Sensex Today, Nifty 50 | Stock Market LIVE: The Indian stock market traded lower on Tuesday, April 7, as investors remained cautious over the latest developments in the intensifying US-Iran war in the Middle East.
The Sensex opened 372.49 points, or 0.50%, lower at 73,734.36, while the Nifty 50 declined 129.55 points, or 0.56%, to open at 22,838.70. The Bank Nifty index opened at 52,258.70, down 350.40 points, or 0.67%.
Broader markets were mixed as the Nifty Midcap 100 index declined 0.5%, while the Nifty Smallcap 100 index was up 0.2%.
Among sectors, Nifty Auto, Nifty PSU Bank, Nifty Oil & Gas, and Nifty Private Banks led losses, while Nifty IT and Nifty Metals were trading higher.
On the global front, Asian markets traded higher, while the US stock market gained overnight, with all three Wall Street indices closing higher.
Crude Oil Prices
Crude oil prices extended gains as Trump threatened stronger action on Iran if it fails to reopen the Strait of Hormuz, a key global oil transit chokepoint. Brent crude futures rallied 1.52% to $111.44 a barrel, while US West Texas Intermediate crude futures jumped 2.71% at $115.46.
Gold Rate Today
Gold and silver prices in India opened lower. MCX gold rate for June expiry contract opened 0.14% lower at ₹1,49,759 per 10 grams as against its previous close of ₹1,49,981 level.
MCX silver rate for May futures expiry opened 0.59% lower at ₹2,32,000 per kg as against its previous close of ₹2,33,379 level.
In the international markets, gold prices were steady amid cautiousness ahead of a deadline set by US President Donald Trump on reopening the Strait of Hormuz. Spot gold price was steady at $4,646.69 per ounce, while US gold futures for June delivery fell 0.2% to $4,674.40. Spot silver price fell 0.9% to $72.11 per ounce.
Stay tuned to this segment for the live updates on the Indian stock market today.