India Market Recap

Indian equity benchmarks ended lower on Thursday, with the Nifty 50 settling at 23,063 and the Sensex at 73,581. The Nifty 50 declined 23 points from its provisional close, while the Sensex fell a further 139 points. Nifty Bank also slipped 26 points to 55,438, whereas the Nifty Midcap 150 gained 15 points to 22,470, indicating relative resilience in the broader market. On the technical front, Nifty support is placed at 23,000–22,900, while resistance is seen at 23,200–23,300.

US Market Recap

US equities remained volatile as renewed bond-market pressure and elevated crude oil prices raised concerns over inflation and the Federal Reserve’s interest-rate outlook. The S&P 500 recovered from deeper morning losses to finish largely flat after reports that US-Iran discussions could lead to a phased reopening of the Strait of Hormuz triggered a brief pullback in oil prices. The Nasdaq 100 also ended flat after paring losses, while the Dow Jones Industrial Average declined 0.3%.

Asian Market Update

Asian markets remained under pressure on Friday as a global bond selloff spread across the region. Elevated crude oil prices revived inflation concerns, pushing long-term Treasury yields to multi-decade highs and increasing expectations of further Federal Reserve rate hikes. Japan’s Nikkei 225 gained 0.48%, while the broader Topix rose 0.58%. Australia’s S&P/ASX 200 declined 0.50%, while markets in China and South Korea remained closed for a holiday.

Commodity Check

Gold remained on track for a weekly decline as elevated energy prices continued to support expectations of further interest-rate hikes by the Federal Reserve. Spot gold fell 0.1% to $4,271.54 an ounce and was down more than 2% from the previous Friday. Silver declined 0.2% to $63.68 and was headed for a weekly loss of nearly 4%, while platinum and palladium were largely unchanged. Crude oil prices eased after reports that US and Iranian negotiators were exploring a phased agreement that could facilitate the reopening of the Strait of Hormuz. Brent crude moved toward $106 a barrel after gaining more than 7% over the previous two sessions. The market remains focused on diplomatic developments and their potential impact on global energy supplies.

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