Share Markets Follow Asian Peers, GIFT Nifty In Red, Sensex Opens Over 300 Points Down

At around 9:02 AM, the Sensex was trading at 77,971.34, down 108.62 points, or 0.14 per cent, while the Nifty stood at 24,379.65, lower by 7.25 points, or 0.03 per cent.

Oil prices remained relatively stable on Friday after the US threatened to continue its naval blockade around the Strait of Hormuz indefinitely.

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Key points generated by AI, verified by newsroom

• Indian equity benchmarks traded negatively amidst mixed global signals.
• US markets closed higher, while Asian indices showed mixed trends.
• Crude oil remained steady; gold and silver prices declined.

Indian equity benchmarks continued to trade with a negative sentiment on Friday, tracking mixed global cues as investors assessed developments around the Strait of Hormuz and the outlook for US monetary policy.

The BSE Sensex crashed more than 300 points and started the session near 77,770, while the NSE Nifty50 slipped 67 points and traded under 24,400, as of 9:15 AM.

GIFT Nifty Signals Cautious Start

The GIFT Nifty pointed to a subdued opening for domestic equities. The futures were quoted at 24,438, down 30 points, as oil prices remained relatively steady following the US threat to maintain an indefinite naval blockade.

At around 9:02 AM, the Sensex was trading at 77,971.34, down 108.62 points, or 0.14 per cent, while the Nifty stood at 24,379.65, lower by 7.25 points, or 0.03 per cent.

Investors are likely to track geopolitical developments closely, particularly any fresh updates surrounding the Strait of Hormuz, while global interest rate expectations could also influence sentiment.

Asian Markets Turn Mixed

Asian equities reversed some of their initial gains to trade mixed on Friday.

Markets had opened higher after a softer-than-expected US Producer Price Index (PPI) reading raised expectations around the near-term interest rate outlook, while gains in technology stocks also supported sentiment.

Japan's Nikkei 225 was up around 0.7 per cent, while South Korea's Kospi gained about 0.9 per cent. Hong Kong's Hang Seng, however, declined 0.51 per cent.

Wall Street Ends Higher, S&P 500 Hits Record

US markets ended broadly higher in the previous session, with the S&P 500 reaching a fresh high.

The S&P 500 gained 0.65 per cent to close at 7,799.19, while the Nasdaq Composite advanced 0.81 per cent. The Dow Jones Industrial Average also ended higher, rising 0.13 per cent.

The performance followed a softer US PPI reading, which helped ease some concerns around the near-term interest rate outlook.

Crude Oil Steady After US Hormuz Warning

Oil prices remained relatively stable on Friday after the US threatened to continue its naval blockade around the Strait of Hormuz indefinitely.

Brent crude had ended a six-session winning run in the previous session amid concerns over global demand. The August futures were quoted at $86.84 per barrel, down 0.26 per cent.

The Strait of Hormuz remains a key factor for global energy markets, making developments around the waterway an important trigger for investors.

Gold, Silver Trade Lower

Precious metals were under pressure in early trade.

Gold futures declined 1.11 per cent, while silver futures fell 1.49 per cent. The moves came as investors assessed the latest developments in global markets and commodity prices.