Global markets today: Amid crude oil prices holding at higher levels due to the escalation of the US-Iran war, global markets remain flat to negative. The key benchmark indices, except for Dow Jones futures, of the US stock market finished lower on Monday. In the Asian markets, most bourses are trading lower, adding to the risk-off tone. The South Korean KOSPI index is leading the rout, down around 1.75%. In the Indian stock market, the Gift Nifty live price is signalling a flat-to-negative opening, as the index is trading around 50 points below yesterday’s spot Nifty 50 close.
Highlighting the triggers that are expected to dictate global markets today, including Dalal Street, Ponmudi R, CEO at Enrich Money, said, “The latest escalation in the US-Iran standoff follows the expiry of the 60-day ceasefire window, with no further talks currently planned. Iran’s rial has fallen to a record low, while shipping activity through the Strait of Hormuz remains severely constrained, keeping uncertainty around energy supplies and the broader geopolitical outlook elevated.”
The Enrich Money expert said WTI crude oil remains firm near the $85-per-barrel mark, keeping energy prices a key concern for domestic equities.
US-Iran war news
The US has launched what it calls an “Economic D-Day” against Iran, with Treasury Secretary Scott Bessent announcing a sweeping new sanctions campaign that marks an intensification of economic pressure on Tehran.
Global markets equity heatmap
Here we list out the equity heatmap of the global markets today:
US stock market: Chip stocks weigh ahead of NVIDIA earnings
US equities closed lower on Monday as chip stocks came under renewed pressure ahead of a pivotal week featuring Nvidia’s earnings and the Fed’s Jackson Hole symposium. The S&P 500 fell 0.28%, and the Nasdaq Composite dropped 0.76%, while the Dow Jones Industrial Average bucked the trend, rising 0.26%.
AI hardware and memory-chip stocks led the declines across the Philadelphia Semiconductor Index, even as the US Treasury’s plan to potentially tap its $950 billion General Account to fund debt buybacks helped ease bond yields from recent highs.
Trump’s warning to raise tariffs on Canadian automobiles to 50% added further caution. Investors now await Nvidia’s results, due Wednesday, and Fed Chair Kevin Warsh’s Jackson Hole speech later this week for clarity on both the AI trade and the path of interest rates.
Asian markets today
Asian markets are trading broadly lower this morning as investors position cautiously ahead of Nvidia’s earnings and continue to weigh rising tensions in the Middle East following fresh US sanctions on Iran. Japan’s Nikkei 225 is down 0.10%, with the Topix marginally lower, while South Korea’s Kospi has dropped sharply by 1.90% and the small-cap Kosdaq is off nearly 2%. Australia’s S&P/ASX 200 is a modest outlier, up 0.35%.
Samsung Electronics declined more than 3% in early trade, while other large-cap chip names also led the Kospi lower as investors locked in recent gains ahead of Nvidia’s keenly awaited results on Wednesday.
Outlook for the Asian markets today
Mahesh M Ojha, VP — Research and Business Development at KC Securities, listed out the following outlook for the global markets:
Nasdaq
Resistance: 26050/ 26250/26390
Support: 25870/25560/25090
Dow Jones
Resistance: 53500/53720/54090
Support: 52900/52550/52325
Nikkei 225 index
Resistance: 66000/66590/66820
Support: 64950/64460/64150
KOSPI Index
Resistance: 6680/ 6800/6950
Hang Seng
Resistance: 25720/25940/26050
Support: 25370/25220/25020
Trend
Dow Jones Trend Sideways to bullish
European markets
European equities were largely flat to mixed on Monday, with the STOXX 50 and the broader STOXX 600 both little changed near 6,460 and 654, respectively, as investors stayed on the sidelines ahead of Nvidia’s earnings and the Jackson Hole symposium. Germany’s DAX was down 0.11%, and France’s CAC 40 fell 0.37%, while London’s FTSE 100 rose 0.35%.
Basic resources stocks were among the better performers as gold prices rose amid a weaker dollar, while the technology sector remained under pressure. Banks were mostly higher, helping trim losses from earlier in the week.
What does it mean for the Indian stock market?
Early indications from GIFT Nifty futures, trading in the 24,145–24,170 range against the Nifty’s previous close of 24,219, point to a flat-to-mildly weaker opening for domestic equities.
Expecting a flat-to-negative start for the Indian stock market, Ponmudi R of Enrich Money said, “Indian equity markets are expected to remain cautious following the weakness in the previous session.”
Nifty 50 to Sensex today: Outlook for the key indices
Speaking on the outlook for the Nifty 50 / Sensex today, Shrikant Chouhan, Head Equity Research at Kotak Securities, said, “A bearish candle on daily charts and a reversal formation on intraday charts indicate further weakness from the current levels. We believe that 24,250/77500 will act as an immediate resistance zone for the bulls.”
The Kotak Securities expert said that as long as the index trades below this level, the weak formation is likely to persist.
“On the downside, the market could slip to 24,000-23,950/76800-76500. On the flip side, above 24,250/77500, the market could bounce back to 24,350-24,400/77800-78000,” Chouhan added.
On the outlook of the Bank Nifty today, Vatsal Bhuva, Technical Analyst at LKP Securities, said, “Bank Nifty closed with a bearish candlestick on the daily chart, highlighting continued selling pressure near higher levels. The index remains in a consolidation phase, indicating indecision among market participants and a lack of clear directional conviction. Immediate support is at 57,300, marked by Monday’s low, while resistance is near 58,000, aligned with the falling trendline. Until a decisive breakout or breakdown occurs, the index is likely to remain range-bound. Hence, the 57,300–58,000 range can be traded with strict stop-losses.”
Disclaimer: This story is for educational and informational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified financial experts before making any investment decisions.
