Stock Market Today LIVE: The Indian stock market is expected to extend losses on Friday, March 13, following heavy selling in the global equities, as worries over the economic fallout of the prolonged US-Iran war and the surge in crude oil prices continue to push investors away from risky assets.
The trends on Gift Nifty also signals a negative start for the frontline indices, Nifty 50 and Sensex today. Gift Nifty was trading around 23,555 level, a discount of nearly 173 points from the Nifty futures’ previous close.
Asian markets declined, while the US stock market ended with steep losses overnight, as crude oil prices jumped near $100 per barrel.
US-Iran War
The leaders of Iran, Israel and the United States all voiced defiance and vowed to fight on as the Middle East war approached the two-week mark. Iran’s new Supreme Leader Mojtaba Khamenei issued his first defiant comments, vowing to fight on and keep the Strait of Hormuz shut, and calling on neighboring countries to close US bases on their territory or risk Iran targeting them.
Crude Oil Prices Today
Crude oil prices traded near $100 a barrel following one of the most volatile trading weeks. Brent crude oil price eased 0.73% to $99.73 a barrel after jumping over 9% in the previous session, while the US West Texas Intermediate (WTI) crude futures fell 0.86% to $94.91. The near-halt to shipping through the narrow Strait of Hormuz and the Arabian Peninsula has choked off shipments of crude, natural gas and other products.
Gold and Silver Rates Today
Gold prices rose amid a weaker dollar and declining US Treasury yields. Spot gold price gained 0.7% to $5,112.34 per ounce, while US gold futures for April delivery edged 0.2% lower to $5,115.80. Spot silver price was up 1.5% at $85.03 per ounce.
Stay tuned to this segment for all the live updates on the stock market today.
