Stock Market Live Updates: Indian equity benchmarks are set to open lower as uncertainty lingers over US-Iran war. Meanwhile, domestic investors remain cautious after Prime Minister Narendra Modi urged citizens to save fuel use. PM Modi also asked people to not buy gold. As per investors, these are signals that India's forex reserves are under pressure.
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Oil Jumps As US, Iran Disagree On Peace Proposal
US and Iran failed to reach an agreement on a peace proposal. Brent crude jumped 3.5 per cent to about $105 a barrel after US President Donald Trump on Sunday dismissed the Iranian response to Washington's proposal for peace talks as "unacceptable".
Stock Market Today: Check Expert View By Rajesh Palviya
Rajesh Palviya, Head of Research, Axis Direct
The Nifty shed 150 points on Friday to finish at 24,176, its second consecutive daily loss, dragged by a 7% slide in SBI after weak NIMs and renewed US-Iran flare-ups. Wall Street, in contrast, closed at fresh records - the S&P 500 added 0.8% and the Nasdaq surged 1.7% - propelled by an upbeat April jobs print and a chip-led rally. Cues from Asia are mixed: Kospi has opened 3.7% higher on SK Hynix, the Nikkei is firmer, while Hang Seng futures and US index futures are softer. Brent is sticky near $101, gold trades at $4,730, silver at $80, and copper at $6.23. GIFT Nifty (-117 points) suggests a negative start. Technically speaking, 24,000 is the zone bulls must defend; unless and until a daily close above 24,340 is recorded, the prevailing bias stays cautious, with 23,800 the next pocket of support should that floor crack. One needs to adopt a stock-specific selective approach to play at this moment as earning season is going on
