GIFT Nifty

The GIFT Nifty, an early indicator for the benchmark Nifty 50, was down 0.70% at 24,002.5 as of 6:37 a.m. US S&P 500 futures gained 1.09%, while European Euro Stoxx 50 futures declined 0.38%, indicating a cautiously positive start for domestic markets.

India Market Recap

Indian equity benchmarks extended their winning streak for the fifth consecutive trading session, marking their longest rally since early April. The NSE Nifty 50 gained 82.30 points, or 0.34%, to close at 24,168, while the BSE Sensex advanced 254.36 points, or 0.33%, to settle at 77,409.98. The sustained rise reflects improving investor sentiment, supported by easing geopolitical concerns and strength in global markets. On the technical front, Nifty support is placed in the 23,900–24,000 range, while resistance is seen between 24,250 and 24,350.

US Market Recap

Wall Street rebounded strongly on Thursday after the formalisation of the US-Iran agreement and a sharp correction in crude oil prices. Investors looked beyond the previous session's Federal Reserve-led selloff, with risk appetite returning across sectors. The S&P 500 opened 1.19% higher at 7,508.44, while the Nasdaq Composite surged 1.5% to 26,425.68, supported by gains in technology stocks. The Dow Jones Industrial Average also opened nearly 400 points higher, rising 0.76% to 51,883.37.

Asian Market Update:

Asia-Pacific markets traded mixed on Friday, with South Korea's Kospi extending its record-setting advance and Japan's Nikkei 225 posting gains as investors monitored developments surrounding the Iran peace agreement and assessed the rebound in U.S. equities. South Korea's Kospi jumped 2.82%, while Japan's Nikkei 225 advanced 0.79%. Australia's ASX 200, however, fell 0.89%. China, Hong Kong and Taiwan markets were closed for a holiday.

Commodity Check

Crude oil prices remained under pressure and are on track for their steepest weekly decline in several months. Improving prospects for a gradual reopening of the Strait of Hormuz have eased concerns about global supply disruptions that had previously pushed energy prices higher during the US-Iran conflict. Brent crude slipped towards $79 per barrel and is down more than 9% for the week, while West Texas Intermediate traded near $75 per barrel. Lower oil prices are likely to provide relief to inflation expectations and support sentiment in oil-importing economies such as India.

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