Mumbai: The BSE Sensex appreciated 69.58 points to 75,461.59 in early trade on Friday. The NSE Nifty gained 44.50 points to 23,734.10.
Factors impacting Stock Market movement
India hikes petrol and diesel prices by about 3 rupees/litre Petrol and diesel prices were hiked by Rs 3 per litre each on Friday.
During the US-China summit, Beijing signaled support for keeping the Strait of Hormuz open without restrictions, tolls, or military control, according to US Trade Representative Jamieson Greer.
Silver prices fell below $81 an ounce on Friday, recording a second straight session of declines as broader weakness across the metals complex intensified amid rising US inflation concerns and growing expectations of higher interest rates.
Gold prices weakened toward $4,600 an ounce on Friday and were heading for a weekly decline of nearly 2% as accelerating US inflation reinforced expectations that the Federal Reserve could maintain elevated interest rates or potentially raise them later this year.
WTI crude futures climbed above $102 per barrel on Friday and were set for a weekly gain of more than 7% as diplomatic efforts to resolve the US-Iran conflict continued to stall, keeping the strategically vital Strait of Hormuz effectively closed.
This is a developing story…
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