Commodities

According to Kotak, the fundamental outlook for the bullion is cautiously positive medium term, but pressured near term.

The latest jump comes as oil prices remain highly volatile amid US-Iran tensions and disruptions to shipping through key waterways raised concerns over global oil supplies and inflationary worries.

Among sectors, gains were seen in Nifty Realty, Nifty Auto, Nifty Metals, Nifty Private Bank and Nifty FMCG, while Nifty IT, Nifty Pharma dn Nifty Oil & Gas reeled under selling pressure.

Domestic petrol and diesel prices remained unchanged on Sept. 25 as Brent crude fell 0.82% to $105.73 a barrel and WTI declined 1.65% to $93.05.

This divergence tells us FPIs are not exiting India; they are becoming selective. The selling in the secondary market is a global story, not an India story, Dheeraj Gaur, Chief Investment Strategy Officer at Choice Wealth told NDTV Profit in an exclusive email interview.

24K gold stood at Rs 1,51,580 per 10 gm in India on Sept. 25, while silver was priced at Rs 2,34,040 per kg. Markets tracking latest development across US-Iran scenario and Fed Rates.

Losses in the US Treasuries market intensified Thursday amid inflation fears stemming from the day's spike in oil prices, as well as concerns about government debt.

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Meanwhile, oil prices remained elevated despite a modest pullback.Brent crude oil was down 0.93% at $106.04 a barrel at last check, keeping energy prices and their potential impact on inflation and global growth in focus.

An escalation in tensions between Saudi Arabia and the Iran-backed Houthi group can worsen the flow of oil through Red Sea, thereby adding more pressure on the oil market.

The Nifty 50 fell to its lowest level in 117 sessions and traded at levels last seen on April 7. The Sensex reached its lowest level in 73 sessions, falling to levels last seen on June 11.

The prices had cooled off briefly after US envoy Steve Witkoff and Iranian foreign minister Abbas Araghchi held talks on the sidelines of UNGA to discuss potential peace plans.