GIFT Nifty

The GIFT Nifty is trading lower by 1.52% at 23,091 as of 6:27 a.m., indicating a weak opening for the benchmark Nifty 50. US equity-index futures (S&P 500) are down 2.64%. European futures (Euro Stoxx 50) are lower by 0.68%.

India Market Recap

Indian equity benchmarks extended losses for the second consecutive week amid rising concerns over slowing growth and persistent inflationary pressures. The NSE Nifty 50 and the BSE Sensex both declined around 0.7% for the week after the Reserve Bank of India revised its inflation forecast upward and lowered GDP growth projections for the ongoing financial year. On Friday, benchmark indices ended lower in line with weak global cues, with the Nifty 50 and Sensex declining 0.21% and 0.16%, respectively. On technical front, Nifty support is around the 23100-22800 range, while resistance is between 23500-23550.

US Market Recap

US markets witnessed sharp selling pressure on Friday after stronger-than-expected US jobs data raised concerns that elevated interest rates could persist for longer, increasing financing costs for companies heavily investing in AI infrastructure. The Nasdaq Composite plunged 4.18% to 25,709.43, marking its steepest fall since April 2025. The S&P 500 dropped 2.64% to 7,383.74, while the Dow Jones Industrial Average fell 695 points to close at 50,866.78. For the week, the Nasdaq declined 4.7%, the S&P 500 fell more than 2%, while the Dow ended marginally lower.

Asian Market Update

Asian markets traded sharply lower on Monday amid rising global risk aversion and currency concerns in South Korea. South Korea’s Kospi plunged more than 8% before trading was temporarily halted, reversing part of its strong rally seen earlier this year. The selloff followed measures announced by the South Korean government to stabilise the won after the currency weakened to its lowest level since 2009. Japan’s Nikkei 225 dropped 3.4%, while the broader Topix index fell 2%. Hong Kong’s Hang Seng futures also traded lower, reflecting weak regional sentiment.

Commodity Check

Crude oil prices surged after Iran launched fresh missile strikes toward Israel, raising fears that the fragile ceasefire in the Middle East could collapse. Brent crude jumped as much as 3.6% to $96.47 per barrel, while WTI climbed near $94 before trimming some gains. Gold prices stabilised after last week’s sharp correction, as renewed geopolitical tensions revived safe-haven demand. Spot gold rose 0.2% to $4,337.91 per ounce in Singapore, while silver gained 0.2% after a steep decline in the previous week.

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