Stock Index

Foreign institutional investors were net buyers of Indian equities on September 1, with net purchases of Rs 1,143 crore, while domestic institutional investors bought a net Rs 1,847 crore. The Nifty 50 slipped 0.1% to 24055.80 and the Sensex eased 0.02% to 76944.28. Brent crude rose above $92 a barrel and higher global bond yields weighed on risk appetite amid renewed USIran tensions. India’s Q1 GDP growth of 7.8% offered some support, though crude prices, geopolitics and foreign flows remained key drivers.

U.S. stock futures fell in premarket trade on Tuesday, with Dow futures down about 255 points, or 0.5%, while S&P 500 and Nasdaq 100 futures slipped 0.5% and 1%. Oil prices jumped after the U.S. and Iran exchanged fire in the Strait of Hormuz, lifting Brent crude above $92 a barrel. The 10-year Treasury yield rose to 4.79%, stoking concern that the Federal Reserve could raise rates again. Investors are also looking ahead to JOLTS, the ISM manufacturing PMI, and the monthly jobs report due later this week.

A renewed U.S.-Iran military clash in the Strait of Hormuz pushed Brent crude above US$90 a barrel and sent the U.S. 10-year Treasury yield to a 19-month high. Hawkish remarks from U.S. Federal Reserve chief Kevin Warsh added to risk-off sentiment, weighing on Asia-Pacific equity index futures in overnight trade. Nikkei 225 night futures closed down 630 points at 65,820, while Hang Seng Index night futures slipped 107 points to 25,346.

U.S. stocks closed lower on Aug 31, with the Dow dropping 374 points to 53,185.90 as the S&P 500 and Nasdaq also slipped. A surge in oil prices driven by geopolitical conflict revived inflation concerns and pushed expectations for a 25-basis-point Fed rate hike in September above 65%. Energy stocks outperformed, with Halliburton and Valero Energy each up 1.9%. GameStop rose 2.9% after it said it would use cash to cover about 27% of a debt exchange, avoiding further share dilution.

Strategy, formerly MicroStrategy, has sent a letter to MSCI opposing a proposal to exclude “nonoperating companies” from its global investable market indexes. The company called the proposal misleading and flawed, saying it discriminates against digital asset firms and raises questions about MSCI’s impartiality. MSCI said earlier this month it is consulting on the definition and plans to exclude such companies, according to ChainCatcher. Strategy said it employs about 1,500 people and is the world’s largest corporate bitcoin holder with 845,050 bitcoins.

U.S. stocks closed broadly lower on Monday, with the Dow, S&P 500 and Nasdaq all finishing in the red. Amazon fell 2.50% after being sued by the U.S. Federal Trade Commission, weighing on sentiment. Oil prices surged on renewed U.S.-Iran clashes, lifting WTI and Brent crude futures to $85.76 and $90.49 a barrel. Inflation concerns kept U.S. Treasury yields elevated, and markets now see the odds of a September Fed rate hike at above 50%.

Renewed Middle East tensions, including the first US-Iran exchange of strikes in about a month, pushed WTI crude up more than 2%. Higher energy costs stoked inflation worries and sent the 10-year US Treasury yield to a 19-month high of 4.75%, while markets lifted the odds of a Fed rate hike next month to 64% from 36%. Major US equity benchmarks fell broadly, with declines across the S&P 500, Dow and Nasdaq.

HDFC Bank shares rose nearly 3% in early trade on Monday after the lender said CEO Sashidhar Jagdishan will not seek reappointment when his current term ends in late October. The stock climbed to ₹739.75 from the previous close of ₹720.30 before trimming gains. Investors are focusing on the bank’s succession plans following the announcement.

Indian equities are expected to open lower on 31 August as weak global cues and renewed US-Iran tensions weigh on risk appetite. In the previous session, the Sensex rose 330 points to 77,264 and the Nifty 50 gained 84 points to 24,175. Brent climbed to $89.18 and WTI to $84.32 after US strikes near the Strait of Hormuz lifted supply-disruption concerns, according to the report. Technicians said a sustained break lower could pull the Nifty 50 toward the 23,800–23,650 band.

Asia-Pacific stock markets broadly fell on Monday after Federal Reserve Chair Kevin Warsh signaled a possible rate hike in September. South Korea’s Kospi at one point sank more than 3%, while Japan’s Nikkei 225 fell 1.69% and the MSCI Asia Pacific index slipped 0.8%. U.S. equity futures also moved lower, with S&P 500 futures down 0.5% and Nasdaq 100 futures off 0.7%.