India Market Recap

Indian equity benchmarks snapped their two-day gaining streak on Monday amid cautious global cues and ongoing geopolitical concerns. The Nifty 50 declined 32.95 points, or 0.14%, to close at 24,219.05, while the Sensex fell 170.70 points, or 0.22%, to settle at 77,370.13. Both indices recovered significantly from their provisional closing levels, indicating some buying support at lower levels. On the technical front, Nifty support is placed in the 24,000–24,100 range, while resistance is seen between 24,300 and 24,400.

US Market Recap

Wall Street started the week on a weak note as a sharp sell-off in semiconductor stocks overshadowed the benefit of lower oil prices. The Nasdaq 100 declined 1%, while the S&P 500 fell 0.3%. Chip stocks came under pressure after reports suggested that some major customers could face AI-related price increases of more than 15%, raising concerns about technology spending and valuations. Investors are also awaiting Nvidia's earnings, which could provide further direction to the technology sector.

Asian Market Update

Asian markets were set for a weaker opening on Tuesday following losses on Wall Street, with technology stocks remaining under pressure. Futures pointed to declines in Japan and South Korea, while Australia's market was expected to open slightly higher. Hang Seng futures gained around 0.6%, offering some support to the broader regional sentiment. Currency markets remained relatively stable, with the Japanese yen around 159.08 per dollar and the offshore yuan near 6.7212 per dollar.

Commodity Check

Crude oil prices remained under pressure as the US increased economic pressure on Iran and its trading partners, seeking to restore normal energy flows through the Strait of Hormuz. Brent crude traded near $92 per barrel after falling more than 2% in the previous session, while WTI remained around $85 per barrel. Investors continued to monitor geopolitical developments for signs of potential changes in global oil supplies. Gold remained close to a three-month high, supported by concerns over US fiscal conditions and expectations of continued demand for safe-haven assets. Gold traded near $4,680 per ounce, after gaining more than 7% over the previous four sessions. Spot gold rose 0.5% to $4,676.92 per ounce, while silver gained 0.9% to $69.53 per ounce. Platinum and palladium also advanced.

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