Mumbai, Gold and silver prices started the session on a weaker note on Friday, with both precious metals declining by nearly 1 per cent in early trade on the Multi Commodity Exchange (MCX).

Gold futures for June 5 opened 0.39 per cent or Rs 594 lower at Rs 1,51,167 per 10 grams compared to the previous close of Rs 1,51,761.

Later, the yellow metal touched an intra-day low of Rs 1,50,750, down 0.66 per cent or Rs 1,011. At the last count, it was trading at Rs 1,51,449, a decrease of Rs 312 or 0.21 per cent. During the session so far, gold has touched an intra-day high of Rs 1,51,457.

On the other hand, silver futures for May 5 declined as much as 0.95 per cent or Rs 2,313 to Rs 2,39,200, an intraday low. The white metal was trading at Rs 2,41,345, down Rs 168 or 0.07 per cent. It recorded an intraday high of Rs 2,41,382, down 0.05 per cent or Rs 131.

In the international market, precious metals also witnessed selling pressure. COMEX gold was down nearly 1 per cent at $4,684 per ounce, while COMEX silver also slipped around 1 per cent to $74.81 per ounce.

According to commodity analysts, gold and silver prices are under pressure due to a stronger US dollar, rising bond yields, and uncertainty over geopolitical tensions in the Middle East.

They further said that crude oil moving back above $100 per barrel has raised inflation concerns, adding to pressure on precious metals.

Moreover, Brent crude was trading at more than $100 per barrel or 2 per cent higher.

Equity benchmarks Sensex and Nifty also traded up to 1 per cent lower in early trade on Friday.

Mumbai, April 23: The Indian equity markets posted sharp losses early on Thursday tracking cautious global cues and sustained foreign institutional selling, after the recent rally.

As of 9.25 am, Sensex lost 671 points, or 0.85 per cent, to reach 77,845 and Nifty dipped 179 points, or 0.74 per cent, to reach 24,198.

Main broad-cap indices showed divergence with the benchmark indices, as the Nifty Midcap 100 dipped 0.34 per cent, and the Nifty Smallcap 100 lost 0.16 per cent.

All sectoral indices traded in red except pharma as well as oil and gas up 0.71 per cent and 0.02 per cent. Nifty auto and consumer durables were the top losers down 1.03 per cent and 1.61 per cent respectively.

The immediate support zone of Nifty is placed at near 24,100–24,000, while resistance is observed in the 24,400–24,500 range.

In the previous session, benchmark indices on a weaker note after failing to sustain higher levels. Selling pressure was visible in banking and financial stocks following their recent outperformance.

IT stocks also remained weak, tracking subdued global cues and uncertainty in overseas markets. FMCG, Energy and other defensive sectors showed relative resilience.

The US markets gained after President Donald Trump extended a ceasefire with Iran, saying it was warranted due to Tehran’s “seriously fractured” government.

President Trump said the ceasefire will be in place until Iran submits a proposal or concludes talks, even as the US military continues its blockade of Iranian ports.

On the fundamental side, earnings remain a strong tailwind, with Q1 earnings growth tracking and forward EPS estimates seeing upward revision, market participants said.

In Asian markets, China’s Shanghai index lost 0.74 per cent, and Shenzhen dipped 1.48 per cent, Japan’s Nikkei lost 1.06 per cent, and Hong Kong’s Hang Seng Index declined 1.2 per cent. South Korea’s Kospi lost 0.91 per cent.

The US markets ended in green overnight as Nasdaq gained 1.64 per cent. The S&P 500 advanced 1.05 per cent, and the Dow Jones added 0.69 per cent.

On April 22, foreign institutional investors (FIIs) net sold equities worth Rs 2,078 crore in India, while domestic institutional investors (DIIs) were also net sellers of equities worth Rs 1,078 crore.

Mumbai, April 21: Indian equity benchmarks extended their gains for a third consecutive session on Tuesday, as investor sentiment improved amid expectations that the United States and Iran may prolong their ceasefire during upcoming talks.

The Nifty and the Sensex ended higher, supported by buying in select heavyweight stocks and optimism around easing geopolitical tensions in West Asia.

At the closing bell, the Nifty was at 24,576.60, up by 0.87 per cent or 211.75 points. The Sensex ended the intra-day session 0.96 per cent or 753.03 points higher at 79,273.33.

Commenting on Nifty technical outlook, experts said that the 24,600 level now acts as an immediate resistance where minor supply was observed.

“A decisive breakout and sustained move above this level could open further upside toward 24,850, followed by the key psychological level of 25,000, where stronger supply is expected,” an analyst stated.

“On the downside, the 24,350–24,400 range has now turned into an immediate support zone after acting as resistance earlier,” an analyst mentioned.

Among the top gainers on the Nifty were Nestle India, Trent, and Hindustan Unilever, which helped lift the benchmark index.

Broader markets also reflected positive momentum, with the Nifty MidCap index closing 0.49 per cent higher and the Nifty SmallCap index rising 0.88 per cent.

On the sectoral front, the Nifty FMCG and the Nifty Realty outperformed other indices, driven by strong buying interest.

In contrast, the Nifty Pharma lagged and emerged as the worst-performing sector for the day.

Investors remained cautiously optimistic about geopolitical developments, as both Iranian and US delegations, along with US Vice President JD Vance, are expected to participate in talks aimed at reaching a broader agreement to end hostilities in the region.

However, uncertainty persists as tensions between the two countries escalated ahead of the meeting.

Iran’s Parliament Speaker Mohammad Bagher Ghalibaf said in a post on X that Tehran does not support negotiations under threats and indicated that the country is prepared to respond strongly if required.

Earlier, US President Donald Trump warned that failure to reach an agreement before the ceasefire deadline could trigger fresh military escalation, stating that “a lot of bombs” could go off if talks collapse.

“Indian equities are expected to continue their gradual upmove, supported by improving macros, easing crude, and strong Q4 earnings momentum,” an analyst stated.