Indian Stock Market Live: Sensex Rallies 900 Points, Nifty Tops 23,200 as Oil Prices Ease

Indian Stock Market Live: Sensex Rallies 900 Points, Nifty Tops 23,200 as Oil Prices Ease

Stock Market Today (March 20) LIVE: The benchmark indices Sensex and Nifty have shown a significant jump in today’s trading session after falling steeply in the previous trading session. The Sensex has gained 883 points or 1.1 percent to reach 75,093 levels, whereas the Nifty has gained 254 points or 1.1 percent to reach 23,254 levels.

Stock Market Today (March 20) LIVE:

The Indian stock market opened on a strong note on Friday, tracking gains in Asian markets and supported by short-covering after the previous session’s sharp decline. Investor sentiment was further boosted by easing crude oil prices and a weaker US dollar.

The Sensex index appreciated by 883 points or 1.1 percent and touched 75,093 points, whereas the Nifty index appreciated by 254 points or 1.1 percent and touched 23,254 points. The rise in the stock exchange was due to a reduction in geopolitical tensions as Israeli Prime Minister Netanyahu announced that they would not attack the energy infrastructure and that they might stop the war sooner than they had anticipated, as the Iranian capability in uranium enrichment and ballistic missile production had been curtailed.

Additionally, US President Trump announced that they had no plans to deploy ground troops and said, “I’m not putting troops anywhere.”

Asian Markets Today

Asian stocks were up slightly on Friday, following a rise in the US stock exchange and a decline in oil prices, as US and Israeli diplomatic efforts alleviated concerns about the Middle East conflict. The MSCI Asia Pacific Index was up 0.2 percent, rebounding from the previous session’s 2.6 percent decline following the strike on the energy infrastructure of the Middle East region. 

The US stock exchange has shown some promising signs of improvement, as S&P 500 futures were up slightly following the S&P 500’s 0.3 percent decline in the previous session. It had fallen by nearly 1 percent during the session before rebounding. In addition, the Japanese stock exchange was closed today due to a holiday. No cash trading was conducted in the US Treasury market.

Gold Rate Today

The gold prices have shown an increase of 0.2% on Friday. However, the gold prices are still moving towards a third consecutive week of decline. This is due to a stronger dollar and a hawkish tone emanating from the US Federal Reserve. The gold prices have shown an increase of 0.2%. Currently, the gold price is trading at $4,657.50. On the other hand, the US gold futures for April delivery have shown a sharp increase of 1.1%. Currently, the price is trading at $4,657.90. However, it is important to note that the gold price has fallen by over 7% so far this week. 

The spot silver price has shown an increase. The silver price has shown an increase of 0.1%. Currently, it is trading at $73.

Crude Oil Prices

However, oil prices have declined after touching their lowest levels since July 2022. Today, Brent oil has declined by 1.01%. It is trading at $107.57 per barrel, and US West Texas Intermediate (WTI) crude oil has declined by 1.74%. It is trading at $93.89 per barrel.

However, in the last session, Brent oil climbed as high as $119.13 per barrel in response to attacks on energy infrastructure in the Middle East.