The last day of the week started with a rise in the stock markets. In early trade, Sensex was up by 500 points and Nifty was up by about 150 points and was running around 23940. During this period, Bank Nifty had jumped 700 points and was around 55,500. There was a rise of more than 1 percent in PSU Bank Index, due to which Bank Nifty is getting strong support. Apart from this, realty, auto and NBFC indices also rose by more than 1 percent.
There was a decline of more than 1 percent in the IT index. Except Wipro, all other major stocks remained in the red. Metal and healthcare indices also declined. India VIX was down 3.5%. Before the market opened, global and domestic signals appeared mixed. On one hand, US-Iran talks have raised hopes, while on the other hand, the rise in crude oil prices is raising concerns. GIFT Nifty is showing mild strength, while US futures are looking subdued ahead of inflation (CPI) data due today. Apart from this, result season and corporate news will also be in focus.
Market keeps an eye on ceasefire talks
Today an important conversation is going to take place between America and Iran to end the war. Along with this, Israel is also ready to discuss ceasefire with Lebanon. This development may reduce tension in the Middle East, which may provide relief to the market.
Crude oil prices rise again, supply concerns persist
Brent crude has increased by about 2 percent to $ 97 per barrel. According to Abu Dhabi, Iran’s approval is still required to pass through the Strait of Hormuz, causing uncertainty over supplies.
US market strong, close to record
There is a continuous rise in American markets. The Dow Jones gained 275 points, while the Nasdaq jumped nearly 200 points and closed with gains for the seventh consecutive day. These signals are supporting the global sentiment.
Slight rise in GIFT Nifty, keep an eye on CPI data
Gift Nifty is trading around 23,940, up by about 60 points. However, Dow futures are sluggish as investors await March CPI data due today.
Positive signs on India-US trade agreement
Good news has come regarding the trade deal between India and America. According to US Ambassador Sergio Gore, an Indian trade delegation will visit Washington this month, which will take the talks forward.
Selling of FIIs continues, support of DIIs
Foreign investors made net offloading of around ₹ 1920 crore yesterday including cash, index and stock futures. At the same time, domestic institutional investors purchased Rs 956 crore for the 29th consecutive day, which provided support to the market.
Strong rise in gold and silver
Gold rose by Rs 1650 to close at Rs 1,53,500, while silver rose by Rs 3850 to close at Rs 2,43,750. However, precious metals remained sluggish in the global market.
Strong results of TCS, eye on IT sector
Tata Consultancy Services has presented strong results in the fourth quarter. The company’s FY27 outlook and deal pipeline are also said to be strong, due to which action can be seen in IT stocks.