GIFT Nifty

The GIFT Nifty, an early indicator for the benchmark Nifty 50, is up 0.58% at 24,183 as of 6:49 am. Equity-index futures for the US (S&P 500) rose 0.07%. while Europe (Euro Stoxx 50) dipped 0.09%. 

India Market Recap

The benchmarks snapped a two-day losing streak. The NSE Nifty 50 closed 140.10 points, or 0.59%, higher at 24,005.85, while the BSE Sensex gained 443.97 points, or 0.58%, to end at 76,922.64. On the technical front, Nifty support is placed in the 23,900–23,800 range, while resistance is seen between 24,150 and 24,250.

US Market Recap

The main US stock market indices opened lower on Wednesday as investors sold chip stocks. This comes after Dow Jones and Nasdaq posted blockbuster first half this year. Nasdaq fell over 234.04 points at open at 25,994.23 level, S&P 500 was down 0.62% to open at 7,453.49, whereas the Dow Jones Industrial Average slipped 0.54% to 52,031.17 shortly after open. 

Asian Market Update:

Asian markets opened lower on Thursday, led by sharp losses in South Korea, as a renewed selloff in global technology shares imapcted investor sentiment. Japan's Nikkei 225 fell, extending losses after weakness in U.S. semiconductor stocks spilled over into regional markets. South Korea's Kospi declined 6.67%, while Japan's Nikkei 225 fell 2.23%. Australia's ASX 200 slipped 0.51%.

Commodity Check

Oil prices dropped for a third straight session on Thursday as crude shipments through the Strait of Hormuz continued to recover and investors remained optimistic that indirect negotiations between the US and Iran could reduce the risk of further supply disruptions. Brent crude for September delivery traded near $71 a barrel, extending losses after falling more than 3% over the previous two sessions. West Texas Intermediate (WTI) hovered around $68 a barrel.

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