Sensex, Nifty 50 | Stock Market Highlights: The Indian stock market closed in the green, following upbeat global market cues, amid signs of easing US-Iran tensions in the Middle East. Signals from local assembly election results of four states and one Union Territory also supported sentiment.
Sensex ends 355 points or 0.46% higher at 77,269 amid election result-led optimism. However, it declined sharply from the day’s peak of 77,911. Nifty 50, meanwhile, closed at 24,119, up 122 points or 0.51% after hitting a high of 24,290 in intraday deals.
Broader markets supported the rally as the Nifty Smallcap 100 and the Nifty Midcap 100 indices rose up to 0.70%.
“Investor sentiment remained supported by a favourable election outcome in West Bengal and a better-than-expected Q4 earnings, helping markets look past Middle East-related concerns. However, intermittent profit booking persisted amid uncertainty surrounding the U.S. “Project Freedom” initiative to reopen the Strait of Hormuz,” said Vinod Nair, Head of Research, Geojit Investments.
Gold Rate Today
Gold and silver prices in India traded lower, following weakness in global bullion prices, amid inflation worries that clouded the US monetary policy outlook.
MCX gold rate opened lower at ₹1,51,150 per 10 grams as against previous close of ₹1,51,352 level. MCX silver price opened lower at ₹2,50,699 per kg as against its previous close of ₹2,50,937 level.
In the international market, spot gold price declined 0.3% to $4,599.45 per ounce, while US gold futures for June delivery fell 0.7% to $4,611.40. Spot silver price rose 0.1% to $75.38 per ounce.