Sensex, Nifty 50 | Stock Market LIVE: Sensex in red, Nifty 50 holds 24,300; Paytm, Bajaj Auto rally after Q4 results
Sensex, Nifty 50 | Stock Market LIVE: The Indian stock market opened higher on Thursday, following a rally in global markets amid hopes of a resolution to the US-Iran war in the Middle East.
The Sensex opened 380.72 points, or 0.49%, higher at 78,339.24, while the Nifty 50 opened up 67.55 points, or 0.28%, at 24,398.50. The Bank Nifty index gained 132.95 points, or 0.24%, to open at 56,114.00.
Broader markets gained, with the Nifty Smallcap 100 and the Nifty Midcap 100 indices rising over half a percent each.
Among sectors, Nifty Auto, Nifty Media, Nifty Metals, Nifty Pharma and Nifty IT witnessed gains, while Nifty FMCG, Nifty Realty and Nifty Private Banks declined.
Cautiousness over the volatility in the crude oil prices and ongoing Q4 results kept a check on gains.
Globally, Asian markets traded mixed, with Japan’s Nikkei hitting record high, while the US stock market ended higher overnight, with the S&P 500 and Nasdaq surging to record-high closes.
US President Donald Trump predicted that the war in Iran will be over quickly. Iranian foreign ministry spokesman Esmaeil Baqaei told local media that the “US plan and proposal are still under review.” Reports said that Iran has also laid out an updated process for ships seeking to transit Strait of Hormuz.
Gold Rate Today
Gold prices rose for a third straight session, supported by a softer dollar as hopes grew for a potential peace deal between the United States and Iran.
Spot gold price gained 0.3% to $4,701.19 per ounce, after rising about 3% on Wednesday to hit its highest level since April 27. US gold futures for June delivery rose 0.4% to $4,710. Spot silver price rose 0.5% to $77.68 per ounce.
Stay tuned to this segment for live updates on Indian stock market today.
