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Stock Market Opening Bell: The benchmark Indian stock market indices opened in red on Tuesday, May 5, following weakness in global markets as uncertainty in the US-Iran war escalated. 

While Sensex declined to 0.21% to 77108.38 level, Nifty 50 fell 0.28% to 240552.60 level.  

The trends on Gift Nifty had signalled that Sensex and Nifty 50 will open in red today.  The Gift Nifty was trading around 24,075 level, lower by 131 points from Nifty futures last close.

Meanwhile, Asian markets traded in red, and the US stock market also declined overnight, with the S&P 500 declining from record highs.

This comes in the backdrop of the Middle East crisis linked tensions placing the ceasefire on the edge of a fallout. The recent exchange of fire has further triggered the region into uncertainty, while prompting the retaliatory strikes against Iranian targets.

Crude Oil Prices

The rates of crude oil have risen 6% in the last session. Meanwhile, the Brent oil futures for July fell 0.95% to $113.35 per barrel, after settling up 5.8% on Monday. US West Texas Intermediate (WTI) crude declined 1.95% to $104.34, after gaining 4.4% in the previous session.

Gold Rate Today

Gold prices were largely steady as renewed escalation in US-Iran war fueled inflation and rate-hike risks. Spot gold price rose 0.2% to $4,528.99 per ounce, while US gold futures for June delivery rose 0.1% to $4,538.20. Spot silver price gained 0.1% to $72.76 per ounce.

Stocks In Focus On May 5 

Tata Motors Commercial Vehicles (TMCV): BNP Paribas Financial Markets bought 7.18 lakh shares of TMCV at Rs 405.80 per share, while Goldman Sachs Bank Europe SE sold 7.18 lakh shares at the same price.

Dhara Rail Projects: India Max Investment Fund Limited sold 0.80 lakh shares (0.53 percent) of Dhara Rail Projects at Rs 124.66 per share.

BHEL: In its Q4 results, the company's profit surged over 150% year-on-year (YoY) to Rs 1,296.1 crore as against Rs 506.8 crore in the corresponding period last year. Meanwhile, revenue surges 37.2% YoY to Rs 12,310.1 crore Vs Rs 8,972.4 crore. On the other hand, EBITDA rose 111% YoY to Rs 1,753.4 crore as compared to Rs 831.1 crore