Sensex, Nifty 50 | Stock Market LIVE Updates: The Indian stock market traded 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 0.18% while the Nifty 50 gained 0.16%. Broader markets, Nifty Smallcap 100 and Nifty Midcap 100 indices, traded up to 0.5% higher.
Among sectors, gains were seen in Nifty PSU Banks, Nifty Media, Nifty FMCG, Nifty Auto, and Nifty Pharma, while Nifty Metals was under selling pressure.
Globally, Asian markets traded mixed, while the US stock futures declined on uncertainty over the US-Iran peace talks as tensions rose.
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.