Benchmark indices Sensex and Nifty ended sharply higher on June 12, tracking a strong global rally as global oil prices fell sharply amid renewed optimism surrounding a potential USโIran diplomatic breakthrough and reports that President Donald Trump had called off planned military strikes against Iran. The 30-share BSE Sensex surged 1,695.40 points or 2.30 per cent at 75,527.95. During the day, it hit a high of 75,608.02 and a low of 74,453.39, gyrating 1,154.63 points. The 50-share NSE Nifty zoomed 461.30 points or 1.99 per cent to settle at 23,622.90. The broader market outperformed the benchmarks today, with the BSE MidCap Select Index and the BSE SmallCap Select Index rising more than 2.5 per cent each. While the BSE Midcap Select Index gainedย 450.58 points, the BSE Smallcap Select Index was up by 225.96 points.ย
International crude oil prices fell with Brent crude – the global oil benchmark – trading lower by 4.25 per cent at USD 86.54 per barrel in futures trade.
Top gainers and losersย
Among the 30-Sensex firms, Bajaj Finance, Larsen & Toubro, Indigo, Titan, and HDFC Bank were the major gainers. The shares of Bajaj Finance closed with a gain of 5.56 per cent today. On the flip side, Tech Mahindra and Power Grid were among the laggards. The shares of TECHM closed with a dip of 2.24per cent today.
On Friday, shares of 28 of the 30 Sensex companies closed in the green, while the remaining two closed in the red. On the other hand, shares of 39 of the 50 Nifty 50 companies closed in the green, while the remaining 11 closed in the red.ย
“A major positive for India was the sharp decline in crude oil prices. As concerns around supply disruptions and Strait of Hormuz risks eased, oil prices corrected significantly. Lower crude prices directly benefit India by reducing import costs, easing inflationary pressure and improving the broader macroeconomic outlook,” said Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth.
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