Sensex, Nifty 50 | Stock Market LIVE Updates: The trends on Gift Nifty also indicate a positive start for the Indian benchmark indices. (Photo: REUTERS)Sensex, Nifty 50 | Stock Market LIVE Updates: The Indian stock market is expected to open higher on Monday, following mixed cues from global markets amid cautiousness over the escalation of the US-Iran tensions in the Middle East. The trends on Gift Nifty also indicate a positive start for the Indian benchmark indices.
The Gift Nifty was trading around 24,468 level, a premium of nearly 100 points from the Nifty futures’ previous close.
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 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 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.
US-Iran tensions escalated over the weekend 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.
Meanwhile, an AFP report said Iran is not currently planning to attend talks with the US, state media said, after President Donald Trump ordered US negotiators to travel to Pakistan on Monday, just days before a ceasefire in the Middle East expires.
Asian markets traded mixed on Monday as US-Iran tensions rose. Japan’s Nikkei 225 gained 0.62%, while the Topix rallied 0.68%. South Korea’s Kospi rose 0.27% while the Kosdaq dropped 0.52%. Hong Kong Hang Seng index futures indicated a higher opening.
The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 24,465 level, a premium of nearly 97 points from the Nifty futures’ previous close.
The Indian stock market is expected to open higher on Monday, following mixed cues from global markets amid cautiousness over the escalation of the US-Iran tensions in the Middle East.