A good rise is being seen in the stock market on Tuesday i.e. 24th March. Where the Sensex was seen moving forward with a gain of about 1700 points. On the other hand, Nifty once again crossed the level of 23 thousand points. By the way, the script of this rise had been written about 18 hours in advance. When US President Donald Trump said that he would not attack Iran for 5 days. After that there was a 15 percent decline in the price of crude oil.
By the way, the prices of crude oil are once again visible at $ 100 per barrel. On the other hand, an increase in the rupee is also being seen. A day ago, the rupee had crossed the level of 94 against the dollar. But after signs of recession in Iran war, it closed at the level of 93.50. Even today a rise of 20 paise is being seen in the rupee. There was a rise in GIFT City and relief was also seen in the global stock markets. Because of all these scoundrels, India's stock markets got support. Due to which stock market investors got a profit of about Rs 9 lakh crore.
According to experts, the situation has not improved that much yet. Iran has clearly said that no peace talks have been done by America and Israel. This means that in the coming days, Gulf countries may once again be seen at tension peak. Let us also tell you what kind of figures are being seen in the stock market.
Tremendous growth is being seen in the stock market on Tuesday. Bombay Stock Exchange's main index Sensex showed a rise of about 1,667.28 points at 74,363.67 points. Whereas at 1:10 pm the Sensex is trading at 74,093.40 points with a rise of 1400 points. However, the Sensex had opened at 74,212.47 points. Whereas a day earlier, the Sensex had seen a fall of more than 1800 points and reached its lowest level in almost two years and closed at 72,696.39 points.
On the other hand, the main index of National Stock Exchange, Nifty, was also seen trading at a good pace and once again crossed the level of 23 thousand points. During the trading session, Nifty rose by about 490 points and reached the day's high of 23,026.10 points. Whereas Nifty was trading at 22,963.70 points with a rise of 400 points at 1:10 pm. However, a day ago a big fall was seen in Nifty.
Shares of Asian Paints were among the top gainers on Sensex, rising more than 3% in the morning. After this came IndiGo, Titan, Eternal, L&T, Bharat Electronics (BEL) and other stocks, which saw a rise of 2-3 percent. Power Grid and Infosys were the only stocks on the index that suffered losses, falling up to 1 per cent. All the sectoral indices of NSE opened in the green, with Nifty Auto and Nifty PSU Bank leading the way with gains of about 2% each. About 2,318 shares saw gains on the stock exchange, while 226 shares declined and 58 shares remained unchanged.
In a post on Truth Social, Trump said the US and Iran had a very good and productive conversation over the past two days about "resolving completely and permanently" the growing hostilities in the Middle East. He further said that talks would continue throughout the week, and a halt to military attacks would depend on the success of the ongoing meetings and discussions.
He said that I am happy to say that in the last two days, there have been very good and useful talks between America and the country of Iran regarding the complete and permanent solution of our enmity in the Middle East. Based on the tone and tenor of these deep, detailed, and constructive conversations, which will continue throughout the week, I have directed the War Department to postpone for five days any military strikes against Iranian power plants and energy infrastructure, provided the ongoing meetings and discussions are successful.
However, Iran has refused to negotiate with the US, and a Wall Street Journal report claimed that Saudi Arabia and the UAE are moving to join the fight against Tehran. Apart from this, despite Trump's announcement, some gas facilities of Iran were attacked, due to which investors were worried.
After Trump's announcement late Monday night, oil futures fell nearly 15 percent to below the $100 per barrel mark. However, as investors continued to assess Iran's denials and other negative events, oil prices rose again. On Tuesday morning, Brent crude futures rose almost 4 percent to $ 104 per barrel.
The surge, which sent oil prices above the crucial $100 a barrel mark this month – the first since Russia invaded Ukraine in 2022 – began after US and Israeli military strikes that killed Iran's former supreme leader Ayatollah Khamenei. Iran effectively closed the Strait of Hormuz, and threatened to attack any ships attempting to pass through that vital waterway.
Although two India-bound tankers passed through the Strait of Hormuz on Monday, traffic through the waterway is still disrupted due to the war, blocking shipments of about a fifth of the world's oil and liquefied natural gas.
After hitting its all-time low in several consecutive sessions, the rupee strengthened again against the US dollar on Tuesday. The Indian currency opened 0.36 per cent higher at 93.6375 against the US dollar, while it had closed at 93.9750 in the previous session.
Trump's announcement provided much-needed relief to global markets, which had been badly hit so far in March due to ongoing tensions in the oil-rich Middle East. South Korea's Kospi rose more than 2 percent on Tuesday morning, while Hong Kong's Hang Seng gained nearly 1.8 percent. At the same time, Japan's Nikkei remained up by about 0.8 percent. Yesterday Wall Street also closed with gains. The Dow Jones Industrial Average and Nasdaq Composite both gained about 1.4 percent, while the S&P 500 gained 1.15 percent.
