Sensex surges 500 points before losing steam, ends marginally higher after volatile trading session
Mumbai/IBNS: The Indian stock market surrendered most of its early gains on Thursday but managed to end the session in positive territory as investors turned cautious amid lingering geopolitical uncertainties.
The benchmark indices had opened on a strong note, buoyed by optimism despite renewed tensions in West Asia, but profit booking in the latter half of the session erased a large part of the rally.
Strong start for Sensex, Nifty
The BSE Sensex rose nearly 200 points at the opening bell before extending its gains to more than 500 points during early trade, reflecting resilient investor sentiment.
The NSE Nifty 50 also climbed over 150 points, reclaiming the 24,100-mark as buying interest emerged across key sectors.
Profit booking trims rally
However, the momentum faded as the day progressed, with investors booking profits after the sharp morning rally.
The Sensex gradually surrendered most of its gains before ending the session around 200 points higher, while the Nifty slipped below the 24,000 level by the close.
Markets remain watchful
Market participants remained cautious amid continuing uncertainty in global markets, particularly over developments in the Middle East and their potential impact on crude oil prices and investor sentiment.
Analysts said investors are likely to keep a close watch on geopolitical developments, foreign institutional investor (FII) activity, and global cues in the coming sessions, which could determine the market's near-term direction.
Oil prices surge amid Strait of Hormuz concerns
Crude oil prices climbed sharply after renewed military action in the Gulf reignited concerns over the security of the Strait of Hormuz, a strategic shipping route through which nearly one-fifth of the world's oil supply passes.
The United States claimed it had carried out strikes on around 90 Iranian military targets, saying the operation was aimed at safeguarding freedom of navigation and keeping the vital waterway open.
Any prolonged disruption in the Strait of Hormuz could significantly impact global energy supplies and push crude prices higher, analysts warned.
Fresh escalation between US and Iran
The latest flare-up comes after a fragile ceasefire appeared to collapse.
According to reports, Iran launched retaliatory attacks targeting US military installations in Bahrain and Kuwait following the American strikes. While the extent of the damage and casualties remains unclear, the exchange has heightened fears of a wider regional conflict involving multiple Gulf nations.
The renewed hostilities have also raised concerns over maritime security, regional energy infrastructure and global trade routes.
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