GIFT Nifty is trading at 23,290 as of 7:00 AM IST, signalling a Gap Down of approximately 40 points for the Nifty 50 at the 9:15 AM NSE open. While the gap is smaller than earlier this week, caution has returned to global markets with Asian indices slipping across the board. Wall Street was mixed overnight — Dow Jones edged up +0.17% but Nasdaq fell -0.97% and S&P 500 declined -0.26%, reflecting renewed pressure on technology stocks. Asian markets have followed the tech-led weakness — KOSPI drops -2.61%, Nikkei falls -0.88%, Straits Times sheds -0.82%, and Hang Seng slips -0.26%. Brent Crude has ticked up slightly to $91.84 (+0.43%), adding mild inflationary pressure.
Global Cues
US Markets
Wall Street delivered a mixed session — the Dow Jones managed a modest +0.17% gain (+86 points) but the broader market remained under pressure, with Nasdaq falling -0.97% (-250 points) and S&P 500 declining -0.26% (-19 points). The renewed weakness in tech stocks on Nasdaq suggests that the brief recovery seen on Tuesday may not have legs yet — investors remain cautious amid ongoing global uncertainty following last week's selloff.
Asian Markets
Asian markets have resumed their decline this morning, reversing much of yesterday's recovery. KOSPI leads the losses with a -2.61% drop (-211 points) — the second significant fall in three sessions for South Korea, suggesting continued fragility after last Monday's -7.41% crash. Japan's Nikkei 225 falls -0.88% (-576 points), Singapore's Straits Times drops -0.82%, and Hong Kong's Hang Seng slips -0.26%. The broad-based weakness across all four Asian markets tracked today confirms that selling pressure remains elevated and recovery is not yet firmly established.
Crude Oil
Brent Crude has edged up to $91.84 (+0.43%), continuing to hover in the low $90s range. While this is well below last Monday's $96.52 surge, the slight uptick adds a mild headwind for India. Rising crude increases import costs and widens the trade deficit — a mild negative for sectors like aviation, paints, and logistics. However at $91.84, the pressure remains manageable for Indian markets compared to the spike seen earlier this week.
What to Watch Today
Today's pre-market points to a cautious open with a small but meaningful Gap Down of ~40 points. IT stocks may face pressure given Nasdaq's -0.97% fall. However, with the Dow Jones holding positive, financial and FMCG sectors may provide some stability. Exercise caution and avoid aggressive long positions at today's open.