- Indian markets opened cautiously, influenced by positive global cues.
- US-Iran peace talks progressed; Iran closed Strait of Hormuz.
- Oil prices slipped while gold and silver gained globally.
Indian benchmark indices opened on a positive note on Monday, with the Sensex at around 77,200, up 400 points, and the Nifty near 24,100, gaining 73 points, as of 9:15 AM.
Investor sentiment remained influenced by firm GIFT Nifty indications, gains across Asian markets and movements in global commodities.
GIFT Nifty Points To Positive Start
The GIFT Nifty, an early indicator of the Nifty50, was trading higher at 24,148, up 90 points.
The stronger indication from the derivatives market suggested a positive start for domestic equities.
Sensex, Nifty Trade Higher In Pre-Open Session
During the pre-open session at around 9:02 AM, the Sensex stood at 76,937.11, up 134.21 points or 0.17 per cent.
The Nifty traded at 24,059.30, gaining 46.20 points or 0.19 per cent.
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Asian Markets Rally On Progress In Iran-US Talks
Most Asian markets advanced in early trade as investors reacted positively to signs of progress in peace talks between the United States and Iran.
Japan’s Nikkei 225 rose 2.05 per cent, while South Korea’s Kospi gained 1.07 per cent.
Asian markets moved higher despite fresh threats by US President Donald Trump to strike Iran again if Tehran does not stop proxy groups in Lebanon from causing trouble.
Wall Street Ends Higher Ahead Of New Week
US equities closed higher in the previous session.
The Dow Jones Industrial Average gained 0.48 per cent, while the S&P 500 advanced 1.08 per cent.
The Nasdaq Composite outperformed, ending 1.91 per cent higher.
Strait Of Hormuz Developments Remain In Focus
US Vice President JD Vance met Iranian officials in Switzerland for the first round of negotiations.
Iranian negotiators said progress had been made in discussions with the United States, helping ease concerns that negotiations could break down. Officials from Qatar and Pakistan also said the first round of talks had concluded and progress had been achieved on a roadmap aimed at reaching a final agreement within 60 days.
The talks were overshadowed by Iran’s announcement that it had again closed the Strait of Hormuz. Vessel-tracking data showed fewer ships moving through the route, with 32 vessels making the passage on Friday and 26 on Saturday.
Investors continued to monitor geopolitical developments in West Asia as diplomatic talks progressed.
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Oil Slips While Gold And Silver Gain
Brent crude’s June futures contract was trading 1.45 per cent lower at $79.40 per barrel on the Intercontinental Exchange.
Gold futures rose 0.86 per cent, while silver futures gained 1.72 per cent.
Gold rebounded from a more than one-week low as oil prices declined and progress in US-Iran peace talks improved sentiment. However, expectations of higher interest rates following hawkish signals from the US Federal Reserve continued to weigh on the metal’s outlook.
Oil gave up early gains as investors welcomed signs of diplomatic progress between the United States and Iran.
Market participants will track developments in US-Iran negotiations, movements in crude oil and precious metals prices, and activity in the Strait of Hormuz. Investors will also monitor global market trends, including gains in Asian equities, positive signals from GIFT Nifty and the performance of US markets.
