Indian markets look set for a bumpy ride this morning, with Gift Nifty trading at a 70-point discount around 22,873 – sending a clear signal that we’re in for some early turbulence. Yesterday’s session already had investors playing defense, with the Sensex shedding 203 points to close at 75,735, while the Nifty managed to hold its ground above 22,900.
Wall Street’s got the jitters too. Markets took a hit after retail giant Walmart dropped a bombshell with disappointing forecasts, sending its stock tumbling over 6%. The ripple effect was real – Target and Costco both felt the pain, sliding more than 2% each. When the dust settled, the Dow was nursing a 450-point wound.
Over in Asia, markets are looking shaky this morning. Trump’s latest tariff threats have traders on edge, with Japan’s Nikkei and South Korea’s Kospi both swimming in red ink. Though Hong Kong might buck the trend when trading kicks off.
The dollar’s having a rough time of it, heading for its third straight weekly loss. Meanwhile, the yen’s found its mojo, surging to levels we haven’t seen in two and a half months. Gold’s still glittering, eyeing its eighth weekly win in a row at $2,941 an ounce.
Oil’s the surprise package this week, staging its biggest rally since early January. Brent crude’s pushing toward $77, while WTI’s closing in on $73 – both up about 3% for the week as supply worries creep back into the picture.
Back home, market veteran Siddhartha Khemka from Motilal Oswal thinks the Nifty’s likely to play it cool around current levels, with 22,800-22,900 acting as a safety net. The market’s been bouncing around this range for seven sessions now, finding buyers whenever it dips.
The jobs picture in the U.S. adds another wrinkle – new unemployment claims ticked up to 219,000 last week, slightly above what the number-crunchers were expecting.
