Mumbai, June 13: The Indian equity benchmarks posted notable gains this week after two weeks of consecutive losses, over investor optimism about potential US-Iran peace agreement, and decline in Brent crude prices.

Nifty added 1.10 per cent during the week and gained 1.99 per cent on the last trading day to reach 23,622. At close, Sensex was up 1,695 points or 2.30 percent at 75,527. It added 1.73 per cent during the week.

The Indian equities showed structural resilience in a turbulent week, marked by global headwinds and continued uncertainty surrounding the US Fed’s policy trajectory, analysts said.

Large-cap stocks outperformed broader markets, while mid- and small-cap segments witnessed profit booking following their recent strong rally.

While US bond yields eased during the week, persistent inflationary pressures and resilient labour market data are keeping the expectations of a delayed rate-cut cycle intact, an analyst said.

“Indian equities traded in a range-bound manner with a mild negative bias, witnessing a modest recovery toward the end of the week,” he added.

Meanwhile, domestic bond yields moderated, supported by RBI policy measures that improved liquidity conditions and attracted foreign inflows into the debt market.

On the sectoral front, financials emerged as the top performers, led by private banks after favourable regulatory developments and a defensive rotation away from higher-beta growth segments. FMCG stocks also advanced on expectations of sustained pricing power.

IT sector continued its decline and metal stocks were weighed down by softer commodity prices amid muted demand expectations from China.

Market participants said that a slowdown in FII selling or improved visibility on the Federal Reserve’s policy direction could serve as a trigger, for domestic capital unloading in the secondary market.

Cumulative FII selling during the week stood at approximately Rs 15,300 crore, continuing to act as a key headwind for domestic equities, although the pace of outflows moderated in the latter part of the period.

In contrast, domestic institutional investors (DIIs) remained strong buyers, recording net inflows of around Rs 24,000 crore.

Broad market indices performed in line with benchmark indices, as Nifty Midcap100 gained 0.98 per cent, while Nifty Smallcap100 edged up 0.48 per cent during the week.

Nifty 50 is expected to see the 23,800 zone as a crucial resistance area. The 23,550–23,500 region is expected to act as immediate support, market participants said.

In Bank Nifty, immediate resistance is placed around the 56,900–57,000 zone and the 56,500–56,400 zone continues to act as an immediate support zone.

Investors remain keen on key macroeconomic data points, including domestic WPI inflation, China’s industrial output, and the upcoming US Fed decision.

Mumbai, June 12: Gold and silver prices traded higher on Friday, with precious metals surging by up to 2 per cent amid hopes of a peace deal in the ongoing West Asia conflict.

On the Multi Commodity Exchange (MCX), gold futures (August) increased as much as 1.11 per cent or Rs 1,668 to hit an intraday high of Rs 1,50,600 as of around 11:30 am.

The yellow metal was trading at Rs 1,49,916, up 0.66 per cent or Rs 948. It touched an intraday low of Rs 1,49,569, a gain of 0.42 per cent or Rs 637 from the previous close.

Meanwhile, silver futures (July) traded at Rs 2,42,143, higher by Rs 2,490 or 1 per cent.

The white metal touched an intraday high of Rs 2,44,817, jumping 2.15 per cent during the session so far. It recorded an intraday low of Rs 2,41,601, up 0.81 per cent or Rs 1,948 from the previous close.

Earlier in the day, gold and silver began the session at Rs 1,50,595 and Rs 2,42,776, respectively, on the commodity exchange.

According to commodity market experts, bullion remained under pressure overall and was headed for a second consecutive weekly decline as persistent inflation concerns and growing expectations of a US Federal Reserve rate hike continued to weigh on sentiment.

Analysts said precious metals rebounded sharply from six-month lows after US President Donald Trump indicated that the US and Iran could reach a peace agreement as early as this weekend.

However, gains remained limited amid continued uncertainty over the negotiations, with Iranian officials denying that a final agreement had been reached, according to them.

Optimism around a potential diplomatic breakthrough eased concerns over global energy supplies, triggering a decline in crude oil prices and improving broader market risk appetite, experts added.

Market participants will now track developments in US-Iran negotiations and upcoming commentary from the Federal Reserve for further direction in precious metal prices.

In international markets, COMEX silver traded at $66.94, up more than 4 per cent, while COMEX gold rose over 2 per cent to $4,203.70 per ounce.

Meanwhile, crude oil prices declined sharply, with US West Texas Intermediate (WTI) crude falling roughly 3 per cent to $85 per barrel. International benchmark Brent crude declined 1.59 per cent to $88.94 per barrel.

Mumbai, June 11: Gold and silver prices traded lower on Thursday, with precious metals falling by up to 2 per cent amid escalating tensions in the West Asia conflict.

On the Multi Commodity Exchange (MCX), gold futures (August) declined as much as 1 per cent or Rs 1,573 to hit an intraday low of Rs 1,46,444 as of around 12 pm.

The yellow metal was trading at Rs 1,47,860, down 0.11 per cent or Rs 157. It touched an intraday high of Rs 1,48,089, up 0.04 per cent or Rs 72 from the previous close.

On the other hand, silver futures (July) were trading at Rs 2,34,500, down Rs 1,005 or 0.43 per cent.

The white metal touched an intraday low of Rs 2,30,493, declining 2.12 per cent during the session so far. It recorded an intraday high of Rs 2,35,402, down 0.04 per cent or Rs 103 from the previous close.

Earlier in the day, gold and silver opened at Rs 1,46,518 and Rs 2,31,671, respectively, on the MCX.

In international markets, precious metals also remained under pressure. COMEX silver was trading at $63.90, down over 1.29 per cent, while COMEX gold was trading 0.68 per cent lower at $4,105.30 per ounce.

According to commodity analysts, precious metals remained under pressure as investors assessed the latest developments in the West Asia conflict. Gold stabilised near multi-month lows after the US military confirmed the completion of its latest strikes on Iran, raising expectations that diplomatic negotiations could resume.

They said easing safe-haven demand, coupled with expectations that US interest rates could remain higher for longer, weighed on bullion prices. Higher interest rates reduce the appeal of non-yielding assets such as gold and silver.

Market participants also continued to monitor inflationary pressures stemming from rising energy prices and their potential impact on the US Federal Reserve’s policy path.

Meanwhile, crude oil prices surged sharply, with Brent crude rising over 2 per cent to trade near $95 per barrel, while US West Texas Intermediate (WTI) crude climbed 4 per cent to $93.64 per barrel.