Kolkata: Sensex 30 and Nifty 50 opened in the green following a decision of both the US and Iran to halt military strikes and attend the technical talks
in Doha, Qatar, to continue the peace dialogue that was threatened last week. At 9:20 AM, BSE Sensex 30 was trading at 77,161.82, up 0.080% or 61.35 points while Nifty 50 was at 24,102.60, up 0.19% or 46.60 points. However, both indices slipped into the red by 9:30 am. Crude oil prices crept up on Monday, June 29, following the strikes and counterstrikes by the two countries and reports that vessel movement was slowing down in the crucial Strait of Hormuz. Last week, Brent crude prices dipped as much as 10.6%. But traffic has slowed following renewed attacks on ships in the crucial Strait of Hormuz since Thursday, triggering concerns for the global energy market.
Prominent gainers and laggards
Prominent gainers in Sensex 30 were SUNPHARMA, ETERNAL, TRENT, ASIANPAINT, BAJAJFINSV, BAJFINANCE, TATASTEEL, TECHM, AXISBANK, POWERGRID. The prominent lossers in Sensex were TITAN, NTPC, LT, MARUTI, SBIN and BEL.
Markets last week
Last week, the BSE benchmark Sensex climbed 297.57 points, or 0.38% and NSE Nifty 50 rose by 42.9 points, or 0.17%. The geopolitical front, with the progress of the peace dialogue and discontinuation of the military exchanges between the US and Iran will be in focus, as will be the impact of the West Asia situation on crude oil prices will significantly determine the mood of the Indian stock markets, analysts said. The other determinants will be investment mood of the foreign investors and progress of the southwest monsoon. Among the key data to be watched will be Industrial Production or IIP, HSBC Manufacturing Services and Composite PMI readings and the foreign exchange reserves.
Asian indices
This morning major Asian indices were in showing a downward trend this morning. A few minutes before 9 AM, GIFT NIFTY was 0.04% up but the crucial Japan’s Nikkei 225 was 0.39% down. Straits Times was 0.11% down, Hang Seng was 1.93% up, Taiwan Weighted was 1.38% up but South Korea’s KOSPI was 1.91% down. Jakarta Composite was 0.48% down while Shanghai Composite was 0.32% up.
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