Nifty and Sensex end losing streak on peace deal optimism
Nifty 50 rose 1.99% to 23,622 points, while Sensex gained 1,695 points, ending a two-week losing streak. Optimism around a potential Iran-US peace deal and RBI measures boosted market sentiment.
pre-market1 source ↓written by the desknot a recommendation
- Nifty 50 surged
- 1.99%
- 23,622 points
- for the week
- 1,695 points
- the week ending
- 12 June 2023
Bulls returned to Dalal Street as the Nifty 50 surged 1.99% to 23,622 points, while the BSE Sensex gained 1,695 points for the week ending 12 June 2023. The optimism stemmed from reports of a potential Iran-US peace deal, which also contributed to a decline in crude oil prices and a recovery in the Indian rupee.
The Nifty Bank was the standout performer, boosted by the Reserve Bank of India's recent forex measures. This market rebound may signal renewed investor confidence moving forward.
Not investment advice. For informational purposes only.