India Market Recap

Indian equity benchmarks ended lower on Thursday, pressured by weakness in metal, banking and cement stocks. The Sensex fell 0.70% to close at 76,933.59, while the Nifty 50 declined 0.48% to 24,090.85. HDFC Bank and NTPC were among the key losers. 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 stock futures traded slightly lower as investors remained cautious ahead of Fed Chair Kevin Warsh’s Jackson Hole speech, looking for clues on interest rates. The initial optimism following Nvidia’s strong outlook faded, while Nasdaq 100 futures fell 0.2%, weighed down by a more than 7% decline in Marvell Technology after its results.

Asian Market Update

Asian markets traded modestly higher, with investors awaiting the Federal Reserve’s guidance on interest rates. The regional index gained around 0.2%. Japan’s Topix rose 0.7%, while Hang Seng futures declined 0.5%. The yen remained near 159.35 per dollar after Japan’s key inflation gauge accelerated for the third consecutive month.

Commodity Check

Gold remained near $4,600 an ounce, with investors awaiting signals from the Fed. Spot gold was around $4,603, while silver rose slightly to $69.28. Gold remains on track for its strongest monthly gain since 1999. Among base metals, zinc slipped 0.2% from a more than four-year high, while copper and aluminium gained 0.2% and 0.3%, respectively. Meanwhile, Brent crude fell 0.19% to $88.35, while WTI declined 0.29% to $83.29, as markets weighed Strait of Hormuz uncertainty against rising risks to Russian energy infrastructure.

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