Indian equity benchmarks experienced a cautious yet slightly positive start on Friday, as investors monitor developments in the ongoing US-Iran negotiations and assess the impact of elevated crude oil prices on global markets.
The BSE Sensex started the session near 75,300, climbing more than 150 points, while the NSE Nifty50 opened trading around 23,700, inching up 32 points, as of 9:15 AM.
GIFT Nifty Hints At Mildly Positive Opening
Early indicators pointed towards a steady opening for Dalal Street, with the GIFT Nifty trading around 23,657, up nearly 25 points.
In the pre-open session around 9:02 AM, the Sensex was up 311.37 points, or 0.41 per cent, at 75,494.73. Meanwhile, the Nifty was marginally lower by 5.65 points, or 0.02 per cent, at 23,649.05, signalling a mixed opening trend.
Market participants remained cautious despite positive global cues, as uncertainty surrounding US–Iran diplomatic talks continued to influence risk appetite and energy prices.
US-Iran Nuclear Talks Stay In Focus
Investor attention remained firmly on geopolitical developments in West Asia.
According to reports, Iran intends to retain its enriched uranium stockpile within the country, a stance that could complicate negotiations with the United States. Washington has been pushing for stricter curbs on Tehran’s nuclear programme as part of broader efforts to de-escalate tensions in the region.
US Secretary of State Marco Rubio stated that there were “some good signs” in the negotiations, although major differences remain unresolved, particularly around Iran’s uranium reserves and control over the Strait of Hormuz.
Strait Of Hormuz Disruption Continues
The near closure of the Strait of Hormuz, a critical global oil transit route, remains a major concern for investors.
The prolonged disruption has kept energy markets volatile and raised fears of persistent inflationary pressures globally. Analysts said the continued supply concerns are forcing markets to reassess expectations around global interest rates and monetary policy.
Asian Markets Trade Higher Amid Mixed Sentiment
Most Asia-Pacific markets advanced in early trade, tracking overnight gains on Wall Street.
Japan’s Nikkei 225 climbed 1.83 per cent after inflation data came in softer than expected, while South Korea’s Kospi and Hong Kong’s Hang Seng also traded higher.
Broader Asian equities remained supported by hopes of progress in diplomatic negotiations, although investors continued to stay selective amid geopolitical uncertainty.
Wall Street Ends Higher; Dollar Near Six-Week High
US markets ended with modest gains overnight, with the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all closing in positive territory.
Meanwhile, the US dollar hovered near a six-week high as rising Treasury yields and safe-haven demand supported the greenback.
Analysts noted that elevated oil prices and geopolitical uncertainty are increasingly shaping global interest rate expectations, with markets now factoring in the possibility of tighter monetary policy for longer.
Crude Oil Prices Rise Again
Brent crude futures moved higher in early Asian trade after sharp swings in the previous session.
The May futures contract traded around $104.86 per barrel, up more than 2 per cent, as concerns resurfaced over the pace and outcome of US–Iran negotiations.
Despite recent volatility, oil prices remain well above pre-conflict levels, keeping inflation worries alive across global markets.
Gold, Silver Ease Slightly
Precious metals witnessed mild weakness, with gold and silver futures slipping in early trade.
The decline came amid strength in the US dollar and rising bond yields, which reduced demand for safe-haven assets.
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