BSE and NSE Indices Bounce Back Despite Geopolitical Uncertainties
The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) indices opened marginally higher on Friday, despite concerns over elevated crude oil prices. The Sensex was up 62.60 points at 77,595.14, while the Nifty gained 10.65 points to reach 24,244.80.
The rise in the indices was attributed to positive global cues, with Asian markets such as South Korea's Kospi, Shanghai's SSE Composite index, and Hong Kong's Hang Seng index trading higher. However, Japan's Nikkei 225 traded lower due to geopolitical uncertainties.
Rajesh Palviya, Head of Research at Axis Securities, attributed the cautious global cues to the US-Iran tensions, which have driven up oil prices to near USD 93 a barrel. Ponmudi R, CEO of Enrich Money, added that President Donald Trump's comments on an 'economic war' against Iran have revived concerns over oil-driven inflation and prolonged geopolitical uncertainty.