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ONGC share prices rose over 3% on Friday after Brent crude surged more than 12% amid rising geopolitical tensions following Israels airstrike on Iran. With oil prices climbing to multi-month highs, ONGC stands to benefit from improved realisations, boosting earnings from its upstream operations.
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Defence stocks rallied on Friday after Israel launched military strikes on Iran, heightening geopolitical tensions and boosting investor interest in the sector. Ideaforge led the surge with an 8.1% jump, followed by gains in Astra Microwave, Bharat Dynamics, and HAL. The rally was fueled by reports of targeted Israeli attacks on Iranian nuclear sites and key military personnel.
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Gold prices surged on MCX, breaching 1 lakh per 10 grams amid Israel-Iran tensions and a weaker dollar. Silver also saw gains, while geopolitical uncertainty and potential oil supply disruptions fueled safe-haven demand. Analysts suggest a 'buy on dips' strategy, anticipating further price increases in the coming months, with key support levels to watch.
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