India Market Recap

Indian equity benchmarks bounced back strongly on Thursday, snapping a seven-session losing streak as buying emerged across large-cap and broader market stocks. The BSE Sensex rallied 628.04 points, or 0.82%, to close at 77,537.72, while the NSE Nifty 50 gained more than 0.6%. The recovery was broad-based, with the Nifty Midcap 150 rising around 0.4% and the Nifty Smallcap 250 advancing nearly 0.6%. Among sectoral indices, Nifty Realty led the gains with an advance of nearly 1.5%, reflecting renewed buying interest in real estate stocks. In contrast, Nifty PSU Bank extended its decline for a sixth consecutive session, remaining the weakest-performing sector. On the technical front, Nifty support is placed in the 24,100–24,150 range, while resistance is seen between 24,350 and 24,400.

US Market Recap

Wall Street ended lower on Thursday as an early rally in US Treasury bonds faded, prompting investors to reassess expectations that recent government measures would sustainably lower borrowing costs. Rising energy prices also renewed concerns about inflation, weighing on overall market sentiment. The S&P 500 declined 0.9%, with Walmart recording its biggest single-day fall since 2022 following weaker-than-expected sales. The Nasdaq 100 slipped 0.7%, extending its losing streak to five consecutive sessions. In early Asian trading, S&P 500 futures were largely unchanged, indicating a cautious start for US markets.

Asian Market Update

Asian markets were set for a weaker opening on Friday, tracking overnight losses on Wall Street. Investor sentiment remained cautious as the rally in US Treasury bonds lost momentum and concerns over elevated interest rates resurfaced. Equity futures pointed to a softer start across Japan, South Korea, and Australia, while Hang Seng futures traded little changed. Market participants continue to monitor movements in global bond yields, inflation expectations and geopolitical developments for further direction.

Commodity Check

Gold remained on track for its third consecutive weekly gain as concerns over the growing US debt burden boosted demand for safe-haven assets. Spot gold rose 0.2% to $4,522.90 per ounce, after trading near $4,530 per ounce, and was set to gain more than 3% for the week. Silver edged up 0.1% to $68.16 per ounce, while platinum and palladium also posted modest gains. Crude oil prices were also headed for a strong weekly advance as renewed US efforts to tighten economic pressure on Iran heightened concerns over potential supply disruptions. Brent crude traded above $93 per barrel, putting it on track for a weekly gain of more than 5%, while West Texas Intermediate (WTI) eased slightly towards $86 per barrel after recording gains in the previous five sessions. Investors remain focused on developments in the Middle East, with geopolitical risks continuing to support higher energy prices.

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