India Market Recap

Indian equity markets extended their decline on September 30, with the Nifty 50 falling for a third consecutive session. The index dropped 95 points to close at 22,620, ending near the day’s low and touching its lowest level since March 30, 2026. The latest decline has taken the Nifty more than 8.5% below its recent peak of 24,774, reflecting the extent of the ongoing correction. On the technical front, support is placed around 22,550–22,600, while resistance is seen in the 22,850–22,900 range.

US Market Recap

Nasdaq climbed on Wednesday, and the S&P 500 dipped, but both indexes notched their second straight quarterly gains, as a softer-than-anticipated inflation reading cooled expectations that Federal Reserve policymakers would hike rates in October. The Dow Jones Industrial Average fell 443.87 points, or 0.86%, to 50,906.05, the S&P 500 lost 19.30 points, or 0.25%, ‌to 7,651.54, and the Nasdaq Composite gained 63.52 points, or 0.24%, to 26,861.06. The S&P had risen as much as 0.7% while the Nasdaq had climbed as much as 1.2% on the session.

Asian Market Update

Asia-Pacific markets opened mixed on Thursday. Japan's Nikkei 225 rose 0.86%, while the Topix declined 0.44%. South Korea's benchmark Kospi was down 0.8%, while the small-cap Kosdaq Index started the trading day flat. Chinese markets were closed for the holiday. South Korea's exports jumped 83.5% in September from a year earlier to post a record monthly high, customs data showed on Thursday. Semiconductor shipments, fuelled by global spending on artificial intelligence, also set a record.

Commodity Check

Crude oil prices held on to recent gains on Thursday, October 1, as traders assessed whether Middle East supply flows could sustain a recovery towards pre-war levels, while fuel markets remained tight. Brent for December delivery traded near $98 per barrel after rising 1.9% in the previous session, while WTI hovered around $90. Although crude flows from the region are approaching pre-war levels, the recovery in fuel supplies has been comparatively weaker. Crude oil has now risen for a third consecutive month in September, with markets awaiting clarity on whether the US and Iran can reach a lasting agreement and fully reopen the Strait of Hormuz. President Donald Trump said the US had “total control” of the waterway and that Washington would respond to Iran shortly.

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