Stock market today: Nifty50 and BSE Sensex ended in green, rallying in late afternoon trade. While Nifty50 went above 23,400, BSE Sensex ended over 900 points up, crossing the 75,000 mark. Nifty50 closed at 23,408.80, up 258 points or 1.11%. BSE Sensex ended at 75,502.85, up 939 points or 1.26%.Stock markets snapped a three-session losing streak as investors appeared to engage in value buying following last week’s steep market decline.Trading throughout the day remained highly volatile, with markets swinging between sharp losses and strong recoveries. Markets staged a strong recovery later in the afternoon, reversing the earlier decline. The government confirmed over the weekend that the vessels Shivalik and Nanda Devi, carrying a combined cargo of 92,700 tonnes of liquefied petroleum gas (LPG), had safely navigated through the Strait of Hormuz.In an interview with the Financial Times UK, External Affairs Minister S. Jaishankar said that New Delhi is currently in discussions with Iran to help ensure the reopening of the strategically important waterway.“Certainly, from India’s perspective, it is better that we reason and we coordinate and we get a solution than we don’t. While this is a welcome development, there is continuing conversation because there is continued work on that,” Jaishankar said.Despite the improved sentiment in financial markets, risks remain. Oil prices continue to stay elevated, with Brent crude futures rising more than 2% on Monday to trade above $105 per barrel. The conflict involving Iran and the US-Israel has now entered its third week, causing sustained disruption around the Strait of Hormuz, a vital route for global trade.This narrow waterway, about 33 kilometres long, links the Persian Gulf with the Gulf of Oman and is responsible for transporting more than 20% of global oil and gas shipments.According to Jateen Trivedi, Vice President and Research Analyst for Commodities and Currency at LKP Securities, movements in crude oil remain a major factor influencing the rupee, as higher oil prices increase India’s import costs and put pressure on the currency.International markets also experienced volatility. Japan’s Nikkei and China’s Shanghai Composite ended slightly lower, while Hong Kong’s Hang Seng and South Korea’s Kospi each gained more than 1%. In Europe, markets were trading in negative territory during early hours, with the UK’s FTSE and Germany’s DAX registering modest declines, while France’s CAC fell about 0.7%.Vinod Nair, Head of Research at Geojit Investments, said the stock market witnessed a late recovery driven by value buying in domestically focused sectors such as automobiles, banking and FMCG, which helped trigger a relief rally after the recent sell-off. However, he cautioned that challenges remain in the near term, noting that while valuations have eased, the premium valuation gap across several major sectors has narrowed.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
