Indian equity benchmarks witnessed a cautiously positive start on Thursday, with investors weighing strong global market momentum against renewed geopolitical tensions in West Asia and rising crude oil prices.
The BSE Sensex started the session near 78k, jumping more than 70 points, while the NSE Nifty50 opened trading around 24,400, rising nearly 50 points, as of 9:15 AM.
GIFT Nifty Signals Flat-To-Positive Opening
GIFT Nifty futures were quoted at 24,439, down 7.9 points or 0.03 per cent, reflecting a cautious undertone as traders tracked developments in the US-Iran conflict and movements in crude oil prices.
However, in the pre-open session around 9:07 AM, the Sensex was up 380.98 points, or 0.49 per cent, at 78,339.50, while the Nifty gained 67.55 points, or 0.28 per cent, to trade at 24,398.50.
Global Markets Rally; Nikkei Crosses Historic 62,000 Mark
Asian markets traded largely higher on Thursday, supported by optimism in global equities.
Japan’s Nikkei 225 surged more than 5 per cent and crossed the 62,000 mark for the first time after markets reopened following an extended holiday break. Hong Kong’s Hang Seng also traded firmly higher, while China’s CSI 300 remained largely flat.
The positive momentum followed another strong session on Wall Street overnight. The S&P 500 and Nasdaq Composite scaled fresh record highs, while the Dow Jones Industrial Average also ended sharply higher, driven by continued strength in technology and growth stocks.
US-Iran Tensions Push Oil Prices Higher Again
Investor sentiment, however, remained cautious amid renewed tensions between Washington and Tehran.
Crude oil prices edged higher after US President Donald Trump warned Iran of intensified military action if a peace agreement was not reached. The remarks reignited concerns around the stability of the Strait of Hormuz, a critical global oil transit route.
Brent crude futures rose around 0.56 per cent to trade near $101.84 per barrel in Asian trading hours.
Gold, Silver Gain Amid Safe-Haven Buying
Precious metals also moved higher as geopolitical uncertainty boosted demand for safe-haven assets.
Gold futures climbed 0.72 per cent, while silver futures advanced 1.82 per cent in early trade.
Markets Rally After Trump Signals Progress In Iran Talks
Indian markets had ended sharply higher in the previous session after comments from President Trump indicating progress in negotiations with Iran boosted investor confidence.
The BSE Sensex jumped 940.73 points, or 1.22 per cent, on Wednesday, while investor wealth surged by nearly Rs 6 lakh crore as easing crude oil prices lifted sentiment.
Reports that the US had suspended “Project Freedom”, a mission to escort ships through the Strait of Hormuz, added to hopes of a possible de-escalation in the region.
