India Market Recap

Indian equity benchmarks ended lower on Wednesday after giving up their opening gains. The Nifty 50 declined 126.80 points, or 0.52%, to close at 24,207.75, while the Sensex fell 183.15 points, or 0.24%, to 77,472.94. On the technical front, Nifty support is placed at 24,000–24,100, while resistance is seen at 24,300–24,400.

US Market Recap

US equity futures and technology stocks gained after Nvidia delivered a strong sales outlook, boosting optimism around continued AI-driven growth. Nasdaq 100 futures rose 1.2%, while S&P 500 futures gained 0.6%. Meanwhile, July core PCE inflation increased 0.2% month-on-month, with the annual rate at 3.3%. Softer consumer spending may give the Federal Reserve more room to keep interest rates unchanged.

Asian Market Update

Asian markets gained around 0.6%, supported by Nvidia’s strong outlook and renewed optimism around AI-related technology stocks. South Korea’s Kospi led regional gains, while Japan’s Topix rose 0.4%. Hang Seng futures, however, declined 0.2%. Investors are also watching upcoming comments from the Federal Reserve for clues on the future interest-rate path.

Commodity Check

Gold remained above $4,600 an ounce, rising around 0.6% to $4,619.54, as investors awaited signals from the Federal Reserve at the Jackson Hole meeting. Silver gained 1.3% to $68.99. Meanwhile, Brent crude slipped towards $87 a barrel, extending its weekly decline beyond 7%, while WTI remained below $82. Copper fell 0.7% after touching a record closing high, although it remains up around 15% this year.

Stocks In News