Stock Market LIVE Updates: It is a big day for India as markets open after a long weekend. Indian equities will aim to sustain themselves as the results of assembly elections in Assam, Kerala, Tamil Nadu, West Bengal, and Puducherry are announced today. The moving parts will also deal with the latest developments in the Iran crisis, with crude oil prices still above the $105 a barrel mark.
The GIFT Nifty indicates that the domestic markets are likely to open significantly higher than the closing price. Currently, Sensex and Nifty are at 76,913.50 and 23,997.55, respectively.
India’s 10-year benchmark bond, which rose 7 basis points to 7.0148 per cent last week, is expected to see further gains. Traders expect the yield on this note to move in a 6.96 per cent to 7.10 per cent range this week after posting its biggest weekly jump in four.
The benchmark Brent crude contract hit a four-year high last week, as the US plans to keep blocking Iranian ports, while Iran continues to threaten to shut down the Strait of Hormuz, which, before the war, carried about a fifth of global oil output.