India Market Recap

Indian equity benchmarks ended largely flat on Tuesday as weak global cues, escalating US-Iran tensions and rising crude oil prices weighed on investor sentiment. The Sensex remained below the 77,000 mark, while the Nifty 50 held above 24,000. The Bank Nifty declined more than 1%, pressured by heavy selling in banking stocks. On the technical front, Nifty support is placed at 23,900–23,800, while resistance is seen at 24,200–24,300.

US Market Recap

Wall Street ended sharply lower on Tuesday as investors assessed the impact of rising oil prices, higher global bond yields and renewed military tensions between the US and Iran. Concerns that elevated energy costs could fuel inflation and influence the Federal Reserve's interest-rate outlook weighed heavily on sentiment. The S&P 500 fell 0.7%, the Nasdaq 100 declined 1%, and the Dow Jones Industrial Average slipped 0.8%. The MSCI World Index also declined 0.7%. Markets are now pricing in around a 70% probability of a September rate hike, reflecting growing concerns over persistent inflationary pressures.

Asian Market Update

Asian markets traded lower on Wednesday as surging oil prices pushed global bond yields higher and raised concerns that central banks may be forced to maintain or tighten monetary policy. The MSCI Asia Pacific Index fell around 1%, with South Korea's market declining 2.9%. Japan's Topix dropped 1.6%, while Hang Seng futures were largely flat. Rising energy costs and geopolitical uncertainty remained the key drivers of risk-off sentiment across the region.

Commodity Check

Crude oil prices extended their rally for a third consecutive session as renewed US-Iran hostilities raised concerns over prolonged disruptions to energy flows through the Strait of Hormuz. Brent crude climbed above $95 per barrel after surging 4.6% in the previous session, while WTI traded near $91 per barrel. Persistent supply risks and geopolitical tensions continued to support crude prices. Gold remained under pressure as the sell-off in global bonds and renewed geopolitical tensions increased expectations that the Federal Reserve could raise interest rates to contain inflation. Spot gold traded near $4,329.16 per ounce, after falling nearly 6% over the previous three sessions to a two-week low. Silver was stable around $64.11 per ounce, while platinum and palladium edged lower.

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