GIFT Nifty

The GIFT Nifty, an early indicator of the Nifty 50, traded at 24,569.50, signalling a positive start for domestic markets compared with Monday's Nifty close of 24,492.

India Market Recap

Indian equity benchmarks extended their winning streak for a fourth consecutive session, supported by broad-based buying across sectors. The NSE Nifty 50 gained 159.50 points, or 0.66%, to close at 24,430.35, while the BSE Sensex advanced 521.16 points, or 0.67%, to settle at 78,285.07. Positive domestic sentiment, along with supportive global cues, helped the benchmarks maintain their upward momentum. On the technical front, Nifty support is placed in the 24,200–24,300 range, while resistance is seen between 24,550 and 24,700.

US Market Recap

Wall Street started the week on a positive note, led by a strong recovery in semiconductor and technology stocks after the previous session's selloff. The S&P 500 opened 0.5% higher at 7,519.23, while the technology-heavy Nasdaq Composite gained 0.81% to 24,042.04. The Dow Jones Industrial Average also extended its gains, opening 0.22% higher at 53,018.32, reflecting improved investor confidence.

Asian Market Update:

Asian markets traded lower on Tuesday as investors weighed renewed concerns over oil shipments through the Strait of Hormuz despite another record close for the Dow Jones Industrial Average overnight. South Korea's Kospi led regional losses, falling 3.23%, while Japan's Nikkei 225 slipped 0.07%. Australia's ASX 200 also edged 0.25% lower as investors remained cautious over geopolitical developments and their potential impact on global markets.

Commodity Check

Crude oil prices remained firm as investors monitored fresh security concerns in the Strait of Hormuz after a tanker near Oman was reportedly struck by a projectile, causing a fire onboard. While no injuries were reported, the incident highlighted that geopolitical risks in the region remain elevated. Brent crude traded above $72 per barrel, while US benchmark West Texas Intermediate (WTI) hovered near $69 per barrel. Although shipping activity through the Strait of Hormuz has gradually resumed following the easing of tensions between the US and Iran, vessel traffic remains below pre-conflict levels. Despite the recent recovery in oil prices, Brent crude remains significantly below the highs recorded earlier this year, reflecting improved supply expectations after the interim agreement between Washington and Tehran.

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