuwait and the United Arab Emirates — remains largely shut following Iranian attacks on shipping after the war began on February 28.
In currency trading, the U.S. dollar edged lower to 159.39 Japanese yen on Monday from 159.63 yen, while the euro strengthened to $1.1555 from $1.1517.
Gold, silver rates today
On the MCX, silver trimmed some of its earlier losses after reports of a diplomatic push for a ceasefire in the Iran war briefly improved sentiment. However, prices continued to face pressure as U.S. President Donald Trump intensified his rhetoric around the conflict, keeping global markets on edge.
Despite the partial recovery, broader macroeconomic factors kept precious metals under pressure. A stronger U.S. dollar, elevated Treasury yields and fading expectations of interest rate cuts by the U.S. Federal Reserve weighed on prices, while rising crude oil prices added to inflation concerns.
Renisha Chainani, Head of Research at Augmont, said market participants would closely monitor key triggers this week, including developments around the U.S.-Iran deadline, U.S. GDP data and the release of FOMC meeting minutes for further cues. She added that silver is expected to trade in a range of $67 (around ₹2,15,000) to $77 (around ₹2,42,000) during the week.