GIFT Nifty

The GIFT Nifty, an early indicator for the benchmark Nifty 50, was up 0.17% at 24,067 as of 12:06 p.m. US S&P 500 futures gained 0.15%, while European Euro Stoxx 50 futures were down 0.29%, indicating a cautiously positive start for global markets.

India Market Recap

Indian equity benchmarks extended their winning streak for the third consecutive session, supported by positive sentiment and F&O expiry-led buying activity. The NSE Nifty 50 gained 135.25 points, or 0.57%, to close at 23,989.15, while the BSE Sensex advanced 544.15 points, or 0.71%, to settle at 76,808.48. Market sentiment remained constructive amid easing geopolitical concerns and improving global risk appetite. On the technical front, Nifty support is placed in the 23,800–23,900 zone, while resistance is seen between 24,100 and 24,200.

US Market Recap

Wall Street traded largely sideways after the strong rally witnessed in the previous session following progress in US-Iran negotiations. The S&P 500 and Nasdaq Composite opened nearly unchanged as investors paused to assess the next phase of diplomatic discussions. However, the Dow Jones Industrial Average continued to edge higher after closing at a record level earlier in the week. Technology stocks remained in focus, with SpaceX extending its rally and supporting gains in growth-oriented sectors.

Commodity Check

Crude oil prices remained near three-month lows as investors continued to assess the possibility of a US-Iran agreement and the potential reopening of the Strait of Hormuz. Brent crude traded near $79 per barrel, while WTI crude remained below $77 per barrel after falling nearly 16% over the previous four trading sessions. The sharp correction in oil prices reflects expectations of improved supply conditions and a reduction in geopolitical risk premiums, which could provide support to global growth and ease inflationary concerns.

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