Indian equity markets ended a volatile week on a strong note, snapping a two-week losing streak amid improving global sentiment and supportive measures from the Reserve Bank of India (RBI) aimed at attracting foreign currency inflows.
The upcoming week is expected to be driven by a combination of domestic macroeconomic releases and major global policy developments. Developments related to the US–Iran peace deal and their implications for crude oil prices and the Strait of Hormuz will continue to influence global risk sentiment.
Share markets surged in Asia on Monday as a tentative peace deal between the United States and Iran promised to ease inflationary pressures globally and lessen the need for higher interest rates.
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a gap-up start
GIFT Nifty on the NSE IX traded higher by 265 points, or 1.12 per cent, at 23,960, signaling that Dalal Street was headed for a gap-up start on Monday.
- Tech View: The immediate hurdle is the 50-DMA, placed around 23,720. A decisive move above this level could open the door for a rally towards 24,000 in the near term. On the downside, 23,500 remains the key psychological support, followed by the strong double-bottom support at 23,070.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 6% to settle at 14.72 levels.
US stocks end higher
US stocks closed higher on Friday as investors remained optimistic about a potential peace agreement between Iran and the United States. Meanwhile, shares of SpaceX soared in their market debut, marking the largest public listing in Wall Street history.
Asian stocks surge
Share markets surged in Asia on Monday while the dollar slipped and oil prices tumbled as a tentative peace deal between the United States and Iran promised to ease inflationary pressures globally and lessen the need for higher interest rates.
Oil slips
Oil prices slipped to their lowest since March on Monday after U.S. President Donald Trump and Iran's deputy foreign minister said they had reached an initial deal to end the war and to resume traffic through the Strait of Hormuz.
Dollar slides
The U.S. dollar slid on Monday to a 10-day low against its major peers as news the United States had agreed to a peace deal with Iran sent oil prices tumbling and boosted demand for riskier assets.
Gold gains
Gold rose more than 1% on Monday, after U.S. and Iran officials said they had reached a deal to end their conflict, pushing oil prices lower and easing concerns about inflation and higher interest rates.
Stocks in F&O ban today
1) Kaynes
Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.
FII/DII action
Foreign portfolio investors net sold shares worth Rs 1,082 crore on Friday. DIIs, meanwhile, were net buyers at Rs 5,341 crore.
Rupee
The Indian rupee surged at 95.11 against the dollar on Friday as growing expectations of a US-Iran peace agreement sent oil prices sharply lower and triggered an unwinding of long dollar positions.
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