Nifty Posts 0.5% Gain Amid Reports of Iranian Foreign Minister's Scheduled Visit to Pakistan
Market Update: Nifty Rises 0.5% Amid US-Iran Talks
The GIFT Nifty rose 0.5% on April 24 evening, driven by reports that Iranian Foreign Minister Abbas Araghchi may arrive in Islamabad on Friday night along with a small delegation for a second round of US-Iran talks. This development sent a positive signal to investors, contributing to the rise in the GIFT Nifty.
Global Market Trends Brent crude oil prices erased their gains to fall 1.2% to below $104 a barrel. The dollar also slid 0.2% as investors became risk-averse. In contrast, Treasuries advanced, with the 10-year yield down two basis points at 4.31%.
Indian Market Performance At 5:20 pm on April 24, the GIFT Nifty was trading 0.45% higher at 24,059.5. If this trend holds, the Nifty is likely to reclaim 24,000 on April 27.
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
| Market Indicator | April 24 Evening | Change |
|---|---|---|
| GIFT Nifty | 24,059.5 | +0.45% |
| Brent Crude Oil | $104 | -1.2% |
| Dollar | -0.2% | |
| 10-Year Yield | 4.31% | -2 basis points |
More in Market
Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline
Indian Stocks to Watch: BHEL, Agarwal Industrial, JBM Auto, Rajesh Exports, Indian Energy Exchange, Lenskart Solutions in Market Focus on June 4.
