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Welspun Corp shares rally 23.4% as Nifty 500 pockets gain
Crude oil jumped to a one-month high on Middle East tensions and expectations of new US sanctions on Iran next week, while global bond yields climbed to multi-decade highs.
LiveMint Markets said Welspun Corp led a week of gains for pockets of India’s Nifty 500, with the stock rising 23.4% to close at ₹2,311. Jyoti CNC Automation also surged, gaining 20% for the week, while Welspun Living jumped 15.3% after a record order win.
The broader market stayed under pressure as geopolitical uncertainty and energy costs fed inflation fears. Rising crude prices were linked to growing tensions in the Middle East and US preparations to impose sweeping sanctions on Iran next week, pushing oil to a one-month high.
LiveMint Markets also pointed to a separate headwind for risk assets, noting that global bond yields have moved to multi-decade highs as investors sought higher compensation tied to concerns about inflation and rising government debt. The Nifty 50 extended a losing streak to seven consecutive sessions through Wednesday, its longest run of daily declines in 11 months.
Within sectors, the outlet cited support from commodities, with Balrampur Chini Mills up 16.7% during the week after a rally in sugar prices. Ajit Mishra of Religare Broking said volatility is likely to persist as geopolitical uncertainty, elevated crude oil prices, and global bond yields continue to drive investor sentiment.
Latest closeWTI crude $82.40 ▲1.4%|Sugar $16.60 ▼1.3%