India Market Recap

Indian equity benchmarks extended their losses for a second consecutive session on Tuesday, pressured by weakness in banking and Oil & Gas stocks amid the weekly Nifty expiry. The Nifty 50 declined 144.05 points, or 0.61%, to 23,635.10, while the BSE Sensex fell 555.23 points, or 0.73%, to 75,577. On the technical front, Nifty support is placed at 23,400–23,500, while resistance is seen at 23,750–23,850.

US Market Recap

US equities came under pressure as renewed tensions between the US and Iran over the Strait of Hormuz, along with trade frictions between the US and Canada, weighed on sentiment. A fresh surge in crude oil prices revived concerns over inflation and higher interest rates ahead of key inflation data. The S&P 500 fell for a second consecutive session, while the Dow Jones declined 1.2%. Short-term Treasury yields moved higher, with markets now pricing in more than a 50% probability of a Fed rate hike this month.

Asian Market Update

Asian equities opened higher, led by semiconductor stocks as investors remained optimistic about the artificial intelligence theme. South Korea’s Kospi gained 1%, supported by strong gains in chipmakers SK Hynix and Samsung Electronics after the Philadelphia Semiconductor Index rose 1.3% overnight. The MSCI Asia Pacific Index advanced 0.4%, with technology stocks leading gains. Hang Seng futures rose 0.2%, while Japan’s Topix gained 0.2%.

Commodity Check

Gold prices declined as rising Middle East tensions pushed crude oil higher, reviving concerns over inflation and interest rates. Spot gold fell 1% to $4,357.88 an ounce, while silver declined 0.7% to $65.70. Platinum and palladium also moved lower. Markets are now pricing in more than a 50% chance of a Fed rate hike this month, creating additional pressure on precious metals. Crude oil prices surged as Brent approached the $100-a-barrel mark following renewed US-Iran military tensions and concerns over disruptions through the Strait of Hormuz. Brent crude traded less than $1 away from $100, while WTI hovered near $95. Brent has gained more than 60% this year and is approaching the $100 level for the first time since late July.

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