Mumbai, May 21: Indian equity markets traded higher on Thursday in early deals amid hopes of easing tensions in West Asia after Iran said it was reviewing latest proposal to end the conflict.

In the morning trade, Sensex jumped as much as 0.83 per cent or 627 points to hit an intraday high of 75,945, while Nifty traded 0.84 per cent or 200 points higher at 23,859.

On the sectoral front, realty stocks led the gains, with the Nifty Realty index rising 1.5 per cent. Nifty Cement advanced 1 per cent, while chemicals, auto and media indices also traded higher. PSU Bank and metal stocks too remained in positive territory during the session, with all sectoral indices trading in the green.

Meanwhile, from the 50-share benchmark pack, Infosys, Nestle India, Trent, SBI Life Insurance, Sun Pharma, Tata Consumer Products and ONGC were among the top laggards.

Category-wise, smallcap and midcap shares outperformed the benchmarks in early trade. The Nifty Microcap 250 climbed over 1 per cent, while the Nifty Smallcap 500 and Nifty Midcap 150 indices gained up to 1 per cent.

Meanwhile, India VIX declined over 4 per cent to around 18, signalling easing volatility.

Analysts said the recent momentum suggests investors are continuing to adopt a “buy on dips” strategy, supported by easing volatility and improving sentiment around foreign fund flows.

According to market experts, concerns over elevated valuations in AI-linked stocks in South Korean and Taiwanese markets could potentially divert foreign investor interest towards India, where valuations are seen as relatively fair in several pockets.

They added that the trajectory of crude oil prices and rupee stability would remain key factors driving near-term market direction.

Experts further noted that while fourth-quarter earnings have remained largely healthy so far, the impact of higher energy prices may become visible from the first quarter of FY27.

Moreover, market sentiment improved after Iran said it was reviewing Washington’s latest proposal to end the conflict, raising hopes of easing geopolitical tensions in West Asia.

The remarks came after US President Donald Trump indicated that Washington was willing to wait a few days for Tehran’s response, while also warning of renewed attacks if negotiations failed.

In the commodities market, international benchmark Brent crude rose 1.32 per cent to $106.41 per barrel, while US WTI crude jumped nearly 2 per cent to $100.11 per barrel.

Global market sentiment also remained positive. Asian stocks traded in the green, with Japan’s Nikkei rising over 3 per cent, South Korea’s KOSPI surging more than 7 per cent, and Hong Kong’s Hang Seng trading marginally higher.

In the US, Wall Street ended on a bullish note, with the S&P 500 closing 1 per cent higher and the Nasdaq settling 1.54 per cent up.

Mumbai, May 20: Gold and silver prices declined sharply on Wednesday, with both precious metals falling over 1 per cent amid rising concerns over higher US interest rates.

On the Multi Commodity Exchange (MCX), gold futures (June 5) declined as much as 0.7 per cent or Rs 1,121 to hit an intraday low of Rs 1,57,959 as of 11:17 am. The yellow metal was trading at Rs 1,58,369, down 0.45 per cent or Rs 711. It touched an intraday high of Rs 1,60,378, rising 0.81 per cent or Rs 1,298, according to the exchange.

Meanwhile, silver futures (July 3) also witnessed selling pressure, slipping 1.21 per cent, or Rs 3,269, to Rs 2,66,850, its intraday low so far. The white metal was trading at Rs 2,68,970, down 0.43 per cent or Rs 1,149. It recorded an intraday high of Rs 2,69,605, lower by 0.19 per cent or Rs 514.

Earlier in the day, gold and silver opened on the MCX at Rs 1,58,974 and Rs 2,67,230, respectively.

In the international market as well, precious metals were trading lower. COMEX gold declined 0.49 per cent to $4,462 per ounce, while COMEX silver slipped 0.17 per cent to $73.868 per ounce.

According to commodity market experts, gold prices remained under pressure as investors assessed rising inflation risks and the possibility of higher US interest rates.

They noted that geopolitical tensions also continued to weigh on sentiment after US President Donald Trump warned that Washington could resume strikes on Iran within “two or three days” if Tehran failed to accept Washington’s peace terms.

The ongoing conflict has disrupted shipping through the Strait of Hormuz, pushing crude oil prices higher and intensifying global inflationary pressures.

Analysts added that rising inflation concerns have reduced expectations of US Federal Reserve rate cuts while increasing speculation around possible rate hikes later this year.

For silver, experts said the metal has additionally erased recent gains that were supported by optimism around AI-linked stocks and rising demand from data-centre infrastructure expansion.

Meanwhile, domestic stock markets opened lower on Wednesday, with benchmark indices Sensex and Nifty trading in negative territory during early trade.

Mumbai: Residents of Mumbai are facing another increase in fuel prices after oil marketing companies on Tuesday raised petrol and diesel rates for the second time within a week amid rising global crude oil prices linked to the ongoing Iran conflict. With the latest revision, petrol prices in Mumbai have climbed by 91 paise to Rs 107.59 per litre, while diesel has become costlier by 94 paise and is now retailing at Rs 94.08 per litre.

The latest increase comes just three days after fuel prices were raised by Rs 3 per litre on Friday, majorly increasing transportation and commuting costs for Mumbaikars already dealing with inflationary pressure. The fresh hike is largely driven by the sharp surge in international crude oil prices due to tensions in West Asia, particularly disruptions linked to the conflict involving Iran.

According to data released by the Petroleum Planning and Analysis Cell under the Petroleum Ministry, the average price of India’s crude oil basket has jumped from USD 69.01 per barrel in February 2026 to USD 110.73 per barrel as of May 15, an increase of over 60 per cent in less than three months.

The situation has been worsened by disruptions in cargo movement through the Strait of Hormuz, through which a major share of India’s crude oil imports traditionally passes. India imports more than 85 per cent of its crude oil requirements, making domestic fuel prices highly sensitive to global market fluctuations.

Mumbai, being one of the country’s largest metropolitan and commercial hubs, is likely to feel the impact more sharply due to its heavy dependence on road transport, logistics and daily commuting.

Taxi operators, app-based cab drivers and transporters have already started expressing concern over the rising operational costs. The repeated hikes are also expected to affect prices of essential goods and services, as transportation expenses rise across the supply chain.

Another factor contributing to the price rise is the weakening of the Indian rupee against the US dollar. With the rupee reportedly touching around 96 against the dollar, oil imports have become more expensive for Indian refiners and oil companies.

Despite the earlier Rs 3 increase, oil marketing companies were reportedly still facing losses after maintaining older fuel rates for nearly 10 weeks amid continuously rising global crude prices. It is also speculated that if geopolitical tensions in West Asia continue or escalate further, Mumbai and other major Indian cities could witness additional fuel price increases in the coming weeks.