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June 12, 20263 min

Opening Bell - 12 / 06 / 2026

Opening Bell - Morning CommentaryHopes of IRAN-US Breakthrough Bouy Global MarketsIndian markets posed to open on a constructive note, buoyed by progress on U.S. – Iran agreementU.S. equities rallied sharply on Thursday, led by a strong rebound in semiconductor stocks, after President Donald Trump announced the suspension of planned strikes on Iran and signalled that a deal with Tehran is nearing completion.Trump yesterday stated that the U.S. is close to finalizing an agreement ensuring Iran will not develop nuclear weapons, adding that the deal is in its final stages and expected to be signed soon.The S&P 500 advanced 1.75% to close at 7,394.30, while the Nasdaq Composite surged 2.54% to 25,809.66. The Dow Jones Industrial Average gained 929.97 points, or 1.86%, to settle at 50,848.75.A rebound in Micron Technology, Advanced Micro Devices and Intel provided momentum to the market. The iShares Semiconductor ETF (SOXX) gained more than 8%. On the macro front, the U.S. Producer Price Index rose 1.1% in May, exceeding expectations of 0.7%. However, core PPI, which excludes food and energy, came in at 0.4%, slightly below estimates of 0.5%.Crude oil prices declined sharply, with WTI falling toward $86 per barrel, its lowest level since April, following easing geopolitical tensions. Treasuries rallied on Thursday, sending yields lower across the board, as oil dropped. Gold extended its climb to over $4,210 an ounce. The dollar was a touch stronger against all its Group-of-10 peers.Asian markets opened firmly higher, tracking the strong rally on Wall Street amid optimism surrounding the potential U.S.–Iran agreement.Back home, Indian benchmark indices witnessed another volatile session. The Nifty ended 53 points lower at 23,161. After opening with a gap-down of 110 points on weak global cues, the index staged a sharp intraday recovery of over 250 points. However, selling pressure in the latter half erased gains, dragging the index down more than 230 points from the intraday high of 23,327. Broader markets continued to underperform for the second consecutive session, with the Nifty Midcap 100 and Nifty Smallcap 100 declining by 0.81% and 0.67%, respectively.After two sessions of gains, the Indian Rupee depreciated by 50 paise yesterday, pressured by rising Middle East tensions, fresh dollar demand due to forward maturities, and a rebound in the dollar index driven by safe-haven flows.Technically, Nifty found support near the previous swing low of 23,070 and attempted a recovery. This price action indicates the potential formation of a double bottom pattern on the daily chart, highlighting the significance of the 23,070 support level. For further upside, a decisive breakout above 23,425 is crucial. A sustained move above this level could trigger a pullback rally toward the next resistance at 23,700.Indian markets are set to open higher on conducive global cues.

June 11, 20263 min

Opening Bell - 11 / 06 / 2026

Opening Bell - Morning CommentaryU.S. stocks Fell Sharply as President Trump Threatens more Iran attacksU.S. stocks tumbled sharply on Wednesday after President Donald Trump warned that talks with Iran were “taking too long” and threatened further action. The Dow plunged 953.33 points (1.87%) to 49,918.78, the S&P 500 slipped 1.62% to 7,266.99, and the Nasdaq Composite fell 1.98% to 25,169.50.Semiconductor names again led the weakness. Micron Technology, Advanced Micro Devices and Broadcom all declined, marking their fourth down day in five sessions. The iShares Semiconductor ETF (SOXX) dropped more than 3%.Some traders attribute selling in chip names to position adjustments ahead of Friday’s SpaceX IPO, with retail investors freeing up capital for what could be the largest IPO ever.On the macro front, May’s core consumer price index (ex-food and energy) was a bit lower than expected at 0.2% month-on-month versus a 0.3% consensus. Year-on-year core CPI held at 2.9%, matching estimates but still above the Fed’s 2% target. Headline inflation, which includes all items, climbed above 4% for the first time in three years.In commodities, gold plunged over 4% amid a stronger dollar and equity weakness, while oil rallied after fresh U.S. strikes on Iran stoked fears of prolonged supply disruptions. Brent August futures gained nearly 2% to about $95 a barrel.Asian markets opened lower, dragged by the Wall Street selloff and rising crude, with renewed U.S.-Iran tensions adding to risk-off sentiment.Coming to our markets, Indian benchmark indices witnessed another volatile session yesterday, with the Nifty closing 27 points lower at 23,214. After a muted start the index rallied more than 200 points from early lows in the first half, but a sharp reversal in the second half erased gains.The broader markets faced significant selling pressure, with the Microcap 250, Smallcap 100, and Midcap 100 all forming bearish engulfing patterns on the daily charts. After Monday’s outperformance, these indices lagged the benchmark yesterday, as the Nifty Midcap 100 and Smallcap 100 fell 1.49% and 1.33%, respectively. Market breadth weakened considerably, with the BSE advance-decline ratio sliding to 0.54.Technically, Nifty remains in a downtrend, trading below all key moving averages. A decisive close below 23,000 could trigger further downside towards the 22,700–22,800 support zone, while 23,515 is expected to act as immediate resistance on any pullback.Indian markets are expected to open lower on the back of weak global cues

June 10, 20263 min

Opening Bell - 10 / 06 / 2026

Opening Bell - Morning CommentaryU.S. stocks ended mixed but recover from deep losses amid renewed US-Iran tensionsU.S. equities ended mixed on Tuesday, recovering from steep intraday losses amid heightened geopolitical tensions after President Donald Trump warned of retaliation following an Iranian attack that shot down an American helicopter. The S&P 500 slipped 0.3% to close at 7,385.48, recovering from an intraday decline of as much as 2.3%. The index recorded a sharp 3.4% bottom-to-top reversal—its second largest since April 2025, when the Trump administration paused additional tariffs, according to Bloomberg data.The Nasdaq Composite fell 1% to 25,678.82, trimming a steeper fall of 3.7%, while the Dow Jones Industrial Average edged up 0.1% to 50,870.94 after reversing losses of up to 1.1%.Sentiment weakened after initial hopes of Middle East de-escalation faded, with Trump confirming that Iran had shot down a U.S. helicopter over the Strait of Hormuz.In commodities, gold and silver dropped to two-month lows amid rising rate expectations and geopolitical developments. Brent crude rebounded 1% today to $92.50 per barrel after briefly slipping below $90 yesterday.Asian markets trading lower today, tracking geopolitical concerns and a selloff in technology stocks. On the domestic front, The Indian rupee appreciated by 36 paise yesterday to close at 95.35 against the dollar, supported by a risk-on sentiment driven by a weaker US dollar and softer crude oil prices amid easing geopolitical concerns. Additionally, renewed inflows into the debt market, following recent RBI measures, lent further support to the currency.Indian markets rebounded strongly yesterday after sharp fall on the Monday. The Nifty 50 gained 119 points and ended near day high to close at 23243. Broader markets outperformed, with midcap and smallcap indices posting gains, supported by strong market breadth.Technically, Nifty managed to hold above the previous session’s low of 23,070, which is a constructive sign indicating buying interest at lower levels. However, the current rebound is not sufficient to confirm a trend reversal. A decisive move above 23,516 is required to negate the prevailing downtrend. On the downside, the 23,000–23,100 zone remains a key support. A break below 23,000 could accelerate declines toward the 22,700–22,800 zone.Indian markets are expected to open mildly lower, tracking weak Asian cues, while midcap and smallcap stocks are likely to continue their outperformance.

June 8, 20263 min

Opening Bell - 08 / 06 / 2026

Opening Bell - Morning CommentaryA Trillion-Dollar SelloffWall Street experienced a significant downturn as the tech-heavy Nasdaq plunged 4.18%, marking its steepest single-day decline since early 2025. This selloff was primarily driven by heavy losses in the semiconductor industry, with major players like Nvidia and Micron seeing sharp drops following a robust May jobs report that increased the likelihood of a Federal Reserve interest rate hike. Friday's market rout erased $1.4 trillion in S&P 500 value, triggered by Broadcom's disappointing AI revenue guidance and a strong May jobs report that reignited fears of further Federal Reserve rate hikes.SpaceX plans to raise at least $75 billion by selling over 555 million shares at $135 apiece, setting a valuation of over $1.75 trillion in what would be one of the largest IPOs in history. Demand for SpaceX shares has triggered significant selling across other equities as retail and institutional buyers raise cash.The 2-year Treasury yield reached 4.17%, its highest level since February 2025, while the 10-year yield rose to approximately 4.55% as investors reacted to a hot labor market report. This surge reflects growing market consensus that persistent inflation and economic resilience may force the Federal Reserve to adopt a more hawkish monetary stance through the remainder of the year.Asian markets tumbled sharply on Monday, with South Korea's chip-heavy KOSPI dropping 8% and triggering a 20-minute trading halt before recovering intraday to 4.5% losees, while Japan's Nikkei fell 3.5% in today's trade. Global oil prices climbed on escalating U.S.-Iran tensions, with Brent crude trading near $96 per barrel as missile exchanges threatened to unravel a fragile ceasefire and stoke supply disruptions. Prices surged further after Iran launched multiple missile waves at Israel following renewed Israeli airstrikes on Beirut. OPEC+ on Sunday agreed to lift output targets by 188,000 bpd from July — its fourth straight monthly increase — but the move is largely symbolic. Gulf state export restrictions have gutted actual production, with April output collapsing to 33.19 million bpd from 42.77 million bpd in February.India's GDP grew 7.8% in Q4 FY26 (January-March 2026), beating expectations. The full-year FY26 growth came in at 7.7%, up from 7.1% in FY25 and slightly above the government's earlier forecast of 7.6%. Growth was driven by strong manufacturing, services, consumption, and investment, though agriculture slowed. The RBI has since cut its FY27 growth forecast from 6.9% to 6.6%, citing geopolitical tensions and monsoon uncertainties.The RBI's MPC announced on Friday that the repo rate will remain unchanged at 5.25% for the third consecutive meeting, maintaining the "neutral" policy stance. The committee raised India's CPI inflation projection for FY27 to 5.1% from 4.6%, while lowering the FY27 GDP growth forecast to 6.6% from 6.9%, amid concerns over the Middle East conflict and rising crude oil prices. The Standing Deposit Facility (SDF) rate continues at 5%, with MSF rate and Bank Rate unchanged at 5.5%, ensuring liquidity management remains aligned with the monetary framework. The MPC voted unanimously for the status quo on rates, citing the weakening rupee, geopolitical risks to economic growth, and the need to monitor inflation dynamics more closely before considering any further rate adjustments. Governor Sanjay Malhotra emphasised India's resilience against global economic shocks while maintaining confidence in price stability and supporting sustainable growth in the coming quarters.Nifty has been consolidating in a narrow range, indicating a lower-range consolidation. The index remains below key moving averages, maintaining a bearish bias. Near-term support lies in the 23,000-23,100 band, while immediate resistance is placed at 23,557. Indian markets are poised to open sharply lower on the back of weak global cues.

June 3, 20263 min

Opening Bell - 03 / 06 / 2026

Opening Bell - Morning CommentaryMarkets Navigate AI Optimism and Middle East Tensions, Global AI Rally Lifts Nifty ITMajor U.S. stock indexes - the S&P 500, Dow Jones, and Nasdaq — notched record highs for a fifth consecutive session, marking the longest such streak since 2017, driven by sustained investor enthusiasm for artificial intelligence infrastructure and semiconductors.The S&P 500 edged up 0.13% to close at 7,609.78, extending its longest winning streak in over a year. The Nasdaq Composite advanced modestly in tandem, lifted by chipmaker outperformance and persistent appetite for AI-driven growth — even as geopolitical tensions exerted a countervailing drag.Alphabet fell nearly 4% after announcing plans to raise $80 billion through equity issuance to fund its AI buildout, which targets up to $190 billion in capital expenditures for 2026. The raise includes a $10 billion commitment from Berkshire Hathaway.Infrastructure optimism fueled broad gains across the semiconductor sector: Texas Instruments rose 4%, Broadcom rose 5.2%, Monolithic Power rose 5.36%, and Microchip rose 5.94%. Texas Instruments stands out as the year-to-date leader in the space — up 76% versus Nvidia's 19% — powered by a 90% year-over-year surge in data center revenue in Q1.Marvell Technology surged over 30% after Nvidia's CEO suggested the company could become the next trillion-dollar chipmaker. Hewlett Packard Enterprise gained 19% following strong earnings and an acceleration of its long-term financial targets, underpinned by robust demand for AI servers.U.S. Central Command confirmed Tuesday that it intercepted multiple Iranian ballistic missiles and drones and launched defensive strikes in response to what it described as attempted attacks — the latest exchange threatening an already fragile regional ceasefire.Bitcoin tumbled more than 5%, falling through the $70,000 and $68,000 support levels to its lowest price since April. The sell-off was triggered by Strategy Inc. (formerly MicroStrategy) disclosing an unusual bitcoin sale, which cascaded into broader weakness across digital assets, including Ethereum and Solana.Oil prices continued to climb as Iranian missile activity and contradictory signals from U.S.-Iran diplomatic talks sustained a geopolitical risk premium in energy markets. Uncertainty over the Strait of Hormuz, compounded by declining U.S. crude inventories, reinforced supply-tightening concerns.Asia-Pacific markets opened broadly higher today, with Japan’s Nikkei 225 hitting a record high, as investors appeared to look past uncertainty over U.S.-Iran negotiations aimed at ending the Middle East conflict.The rupee began the month on a subdued note but weakened as the session progressed, pressured by rising crude oil prices, geopolitical concerns, and persistent foreign capital outflows. After opening lower, the currency continued to decline and settled near its intraday low, reflecting sustained dollar demand from importers.Nifty snapped its four-day losing streak, gaining 100 points to close at 23,483 yesterday. The Nifty IT index surged over 4%, marking its largest single-day rally of the year. Nifty briefly breached the swing low of 23,262 but managed to hold above the lower band of the April 8 upward gap at 23,153. The index also sustained above the key support level of 23,106. Yesterday's low of 23229 now serves as an important support. A decisive trend reversal would require a close above 23,800.Indian markets are poised to open subdued on higher crude oil prices.

May 29, 20262 min

Opening Bell - 29 / 05 / 2026

Opening Bell - Morning CommentaryS&P 500 and Nasdaq hit record closing highs on hopes of an extended U.S.- Iran ceasefireU.S. equities extended their rally on Thursday, with both the S&P 500 and Nasdaq 100 closing at record highs for a third consecutive session. The gains were driven by improving geopolitical sentiment after reports indicated that the U.S. and Iran are close to finalizing a deal to temporarily halt their three-month conflict. The S&P 500 advanced 0.6%, marking its sixth straight day of gains, led by strength in healthcare and technology stocks. The Nasdaq 100 outperformed, rising 0.8%, while the Dow Jones Industrial Average edged up 0.05%.Dell Technologies delivered strong earnings beat post-market, with shares surging over 20% in extended trading. The company also issued an upbeat outlook, highlighting robust demand for AI-driven data center infrastructure, particularly its Nvidia-powered servers.On the macro front, U.S. economic data presented a mixed picture. Inflation-adjusted consumer spending climbed 0.1% in April, in line with expectations. Core PCE prices in April rose 0.2% for the month and 3.3% for the year, against estimates of 0.3% and 3.3%, the Commerce Department reported Thursday.U.S. initial jobless claims increased by 5,000 to a seasonally adjusted 215,000 for the week ending May 23, 2026, according to the U.S. Department of Labor. The US economy also grew at a slower-than-expected pace in the first quarter, with GDP expanding at an annual rate of 1.6%, short of economist forecasts for 2% growth and down from 2% in the prior quarter.Energy markets saw a significant shift as benchmark U.S. crude prices dropped from nearly $93 to approximately $88 per barrel. The drop reflects easing supply concerns amid progress in U.S.-Iran ceasefire negotiations, which could help stabilize global energy markets.Asian markets traded higher on Friday, tracking the positive global sentiment and optimism surrounding geopolitical developments.On the domestic front, Wipro has announced an expanded partnership with ServiceNow to implement and scale agentic AI workflows across core enterprise functions. The collaboration aims to reduce manual coordination, improve operational visibility, and accelerate execution at enterprise scale. Wipro ADR surged over 18% yesterday on Wall Street.Out of the Nifty pack, Asian Paints and IndiGo are scheduled to announce their quarterly and annual results today.Indian markets ended Wednesday on a muted note. The Nifty 50 slipped marginally by 6 points to close at 23,907, extending its losing streak to a second session. Broader markets continued to outperform, with midcap and smallcap indices posting gains, supported by positive market breadth.Indian markets are expected to open subdued as they are likely to absorb global cues of last two days. Technically, immediate support for the Nifty is seen at 23,800, aligned with the 20-day EMA and prior breakout zone, with a stronger base near 23,600. On the higher side, recent swing high of 24100 is likely to act as an immediate resistance.

May 27, 20262 min

Opening Bell - 27 / 05 / 2026

Opening Bell - Morning CommentarySemiconductors Surge, Yields RetreatThe S&P 500 and Nasdaq closed at all-time highs on Tuesday, led by a historic surge in semiconductor stocks. Micron Technology jumped 19% on AI optimism, pushing its market capitalisation past $1 trillion. The Nasdaq 100 also hit a record, while the Dow Jones edged down roughly 0.2%.NVIDIA reported blockbuster quarterly earnings, with CEO Jensen Huang projecting the company could capture $35 billion for every $50 billion in AI infrastructure spending. Despite strong results, shares traded at $214.87 — below the 52-week high of $236.54 — with BofA noting the stock sits at just 17.5x 2027 earnings, well below its five-year average.Oil prices showed mixed movement as investors weighed U.S. strikes on Iranian vessels against positive rhetoric regarding potential peace negotiations. These geopolitical developments remain central to market sentiment as they directly impact global inflation pressures.U.S. Treasury yields retreated following the Memorial Day holiday as investors reacted to potential progress in negotiations to end the war with Iran. The 10-year Treasury yield dropped more than 8 basis points to settle at 4.489% as markets weighed the prospect of a deal that could reopen the critical Strait of Hormuz. Asia-Pacific markets rose on Wednesday, with Japan and South Korea’s benchmark indices hitting new highs as investors assessed recent U.S. military action in Iran, the fragile state of the Washington-Tehran ceasefire and optimism that a deal could still be reached.Shares of SK Hynix jumped as much as 11% on Wednesday, lifting the South Korean chipmaker’s market capitalisation above $1 trillion as investors continued to pile into artificial intelligence-linked semiconductor stocks.China’s industrial profits in April surged by 24.7% from a year earlier, according to official data released Wednesday, marking the fastest growth since November 2023.The increase accelerated from a 15.8% rise in March,Indian rupee snapped its three-day winning streak, with a sharp 45-paise depreciation. The local currency buckled under heavy pressure, driven by a weakening of the Asian currency basket, a shift toward global risk aversion, and a spike in crude oil prices following US military strikes.From Nifty, the earlier breakout zone of 23,800–23,850 is expected to act as immediate support, followed by 23,600. On the upside, 24,100 remains a key near-term resistance level.Indian markets are poised to open flat to mildly negative, tracking subdued global cues. The monthly expiry of Sensex derivatives is expected to drive volatility in today's session. With markets closed tomorrow for a public holiday, traders may look to reduce their positions ahead of the break.

May 26, 20262 min

Opening Bell - 26 / 05 / 2026

Opening Bell - Morning CommentaryDeal Optimism Lifts Markets, but Fresh Strikes Cloud the OutlookIran's top negotiator and foreign minister travelled to Doha for talks with Qatar's prime minister on a potential agreement to end the war, even as Washington and Tehran both played down hopes for an imminent breakthrough.Investor optimism over a U.S.-Iran peace deal was tempered by fresh U.S. strikes in the Middle East. U.S. Central Command said the strikes were intended to protect the troops from threats posed by Iranian forces, as President Trump continued pressing for a regional peace deal. Trump also urged Arab nations to sign the Abraham Accords, which would normalise relations with Israel.On Monday, stocks surged while the dollar and oil prices fell as optimism about a deal lifted risk appetite. Brent crude dropped to around $95 a barrel amid signs of a potential ceasefire and hopes of restored flows through the Strait of Hormuz, though some investors cautioned that a finalised agreement could take time.Foreign ministers from Australia, India, Japan, and the U.S. are set to meet in New Delhi to reinvigorate the Indo-Pacific grouping known as the Quad.The European Commission cut its 2026 Eurozone growth forecast to 0.9% from 1.2%, citing fallout from the Middle East conflict, while revising its inflation projection upward to 3.0% due to soaring energy costs.Indian equities staged a sharp recovery on May 25, with the Nifty surging over 300 points past the key 24,000 level, lifted by improved global risk appetite on reports of progress in U.S.-Iran peace talks.The rupee also rebounded, strengthening toward the month-end after touching a historic intraday low of 96.6 against the dollar. The currency has been under sustained pressure in 2026 — weighed down by elevated crude prices and foreign outflows — but the shift in Middle East diplomatic sentiment has offered meaningful relief.Nifty's decisive close above 23,800 marks a breakout from its consolidation range. The next resistance levels sit at 24,370 and 24,600, while 23,800 now flips to immediate support.Indian markets are set to open flat, with U.S. markets closed yesterday leaving little in the way of global cues. Price action over the next two sessions will largely be shaped by derivative expiries — NSE today and BSE tomorrow — before markets shut for a holiday on Thursday. Expect broad consolidation following yesterday's surge.

May 22, 20262 min

Opening Bell - 22 / 05 / 2026

Dow Scales New Heights Amid Crude SwingsThe Dow closed at a new record of 50285, gaining 0.6% after erasing early losses. This rally followed a sharp midday reversal in oil prices, with Brent crude falling over 2% as investors grew hopeful about progress in U.S.-Iran negotiations.Shares in the quantum computing sector soared after reports emerged of a $2 billion U.S. government funding plan to boost the industry.The Commerce Department announced $2 billion in funding allocated to nine quantum computing companies, including IBM, Rigetti, and GlobalFoundries, with the U.S. government taking equity stakes in return. The move signals a major federal commitment to next-generation computing infrastructure.NVIDIA shares declined nearly 2% despite the company reporting better-than-expected first-quarter results and issuing a rosy revenue outlook. Investors appeared cautious about the sustainability of its rapid growth amid intensifying competition in the AI chip market and a broader cooling of the recent artificial intelligence stock boom.Walmart reported impressive sales and profit growth, yet shares fell as investors fretted over the retailer's warning that rising fuel costs and a 3.8% inflation rate — outpacing wages for the first time — could pressure price-conscious consumers. The ongoing Iran conflict's impact on energy and supply chain costs added to the cautious outlook.Yields on the 10-year Treasury note slipped to 4.56% on Thursday, pulling back from recent highs that reached their most elevated levels since early 2025. The decline in yields was closely linked to the retreat in oil prices, providing relief to smaller companies in the Russell 2000, which outpaced major indexes with a 0.9% gain.Oil prices resumed their rally after declining for three straight sessions as investors remained sceptical about a breakthrough in US-Iran peace talks, with Iran's Supreme Leader earlier forbidding uranium removal. While statements from the U.S. had signalled the peace deal was imminent, the Iranian leadership’s reported stance of keeping enriched uranium within their country has raised worries of an extended conflict, keeping oil supplies disrupted for longer.Asia-Pacific markets opened higher Friday as investors assessed U.S.-Iran diplomatic efforts at reaching a peace deal in the Middle East.Over the last six trading sessions, Nifty has slipped into an alternating pattern of one session of gains followed by one of losses. Nifty opened 171 points higher on the back of strong global cues, touched its intraday peak of 23859 within the first few minutes, but failed to sustain momentum and reversed sharply. It declined more than 260 points from the high and eventually closed at 23654, down 4 points yesterday.Immediate support is now seen near 23,400. On the upside, a decisive close above 23,800 could trigger a pullback towards 24016.Indian markets are poised to open mildly higher on conducive global cues.

May 21, 20262 min

Opening Bell - 21 / 05 / 2026

Opening Bell - Morning CommentaryMarkets rally on Diplomatic Progress and Nvidia BeatMajor U.S. stock indexes surged on Wednesday, snapping a three-day losing streak as the Dow Jones reclaimed the 50,000 mark. This rebound was driven by a cooling in 10-year Treasury yields and a sharp decline in oil prices following reports of progress in diplomatic negotiations regarding Middle East conflicts.AI industry leader Nvidia reported first-quarter results that surpassed analyst expectations for both revenue and profit. Despite raising its dividend and providing a positive sales forecast. The company also announced an $80 billion share buyback, though shares slipped slightly in after-hours trading as investors weighed the results against extremely high market expectations.Crude Oil plunged more than 5% yesterday on optimism over a potential US-Iran agreement. President Trump stated the US is in the "final stages" of negotiations with Iran, stoking hopes for a near-term reopening of energy flows through the Strait of Hormuz, though the US military also boarded an Iranian oil tanker suspected of breaching the blockade.Federal Reserve minutes revealed that an increasing number of policymakers are open to a rate hike, as inflation concerns have been exacerbated by the ongoing conflict in Iran. The 10-year US Treasury yield has surged to a 15-month high above 4.10%, and a survey shows fewer than 50% of economists now expect a rate cut this year, down from two-thirds just a month ago.European Union negotiators reached a preliminary agreement on Wednesday to eliminate certain tariffs on US imports as part of a broader trade arrangement, ahead of a looming US deadline to increase tariffs on automobiles. The development marks a positive step in transatlantic trade relations and contributed to broader market optimism in the session.South Korean stocks rose more than 6%, helping the broader MSCI Asia Pacific Index gain 1.2%. Shares of Samsung Electronics climbed as much as 7% after the company reached a last-minute agreement with its labour union to avoid a strike.The US Dollar Index traded softer near 99.1, as improving market sentiment around US-Iran diplomatic progress weighed on safe-haven demand. The rupee closed 29 paise weaker at 96.83 against the dollar, marking a fresh all-time low. The sharp rupee weakness likely reflects persistent FII outflows, elevated crude prices, and safe-haven demand for the dollar amid global risk-off sentiment.Nifty registered a smart intraday recovery of nearly 300 points from the morning low of 23,397, finally settling at 23,659, up 41 points. Despite negative cues, Nifty has managed to absorb supply at lower levels and is forming higher lows on a short-term time frame. The rebound was largely supported by buying interest in the oil and gas, financial, and automotive sectors, offsetting broader weakness seen in Asian markets. Support for the index now moves up to around 23,370. A close above the 23800 resistance could extend the pullback towards the next resistance placed near 24,030.Indian markets are set to open higher on conducive global cues.