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Markets Brace for US-Iran Peace Deal Impact
29 May
Summary
- Indian stock market expected to open cautiously on Friday.
- US and Iran reportedly nearing a draft agreement for ceasefire extension.
- US markets closed higher, with Nasdaq and S&P 500 reaching record highs.
Indian stock market benchmarks, Sensex and Nifty 50, are poised for a cautious opening on Friday. This sentiment stems from ongoing investor focus on a potential US-Iran peace deal. Reports suggest the two nations are close to a draft agreement to extend their ceasefire for 60 days.
On Thursday, the Indian equity market was closed for the Bakri Id holiday. The previous trading day, Wednesday, saw both the Sensex and Nifty 50 close lower, extending previous session losses. The Sensex fell 141.90 points to 75,867.80, and the Nifty 50 dipped 6.55 points to 23,907.15.
Globally, Asian markets experienced a rally, and US stock markets concluded with gains. The S&P 500 and Nasdaq achieved record closing highs. Key US tech stocks like Nvidia, AMD, and Microsoft saw notable share price increases.
