Stock Market Today Highlights: The Indian stock market ended on a positive note on Friday, following gains in global equities, despite concerns over the fragile two-week US-Iran ceasefire deal. Investors will not keenly track the US-Iran talks scheduled to take place in Islamabad over the weekend.
The benchmark BSE Sensex closed the day at 77,550.25, up 918.60 points or 1.20%, while the NSE Nifty 50 ended 275 points or 1.16% higher at 24,050.
On the weekly chart, Nifty surged 5.89%, marking its best weekly close since the 27th Jan–1st Feb 2021 period. With this move, the index has fully recouped the losses of the past three weeks, suggesting that buyers are gradually regaining control and strengthening the underlying trend, said Sudeep Shah – Head of Technical and Derivatives Research at SBI Securities.
Broader markets outperformed, as the Nifty Smallcap 100 and the Nifty Midcap 100 indices rallied over 1.5% each.
Among sectors, Nifty Metals, Nifty Auto, Nifty Private Bank, Nifty Media, Nifty PSU Bank, Nifty Realty and Nifty Oil & Gas gained over 1% each, while Nifty IT was the only one to end in the red.
In the Middle East, Iran’s new Supreme Leader Mojtaba Khamenei stated that Iran would not allow the US and Israel to escape consequences for what he called their aggression. Meanwhile, US President Donald Trump appears to be questioning how effective the ceasefire halting the Iran war really is.
Gold Rate Today
Gold prices fell as the dollar firmed, but the metal remained on course for a third consecutive weekly gain as renewed US-Iran ceasefire optimism softened inflation fears and expectations for higher US interest rates.
Spot gold price declined 0.2% to $4,755.84 per ounce. US gold futures for June delivery fell 0.8% to $4,779.20. Spot silver price rose 0.1% to $75.11 per ounce.
Stay tuned to this segment for the live updates on the Indian stock market today.