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Gift Nifty stood at 23,487.5, down 3 points or 0.01%, at around 8:11 am, signalling a largely flat opening for Indian equity markets today.
Gift Nifty Today.
Gift Nifty was trading marginally lower on Thursday morning, signalling a largely flat opening for Indian equity markets after the Sensex and Nifty extended their losing streak in the previous session. Gift Nifty stood at 23,487.5, down 3 points or 0.01%, at around 8:11 am.
Indian equities are likely to remain under pressure as elevated crude oil prices, rising US Treasury yields and persistent geopolitical tensions continue to weigh on global risk appetite. Brent crude has moved above $101.50 a barrel, while WTI crude is trading in the $96-97 per barrel range, raising concerns over inflation and the global interest-rate outlook.
Ponmudi R, CEO of Enrich Money, a Sebi-registered online trading and wealth-tech firm, said, “Indian equities are expected to remain under pressure as elevated crude oil prices and rising US Treasury yields, amid persistent geopolitical tensions, continue to cloud the global macroeconomic outlook. WTI crude has climbed into the $96–97 per barrel range, while Brent is trading above $101.50 per barrel, reinforcing concerns over inflation and pushing U.S. Treasury yields higher as investors reassess the global interest-rate outlook. The combination of elevated energy prices and firming bond yields is likely to keep risk appetite subdued and weigh on emerging-market equities, including India.”
Geopolitical risks are also keeping investors cautious. Ponmudi said, “While U.S. President Donald Trump said the conflict with Iran could end ‘immediately’ after the midterm elections, the lack of clarity over the path to de-escalation is keeping investors cautious and the geopolitical risk premium firmly embedded in energy markets.”
The weak global backdrop is likely to add to the pressure on domestic equities. Asian stocks fell on Thursday, with Japan’s Nikkei 225 and South Korea’s Kospi declining more than 1% in early trade, while MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1%. The declines followed losses on Wall Street and European markets in the previous session as investors remained concerned about the impact of higher oil prices on inflation.
Brent crude futures were around $101.40 a barrel in early Asian trading after crossing the $100 mark on Wednesday for the first time since July. The escalation in fighting between Saudi Arabia and the Houthis in Yemen has added to concerns over disruptions to energy supplies from the Middle East.
US Treasury yields are another factor keeping markets under pressure. The benchmark 10-year US Treasury yield was around 4.84%, after climbing to its highest level since 2023 in the previous session. Higher oil prices and elevated bond yields could continue to weigh on emerging-market equities such as India by raising inflation concerns and reducing the appeal of riskier assets.
Investors will also keep a close watch on upcoming US inflation data. Producer price inflation is due on Thursday, followed by consumer price inflation on Friday. The data could provide fresh clues on the Federal Reserve’s policy trajectory, with markets currently pricing in around 60% odds of a rate hike at the Fed’s September 15–16 meeting.
On the domestic front, the Nifty 50’s technical setup remains weak. Ponmudi said the 23,550-23,600 zone has emerged as the immediate resistance area, with a sustained move above 23,600 potentially opening the way towards 23,800. However, a sustained break below 23,400 could trigger further selling pressure towards 23,200. The RSI remains deeply oversold in the mid-20s, indicating strong selling pressure while leaving room for a technical bounce.
“Overall, the near-term technical outlook remains bearish,” Ponmudi said.
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Ask News18Indian equity markets are under pressure due to elevated crude oil prices, rising US Treasury yields, and persistent geopolitical tensions, which collectively weigh on global risk appetite and the macroeconomic outlook.
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