The news that the US would prolong its embargo of Iranian ports caused domestic financial markets to rise today. The Nifty increased 1.20 percent, or 287 points, to 24,282 at the time of the most recent reporting, while the Sensex traded 1.25 percent, or 982 points, higher at 77,849, reaching an intraday high in early trade. Sector-wise, equities in the automotive, chemical, real estate, energy, and IT sectors showed purchasing activity.
The Nifty IT, Nifty Oil and Gas, Nifty Chemicals, Nifty Auto, and Nifty Realty indexes are all up. The cost of oil has also increased. US WTI crude increased 0.81 percent to 100.74 dollars per barrel, while Brent crude increased 0.63 percent to 111.97 dollars. Cues from the global market were conflicting. In Asia, the Nikkei in Japan fell 1%, the Hang Seng in Hong Kong rose 1%, and the Kospi in South Korea saw a slight increase. The Nasdaq dropped 0.90 percent and the S&P 500 closed 0.5 percent lower on Wall Street in the United States.
