Mkts eye relief rally as crude cools

Indian equity markets ended the previous week on a positive note despite heightened geopolitical uncertainties.

- Motilal Oswal Team

The Nifty 50 gained 1.1%, while the Nifty Midcap 100 and Smallcap 100 rose 0.02% and 0.5%, respectively. Among sectoral indices, Private Banks emerged as the top performers with a 5.1% gain, followed by Bank Nifty, which advanced 4.2%. On the other hand, IT and Metal stocks witnessed profit booking and ended the week lower by 5.1% and 4.4%, respectively. Markets are expected to maintain a positive bias in the week ahead as easing tensions between the US and Iran improve global investor sentiment.

Brent crude oil prices have corrected sharply to around $88 per barrel, their lowest level in nearly two months, after reports suggested that both countries are moving closer to a potential agreement.