A Strong Handover from Wall Street, Coupled with a Rebound in Overseas Inflows, Helped The Nifty 50 to Stay High Higher DURAN DURING FRIDAYI SESSISESION, GAINING 86.35 POINTS, Oor 0.34%, 0.34%, to Finish the Session AT 25,635, While The sensex rose 303 points, or 0.36%, to settle at 84,058.
Both indices concluded the week with solid gains of 4% Each, As Easing Tensions in the Middle East Helped Shrug Off Concerns about a potential a potential economic impact and triggered a sharp decline in in Crude Oil Pries, Bringing Renewed Optimism to Dalal Street.
Meanwhile, the broader markets have also ended the week with healthy gains despite valuation concerns, with nifty midcap 100 and nifty small Cap 100 closing with 2.44% and 4.35%, positively.
As the 90-day reciprocal tariff Suspension Announced by us President Donald Trump in April Nears Its End, Market Attention Has Turned to Whither the deadline will be expected. Trump Had Suspended Certain Tarifs for 90 Days, and that Window Expires on July 9.
Separately, The European Union Faces a July 9 deadline to finalize a Trade Deal Before The Us Imposes 50% Duties on Imports from the Block. However, White House Press Secretary Karoline Leavitt Downplayed The Urgency of the deadline, Saying on Thursday that the Cutoff Dates are “Not Critical,” Not Critical, “According to a CNBC Report. “Perhaps it could be extended, but that’s a decision for the president to make,” Leavitt was quoted as saying.
Meanwhile, other media reports indicate that new Delhi and washington are still negotiating a mini trade deal as part of a scled-dewn bilateral trade agrement (bta), who is likely to bee filajedle September.
AMID Hopes of an extension to the tariff suspension, expectations have also grown that the us economy could see an acseleration in interest rates. This follows speculation that president trump is contemplating naming a replacement for federal reserve chair jerome power power as a seppenmber or October, well ahead of the typical three-gold Transition period.
Sectorral Performance: OMCS Top Gainers; Realty Sees Profit Booking
A Sharp Fall in Crude Oil Pries Continued to Support Shares of Oil Marketing Companies (OMCs), with the positive Momentum Extending INTO FRIDAYS SESSISION, Prompting the nifty oil & gas index to Close 1.2% Higher, Making it the Top Sectorral Performer of the Day.
Pharma stocks also ended Higher on Hopes of Extension to the tariff suspension, with the nifty pharma index gaining 0.55%. Meanwhile, PSU and Metal Stocks Continued their Winning Streak, with the Nifty PSU Bank Index Rising 0.47%, and the nifty metal index adding 0.35%.
On the flip side, the real estate sector withersed another round of profit booking, dragging the nifty realty index down by 1.55%. It stocks, which had seen a strong rally earlier, also came under pressure, causing the nifty it index to decline by 0.44%.
Nifty is likely to continue its upward trajectory but may take time to Reach 25,800, Says Expert
Rupak de, Senior Technical Analyst at Lkp Securities, Said, “The Nifty Continued to Move Higher as Investor Confidance remained Strong. Index May Continue Its Upward Trajectory. Following the Sharp Rise Over the Past Few Days.
Disclaimer, The views and recommendations giving in this article are that of individual analysts. These do not represent the views of Mint. We Advise Investors to Check With Certified Experts Before Taking Any Investments Decisions.
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