India Market Recap

Indian equity benchmarks erased their early gains to trade largely flat on Tuesday as mixed global cues and elevated crude oil prices kept investors cautious. Concerns over inflation and the possibility of higher US interest rates continued to weigh on sentiment. The Sensex remained near 74,800, while the Nifty 50 traded below 23,400. On the technical front, Nifty support is placed at 23,000–22,900, while resistance is seen at 23,300–23,500.

US Market Recap

US equities ended lower on Tuesday as Treasury yields climbed to their highest levels in years ahead of the Federal Reserve’s interest-rate decision. The rise in yields added pressure on equities, particularly growth-oriented stocks, as investors positioned for a potential rate hike. The S&P 500 declined 0.4%, while the Nasdaq 100 fell 0.6%. The US 10-year Treasury yield briefly rose four basis points to 5.03%, its highest level since 2007, before easing to around 5.01%.

Asian Market Update

Asian markets traded mixed on Wednesday as investors remained cautious ahead of the Federal Reserve’s policy decision and amid elevated crude oil prices. Japan’s Nikkei 225 slipped 0.05%, while the broader Topix gained 0.82%. South Korea’s Kospi advanced 0.84%, although the Kosdaq declined 1.28%. Hang Seng Index futures indicated a higher opening.

Commodity Check

Crude oil prices eased after an unexpected build in US inventories, although prices remained above $100 a barrel amid ongoing supply concerns. Brent crude futures declined 0.53% to $108.17 a barrel, while WTI futures fell 0.82% to $104.96. Supply risks remain elevated after Saudi Arabia suspended oil loadings at the Yanbu port following an attack on its East-West pipeline connecting the country’s oil-producing region to the Red Sea.

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