Stock Market
Markets defy Iran war fears! Sensex jumps 300 points, Nifty crosses 23,500 despite oil surge
Mumbai/IBNS: The Indian stock market opened on a positive note on Thursday amid volatility triggered by the ongoing West Asia conflict, media reports said.
The BSE Sensex opened over 300 points higher before paring some gains later in the session, while the NSE Nifty 50 traded above the 23,500 mark at the opening bell.
The market showed resilience despite rising crude oil prices and the rupee touching fresh record lows amid continued uncertainty over the geopolitical situation and lack of progress in US-Iran ceasefire talks.
Gold and silver prices remained subdued amid developments surrounding the ongoing US-China trade discussions during US President Donald Trump's visit to Beijing.
The rupee slipped past the 95.79 mark against the US dollar, hitting a new all-time low.
Analysts said investors remain cautious as fears of a prolonged conflict in the Middle East continue to weigh on global markets.
As the country braces for the economic impact of the Iran conflict, Prime Minister Narendra Modi urged citizens to adopt austerity measures, including limiting gold purchases, using public transport, and reviving work-from-home practices that became common during the Covid-19 pandemic.
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