The Nifty50 and the Sensex rebounded from a two-day slump, tracking gains in global equities as Brent crude price eased after US President Donald Trump signaled an end to war. As of 9:17 AM, the Nifty50 was trading 0.58 per cent or 143.35 points higher at 24,167.40, and the Sensex was trading 0.62 per cent or 491.68 points higher at 78,030.20.
Global Cues
South Korea’s Kospi jumped over 6 per cent to lead the recovery rally in the region, and Japan’s Nikkei 225 rose over 5 per cent.
Meanwhile, US stock futures declined after the US President Donald Trump signalled that the war with Iran may come to an end soon. He also warned that Iran would be hit 20 times harder if the country blocks oil supply from the Strait of Hormuz.
The Dow Jones Industrial Average and S&P 500 futures were trading 0.22 per cent and 0.25 per cent down, respectively.
Overnight, the Dow Jones Industrial Average and S&P 500 indices ended 0.5 per cent and 0.83 per cent higher, respectively.
Brent crude prices declined 11 per cent to $88.05 per barrel on Tuesday so far following Trump’s remarks. It was trading 10.37 per cent down at $88.70 per barrel as of 7:20 AM, according to data on Bloomberg.
Gold and silver futures rose on Tuesday as the dollar index declined on hopes for easing US-Iran tensions in the near future. Gold and Silver futures were trading 1.55 per cent and 6.06 per cent higher, respectively.
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