India Market Recap

Indian equity benchmarks traded higher on Friday, supported by buying across IT, realty and energy stocks amid positive global cues. The Sensex gained over 500 points, or 0.7%, to move above 76,600, while the Nifty 50 advanced over 0.2% and reclaimed the 23,900 mark. Bank Nifty also crossed 57,500. On the technical front, Nifty support is placed at 23,800–23,700, while resistance is seen at 24,000–24,100.

US Market Recap

US equities ended lower on Friday after mixed employment data showed stronger-than-expected job growth in August, while the unemployment rate remained steady. The Dow Jones Industrial Average declined 0.51% to 53,414.25, the S&P 500 fell 0.38% to 7,718.60, and the Nasdaq declined 0.29% to 26,506.99. Wall Street will remain closed on Monday for the Labour Day holiday.

Asian Market Update

Asian markets opened broadly higher on Monday, despite renewed US-Iran military tensions keeping investors cautious about further disruptions in the Middle East. South Korea’s KOSPI surged 3.18%, Japan’s Nikkei 225 gained 2.03%, and Australia’s S&P/ASX 200 rose 0.36%, while the Hang Seng and Shanghai Composite were largely unchanged. Gains in US chipmakers such as Micron Technology and Advanced Micro Devices supported sentiment across the region.

Commodity Check

Crude oil prices remained elevated as the ongoing US-Iran conflict continued to raise concerns over disruptions to oil flows through the Strait of Hormuz. Brent crude futures rose 0.75% to $96.57 a barrel and gained nearly 8% last week. Oil prices also remained supported after OPEC+ decided to keep its October production policy unchanged, while indicating that new production quotas would need to be agreed before determining further output changes.

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