Sensex, Nifty 50 | Stock Market Highlights: The Indian stock market ended sharply lower on Friday, extending its losing run, as soaring crude oil prices and escalating US-Iran war in the Middle East dented sentiment.
Sensex ended 1000 points lower at 76,664.21, whereas Nifty 50 shed 275.10 points to settle at 23,898.
Meanwhile, in intra-day deals, the 30-share pack tumbled 1,260 points, or 1.6%, to an intraday low of 76,403.87, while the Nifty 50 plunged by 359 points or 1.5% to the day’s low of 23,813.65. Broader markets succumbed to selling pressure, with the Nifty Smallcap 100 and the Nifty Midcap 100 indices falling 0.8% and 0.9%, respectively.
All the sectoral indices were trading the red, with Nifty IT, Nifty Metal, Nifty Pharma, Nifty Media, Nifty Auto and Nifty Private Bank falling the most.
US President Donald Trump said Israel and Lebanon have agreed to extend a ceasefire between Israel and the Hezbollah militant group by three weeks. Trump also said that the US has full control over its blockade of measures against Iran, calling them effective.
Global Markets Today
Global markets traded mixed on Friday, with equities largely under pressure while oil prices remained elevated amid continued uncertainty over stalled US-Iran peace talks.
US futures showed a muted trend after Wall Street retreated from record highs, with S&P 500 futures inching up 0.1% while Dow futures slipped 0.2%. In Europe, Germany’s DAX declined 0.2%, France’s CAC 40 fell 1%, and the UK’s FTSE 100 dropped 0.6%, reflecting cautious sentiment.
Asian markets were mixed. Japan’s Nikkei 225 rose 1%, supported by strong buying in technology stocks after hitting a record intraday high above 60,000 earlier. Hong Kong’s Hang Seng edged up 0.2%, while China’s Shanghai Composite slipped 0.1%.
Meanwhile, the US dollar was set for its first weekly gain in three weeks, even as it dipped 0.1% to 98.75 on the day, tracking subdued trading conditions. The euro gained 0.1% to $1.169. Geopolitical tensions remained elevated, with Iran showcasing control over the Strait of Hormuz, keeping concerns over global oil supply intact and supporting crude prices.
Crude Oil Prices
Crude oil prices rose over fears of renewed military escalation in the Middle East. Brent crude futures rallied 1.17% to $106.3 a barrel, while West Texas Intermediate futures gained 1.12% to $96.92.
Gold Rate Today
Gold prices were steady, but on track for a weekly drop as elevated oil prices fuelled fears of inflation and higher-for-longer interest rates. Spot gold price rose 0.1% at $4,697 per ounce. The metal is down 2.6% so far this week after a four-week winning run, Reuters reported. US gold futures for June delivery fell 0.2% to $4,712.50. Spot silver fell 0.1% to $75.36 per ounce.
Stay tuned to this segment for live updates on Indian stock market today.