Opening Bell: Sensex Rises 257 Points, Nifty 50 Opens Above 24,150 Despite Global Weakness; Crude Oil, Gold Gain
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The BSE Sensex opened 257 points, or 0.33 per cent, higher at 77,444.45, while the Nifty 50 started the session at 24,163, gaining 91 points, or 0.38 per cent.
✨ Key Takeaways
Indian equity markets opened higher on Friday, outperforming weak global market trends. The BSE Sensex opened 257 points, or 0.33 per cent, higher at 77,444.45, while the Nifty 50 started the session at 24,163, gaining 91 points, or 0.38 per cent.
Market sentiment remained supported despite rising geopolitical tensions and uncertainty across global markets. Investors continued to track developments in the Middle East, crude oil movement, and overseas market cues.
Crude oil prices edged higher on Friday as tensions between the U.S. and Iran intensified. The U.S. carried out a sixth consecutive night of airstrikes targeting key Logistics infrastructure and strategic port facilities, including Bandar Abbas. Meanwhile, an expanding U.S. naval blockade has disrupted regional shipping activity.
Iran has responded by launching missile attacks on U.S. military bases in neighbouring countries and warned of a possible closure of the Strait of Hormuz, a key global oil transit route. The July crude oil futures contract was trading at USD 85.34 per barrel, up 1.1 per cent.
Precious metals also traded slightly higher amid safe-haven demand. Spot gold prices increased 0.3 per cent to USD 3,989 per ounce, while spot silver gained 0.3 per cent to USD 55.6 per ounce.
Disclaimer: The article is for informational purposes only and not investment advice.