Sensex, Nifty 50 | Stock Market Highlights: The Indian stock market closed with minor gains on Monday, following mixed cues from global markets amid cautiousness over the escalation of the US-Iran tensions in the Middle East.
The Sensex rose 0.03% and the Nifty 50 added 0.05% today. The broader market indices underperformed as the Nifty Midcap 100 index declined 0.18% and the Nifty Smallcap 100 index lost 0.45%.
Sectorally, the trend was mixed. Nifty Media emerged as the top gainer, with a 0.90% rise, followed by the Nifty PSU Bank index, which added 0.87%. On the other hand, the Nifty IT pack declined the most. Nifty Realty also faced losses.
Over the weekend, US-Iran tensions escalated after the US forcibly seized an Iranian-flagged cargo ship that tried to get around a naval blockade near the Strait of Hormuz, and Tehran’s top military command vowed to retaliate.
Crude Oil Prices
Crude oil prices jumped as Iran re-imposed its de facto closure of the Strait of Hormuz. Brent crude oil price rallied 6.10% to $95.89 a barrel, while the US West Texas Intermediate (WTI) crude futures surged 7.49% to $90.13 a barrel.
Gold Rate Today
Gold and silver prices in India declined, following weakness in global bullion prices. MCX gold rate for June futures contracts traded lower by ₹1,669, or 1.08%, at ₹1,52,940 per 10 grams. MCX silver rate for May futures contracts declined by ₹4,743, or 1.84%, to ₹2,52,399 per kilogram.
In the international market, gold prices fell more than 1% as the dollar firmed. Spot gold price fell 1.4% to $4,762.09 per ounce, while US gold futures for June delivery dropped 2% to $4,781.90. Spot silver price declined 1.7% to $79.42 per ounce.
Stay tuned to this segment for live updates on Indian stock market today.