Indian equity indices is trading higher in Friday’s session. The key benchmarks are up for the fourth consecutive session. The NSE Nifty 50 is up over 150 points to trade near 25,600, while the BSE Sensex rose 170 points to 83,917.
In line with the overall markets, Bank Nifty opened flat near 57,200. The Nifty Midcap 100 opened 260 points or 0.45% higher at 59,494.
“A significant feature of the ongoing bull market, which started after the Covid crash ( 7511 Nifty on 23rd March 2020), is its ability to climb all walls of worries. High inflation, aggressive monetary tightening by the central banks, geopolitical events, including some wars and conflicts, and unprecedented tariff threats posed some threats to the rally, but the bull market climbed over all these walls of worries. It appears that the rally is unlikely to be impacted by the approaching July 9th tariff deadline imposed by President Trump. News that the July 9th deadline is likely to be extended is a positive for the market,” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.
Here are key highlights from the early session-
Top performers leading the charge
Among the top gainers on the Nifty 50 were L&T, Tata Steel, SBI, Apollo Hospitals, and Tata Motors. The top movers in the Nifty 50 were L&T, Reliance Industries, SBI, Infosys, and Axis Bank as soon as markets opened.
Stocks in the red
The stocks that remained under pressure included SBI Life Insurance, Bajaj Finance, Bajaj Finserv, Kotak Mahindra Bank, and Zomato, which were the laggards in the morning trade.
Iran–Israel conflict
Both sides have claimed victory. Iran’s Supreme Leader said Iran had defeated Israel and the US, while Israel’s Prime Minister called it a historic win. Intelligence reports say Iran’s nuclear sites were damaged but not destroyed. Iran has now cut ties with the UN nuclear watchdog. Meanwhile, the US is considering a $30 billion civilian nuclear deal with Iran, on the condition that it stops uranium enrichment. Iran has denied any upcoming talks with the US.