Stock Market Ends Higher on Hopes of Possible Peace Agreement
Positive global signals and expectations around a possible peace agreement supported market sentiment, helping benchmark indices close in positive territory despite volatile trading sessions.
Domestic stock markets finished the trading session with gains as investors reacted positively to improving global sentiment and hopes surrounding a possible peace agreement between the United States and Iran. Market confidence also received support from stronger banking and financial stocks.
Trading remained positive for most of the day, although benchmark indices gave up part of their early gains before closing. The Sensex had moved up by more than 600 points during intraday trading before ending with moderate gains, while the Nifty managed to close above the 23,700 mark.
The Sensex opened at 75,260.39 and continued to trade in positive territory throughout the session. During the day, it touched an intraday high of 75,810.97 before finally settling at 75,415.35, gaining 231.99 points. The Nifty also ended the session higher with a gain of 64.60 points to close at 23,719.30.
Market experts said domestic factors also helped improve investor mood. The Indian rupee strengthened by 63 paise against the US dollar and closed at 95.73, adding support to overall sentiment.
Among major gainers in the Sensex pack were Trent, Axis Bank, ICICI Bank, Asian Paints and Hindustan Unilever, which saw strong buying interest. Meanwhile, Sun Pharma, ITC, Power Grid Corporation, BEL and Bharti Airtel ended the day in negative territory.
In global commodity markets, crude oil prices continued trading around 105.07 dollars per barrel, while gold prices were seen trading around 4532 dollars per ounce. Investors are now expected to closely track international developments and their impact on future market movements.
