India Market Recap

Indian equity benchmarks ended lower on Tuesday, dragged down by selling pressure in Consumer Durables, Realty and IT stocks. The Nifty 50 declined 64.05 points (0.28%) to close at 22,716.20, while the BSE Sensex fell 242.65 points (0.33%) to 72,529.07. On the technical front, Nifty support is placed at 22,600–22,500, while resistance is seen at 22,800–23,000.

US Market Recap

US stocks and bonds declined despite a pullback in crude oil prices, as investors remained concerned that elevated energy costs could keep inflation high and prompt further Federal Reserve rate hikes. The 30-year US Treasury yield rose to its highest level since 2002, while the dollar strengthened and the euro slipped to a 16-month low. The S&P 500 fell 0.2%, the Dow Jones declined 0.3%, while the Nasdaq 100 edged up 0.2%. Investors remain focused on inflation trends and the outlook for interest rates.

Asian Market Update

Asian markets rebounded for the first time in three sessions, supported by technology stocks, while investors monitored bond yields ahead of a key US inflation report. The MSCI Asia Pacific Index advanced 0.6%, with Japan’s Topix gaining 0.9%. Hong Kong’s Hang Seng futures slipped 0.3%. Sentiment also drew support from gains in a US semiconductor index and developments in AI regulation. In China, mortgage subsidies and adjustments to bank lending policies signalled further efforts to support the slowing economy.

Commodity Check

Brent crude traded above $100 per barrel on Wednesday as uncertainty over the reopening of the Strait of Hormuz continued amid the US-Iran conflict. Brent was up 0.31% at $102.90 per barrel, while WTI slipped 0.1% to $89.28. Prices had declined sharply on Tuesday after signs of recovery in Saudi crude exports from Red Sea ports. Brent futures fell 2.6% to $102.59, while WTI declined around 3.5% to $89.38 per barrel.

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