The Indian stock market has opened in green on Friday after the fragile ceasefire between Iran and the United States holds on despite escalatory remarks from both sides. Though the uncertainty in the region continues, as Pakistan hosts US and Iranian delegations for diplomatic negotiations, a lot is dependent on the outcome of the weekend talks.
The BSE Sensex climbed 700 points, up by nearly 1 per cent at 77,400, while the Nifty 50 gained 150 points or 0.60 per cent to open at 23,900, with the Bank Nifty index opening at 55,182, up 360 points or 0.66 per cent.
Among the top gainers of the market were Nifty Metals, Nifty Auto, Nifty Private Bank, Nifty Media, Nifty PSU Bank, Nifty Realty, and Nifty Oil & Gas, which gained over 1 per cent each, while Nifty IT and Nifty Pharma indices were trading in the red. Globally, Asian markets traded higher. The US equity markets ended higher on the previous trading session amid hopes of peace talks between the US and Iran.
Meanwhile, on Thursday night, Iranian Supreme Leader Ayatollah Mojtaba Khamenei said that Iran was going to hold both the US and Israel accountable for the crimes and aggression they committed against Iran.
Besides, gold prices have continued to witness a decline for the second consecutive week amid low demand, a strong dollar, high-yielding US Treasury bonds, and investor sentiment towards defence and energy stocks.
Spot gold price declined 0.2 per cent to $4,755.84 per ounce. US gold futures for June delivery fell 0.8 per cent to $4,779.20. Spot silver price rose 0.1 per cent to $75.11 per ounce.
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