The ongoing US-Israel conflict with Iran continues to influence global financial and commodity markets. Oil prices remain elevated despite increased Middle East exports and the planned release of emergency reserves by G7 countries.
The ongoing US-Israel conflict with Iran continues to influence global financial and commodity markets. Oil prices remain elevated despite increased Middle East exports and the planned release of emergency reserves by G7 countries.
The Indian stock market is closed on Friday, October 2, on account of Mahatma Gandhi Jayanti. Trading on the BSE and NSE, including equity and derivatives segments, will resume on Monday, October 5.
Asian equities moved lower on Friday as investors dealt with volatility in global bond and currency markets. The US 10-year Treasury yield briefly reached 5.34%, its highest level since 2002, before easing to around 5.25%.
The US-Iran conflict continues to be closely watched by global markets because of its effect on crude shipments and refined fuel supplies.
The ongoing war involving Iran remains an important factor for financial markets as investors monitor diplomatic developments and the effect on energy supplies.
Indian equity benchmarks are likely to begin October on a cautious note, with GIFT Nifty indicating a weak opening. GIFT Nifty was trading around 22,632 on Thursday morning, while the US 10-year Treasury yield climbed above 5.3%.
India has reduced the windfall tax imposed on exports of diesel and aviation turbine fuel with effect from October 1. The government communicated the change through an order issued late on Wednesday, easing the tax burden on exporters of the two petroleum products.
Indian equity markets are set for a cautious opening on Wednesday, September 30, with GIFT Nifty indicating a largely flat start. The Nifty 50 closed at 22,716.20 on Tuesday after touching a six-month low, while the Sensex also remained under pressure.
The ongoing US-Iran conflict remains an important factor for global financial markets, particularly because of its impact on energy supplies and shipping through the Strait of Hormuz.
The Indian rupee closed at Rs.95.98 against the US dollar on Tuesday as foreign equity outflows and elevated crude prices continued to weigh on the currency. Higher oil prices can increase India’s import bill and create additional pressure on the external balance.
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