Stock Market
Dalal Street shock: Sensex wipes out morning gains in massive market reversal
Mumbai/IBNS: The Indian stock market opened higher on Friday before witnessing a sharp correction during afternoon trade, media reports said.
Sensex Gives Up Early Gains
The BSE Sensex had climbed nearly 200 points during the first hour of trading but later erased all gains to tumble around 700 points in the subsequent session.
However, the benchmark index recovered partially and trimmed losses to nearly 300 points as trading moved towards the closing hour.
Nifty Slips Below 23,800
The NSE Nifty 50 also witnessed heavy volatility, falling sharply from the day’s high to trade below the 23,800-mark after the positive momentum seen at the opening bell faded during the session.
Oil Prices Ease Amid Ceasefire Reports
Meanwhile, crude oil prices softened after reports suggested a possible ceasefire agreement between the United States and Iran.
The development had briefly boosted global investor sentiment earlier in the day before markets turned volatile again.
Global trigger: US–Iran ceasefire reports
Investor mood was influenced by reports suggesting that Washington and Tehran have agreed to a 60-day ceasefire extension.
However, the deal is yet to receive formal approval from US President Donald Trump.
According to media reports, Trump has been briefed on the development but is expected to take a final decision in the coming days.
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