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US-Iran exchange fire at Strait of Hormuz| Oil prices resume climb | Nifty finds resistance at 24350
Global markets remain on edge as rising US-Iran tensions near the Strait of Hormuz push oil prices higher and trigger volatility across equities. Dow Jones Industrial Average, S&P 500 and Nasdaq Composite see profit booking while Brent crude stays above $100/barrel. Back home, NIFTY 50 struggles near key resistance, even as midcaps hit record highs. Markets also react to major earnings from State Bank of India , Titan Company , Bank of Baroda and others. Stay tuned for market outlook, top stocks, crude oil movement, rupee action, and global cues driving today’s trade.
Taking Stock: Nifty below 24,200, Sensex slips 516 pts amid global tensions; IT stocks shine
Among sectors, except IT, Healthcare, Consumer Durables and FMCG, all other indices ended in the red with PSU Bank index slipped 3%, Oil & Gas index shed 1%, while Private Bank, Metal, Energy, Power, Realty down 0.5% each.
Bank Nifty crashes up to 1.7% amid surge in crude prices, weak SBI Q4; what lies ahead?
A rise in crude oil prices is seen as negative for Indian banks as higher oil prices can increase inflationary pressures.