Stock market today: Buoyed by the two week US-Iran ceasefire, stock markets rallied strongly on Wednesday. While Nifty50 went above 24,000 intraday, BSE Sensex rose over 3,000 points.

The Union Cabinet has approved a Rs 41,534 crore nutrient-based subsidy for the Kharif 2026 season to protect farmers from global price volatility. Di-ammonium phosphate (DAP) prices will remain at Rs 1,350 per 50 kg bag, ensuring affordable fertiliser availability amid rising international rates.

Gold price prediction today: Amid the Middle East conflict, gold prices are likely to see limited upside in the short-term, says Praveen Singh, Head Currencies and Commodities, Mirae Asset ShareKhan.

Dalal Street opened higher on Tuesday, with benchmark indices rising after a strong rebound in the previous session. Intense buying in banking and IT stocks, coupled with a strengthening rupee, boosted investor confidence. Global markets showed a mixed trend as oil prices climbed amid Middle East tensions.

The Middle East conflict’s sixth week sees global energy markets reeling. Soaring crude prices offer windfalls to some Gulf producers like Iran and Saudi Arabia, despite export drops. Others, heavily reliant on the Strait, face severe revenue plunges. The disruption, following airstrikes on Iran, has led to significant oil supply shocks worldwide.

Gold futures dipped Tuesday as rising crude oil prices and Middle East tensions made investors cautious, impacting demand for the safe-haven asset. While futures saw a decline, retail gold rates presented a mixed picture across major Indian cities, with some experiencing slight increases and others minor drops.