Stock Market Today, June 12, Closing Bell: 30-share BSE Sensex gained 2.30 per cent or 1695.40 points to end at 75,527.95, while NSE Nifty50 rose 1.99 per cent or 461.30 points to end at 23,622.90, respectively.
The Indian stock market sharply rallied on Friday, with benchmark indices Sensex and Nifty surging more than 2 per cent each as US-Iran peace deal hopes, falling oil prices and other factors boosted investor sentiment.
30-share BSE Sensex gained 2.30 per cent or 1695.40 points to end at 75,527.95, while NSE Nifty50 rose 1.99 per cent or 461.30 points to end at 23,622.90, respectively.
Meanwhile, the Indian rupee ended up 0.7 per cent at 95.11 per US dollar against the previous close of 95.76.
Dilip Parmar, Research Analyst, HDFC Securities said, “The Indian the rupee claw back Thursday’s losses, buoyed by improving market sentiment as global crude prices eased and the US dollar softened on hopes of a US-Iran diplomatic breakthrough. Anticipation of restored energy supplies also dragged domestic bond yields lower, tempering inflation anxieties.”
“While the rupee has been consolidating in a tight 94.70 to 95.80 range since the start of June. From a technical perspective, spot USDINR is to remain tilted toward the downside unless 95.80 is breached, leaving the door open for a move toward 94.70 and 94.50,” Parmar said.
