GIFT Nifty

The GIFT Nifty, an early indicator for the benchmark Nifty 50, was up 0.60% at 24,118 as of 7:10 a.m. Positive global cues supported sentiment, with US S&P 500 futures rising 0.42% and European Euro Stoxx 50 futures gaining 0.19%.

India Market Recap

Indian equity benchmarks staged a strong recovery on Wednesday, recouping most of the losses recorded in the previous session. The rebound was aided by a sharp decline in crude oil prices, with Brent crude falling below pre-US-Iran conflict levels and easing concerns over inflation and India's import bill. The NSE Nifty 50 advanced 197.55 points, or 0.83%, to close at 24,021.65, while the BSE Sensex gained 790.54 points, or 1.04%, to settle at 76,991.22. Investor sentiment improved as easing geopolitical tensions and lower energy prices boosted risk appetite. On the technical front, Nifty support is placed in the 23,800–23,900 range, while resistance is seen between 24,100 and 24,200.

US Market Recap

Wall Street ended higher on Wednesday as technology stocks rebounded following a two-day selloff and declining oil prices improved overall market sentiment. The S&P 500 opened 0.48% higher at 7,401.10, while the technology-heavy Nasdaq Composite gained 0.57% at the open to 25,746.36. The Dow Jones Industrial Average also edged higher, opening nearly 50 points up at 51,703.37. The recovery in chip stocks provided significant support to broader markets, helping investors look past recent concerns over global growth and geopolitical tensions.

Asian Market Update:

Asian markets opened sharply higher on Thursday, led by strong gains in South Korea and Japan, as investors reacted positively to easing tensions in the Middle East and improving global market sentiment. South Korea's Kospi surged 5.24%, while Japan's Nikkei 225 climbed 2.38% in early trade. However, Australia's ASX 200 edged 0.36% lower. The strong performance across regional markets reflects growing optimism that geopolitical risks may continue to recede.

Commodity Check

Crude oil prices extended their decline on Thursday, with Brent crude falling back to levels seen before the US-Iran conflict. Improving supply conditions and optimism surrounding a potential peace agreement between the US and Iran continued to weigh on prices. Brent crude declined more than 1.5% to around $72.4 per barrel, while US benchmark West Texas Intermediate (WTI) fell 1.4% to about $69.3 per barrel. The sustained decline in oil prices is expected to provide relief to inflation concerns and support economic growth, particularly for oil-importing countries such as India.

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