India Market Recap

Indian equity markets remained under pressure on October 1, with the Nifty 50 declining 0.88% and extending its losing streak to four consecutive sessions. Despite recovering more than 200 points from the day’s low, the index closed at a fresh six-month low. On the technical front, Nifty support is placed around 22,300–22,150, while resistance is seen in the 22,600–22,700 range.

US Market Recap

US equities ended higher on Friday after weaker-than-expected jobs data reduced expectations of an immediate Federal Reserve rate hike. The Dow Jones gained 250.40 points, or 0.49%, to 51,176.96, while the S&P 500 advanced 0.73% to 7,722.72. The Nasdaq Composite rose 1.19% to 27,190.86. US nonfarm payrolls increased by just 29,000, while the unemployment rate rose to 4.2% from 4.1% in August. Following the data, the probability of a 25-bps Fed rate hike at the October meeting declined to 22.7% from 24.4% in the previous session and 64.2% a week earlier.

Asian Market Update:

Asian markets traded higher on Monday, supported by softer US jobs data and reduced expectations of near-term Fed tightening, although elevated crude prices remained a concern. The MSCI Asia Pacific Index gained 0.5%, while Japan’s Nikkei 225 rallied 2.28% and the Topix advanced 1.07%. Markets in mainland China and South Korea remained closed for holidays.

Commodity Check

Crude oil prices moved higher on Monday after Yemen’s Iran-backed Houthis reportedly launched ballistic missiles and drones targeting Saudi Aramco facilities in Riyadh and the Khurais area, raising concerns over supply disruptions from the region’s largest exporter. Brent crude futures rose 81 cents, or 0.79%, to $103.06 per barrel, while WTI gained 46 cents, or 0.50%, to $91.57 per barrel. Elevated geopolitical risks and uncertainty over Middle East supply remain key factors for oil markets.

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