Sensex, Nifty Rally 5th Day on Lower Crude & US-Iran Deal
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Indian stocks Sensex & Nifty rallied for the fifth consecutive day, boosted by falling crude oil prices and optimism over a US-Iran peace agreement.
Mumbai, Jun 18 (PTI) Benchmark equity indices Sensex and Nifty ended in positive territory on Thursday, rallying for the fifth straight session, supported by encouraging developments on the geopolitical front and easing crude oil prices.
The 30-share BSE Sensex climbed 254.36 points, or 0.33 per cent, to settle at 77,409.98. During the day, the benchmark hit a high of 77,492.33 and a low of 76,953, gyrating 539.33 points.
The 50-share NSE Nifty edged higher by 82.30 points, or 0.34 per cent, to end at 24,168.
From the 30-Sensex firms, InterGlobe Aviation, Trent, Bharat Electronics, NTPC, State Bank of India, and HDFC Bank were among the biggest winners.
Infosys, Tech Mahindra, Maruti, and Tata Consultancy Services were among the laggards.
Brent crude, the global oil benchmark, dropped 2.23 per cent to USD 77.78 per barrel.
US President Donald Trump signed a Memorandum of Understanding (MoU) with Iran during a dinner at the Palace of Versailles in France on Wednesday to end the over three-month war.
"The domestic equities traded within a range, maintaining a positive bias as the initial optimism surrounding the US-Iran peace deal was tempered by hawkish remarks from the US Fed. Energy-driven inflationary pressures may prompt central banks to consider rate hikes in the latter half of the year, leading investors to adopt a cautious stance," Vinod Nair, Head of Research, Geojit Investments Ltd, said.
However, the sustained decline in crude oil prices and moderation in Indian bond yields could offset inflationary concerns in the second half of FY27, with market participants awaiting further clarity on the peace agreement, he added.
In Asian markets, South Korea's Kospi and Japan's Nikkei 225 index ended significantly higher, while Shanghai's SSE Composite index and Hong Kong's Hang Seng index settled lower.
Markets in Europe were trading on a mixed note.
US markets ended in negative territory on Wednesday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 101.59 crore on Wednesday, according to exchange data.
On Wednesday, the Sensex climbed 347.14 points, or 0.45 per cent, to settle at 77,155.62. The Nifty rallied 96.55 points, or 0.40 per cent, to end at 24,085.70.
The 30-share BSE Sensex climbed 254.36 points, or 0.33 per cent, to settle at 77,409.98. During the day, the benchmark hit a high of 77,492.33 and a low of 76,953, gyrating 539.33 points.
The 50-share NSE Nifty edged higher by 82.30 points, or 0.34 per cent, to end at 24,168.
From the 30-Sensex firms, InterGlobe Aviation, Trent, Bharat Electronics, NTPC, State Bank of India, and HDFC Bank were among the biggest winners.
Infosys, Tech Mahindra, Maruti, and Tata Consultancy Services were among the laggards.
Brent crude, the global oil benchmark, dropped 2.23 per cent to USD 77.78 per barrel.
US President Donald Trump signed a Memorandum of Understanding (MoU) with Iran during a dinner at the Palace of Versailles in France on Wednesday to end the over three-month war.
"The domestic equities traded within a range, maintaining a positive bias as the initial optimism surrounding the US-Iran peace deal was tempered by hawkish remarks from the US Fed. Energy-driven inflationary pressures may prompt central banks to consider rate hikes in the latter half of the year, leading investors to adopt a cautious stance," Vinod Nair, Head of Research, Geojit Investments Ltd, said.
However, the sustained decline in crude oil prices and moderation in Indian bond yields could offset inflationary concerns in the second half of FY27, with market participants awaiting further clarity on the peace agreement, he added.
In Asian markets, South Korea's Kospi and Japan's Nikkei 225 index ended significantly higher, while Shanghai's SSE Composite index and Hong Kong's Hang Seng index settled lower.
Markets in Europe were trading on a mixed note.
US markets ended in negative territory on Wednesday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 101.59 crore on Wednesday, according to exchange data.
On Wednesday, the Sensex climbed 347.14 points, or 0.45 per cent, to settle at 77,155.62. The Nifty rallied 96.55 points, or 0.40 per cent, to end at 24,085.70.
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