Indian markets set for cautious start as Nifty closes 24,056
Indian markets are set for a cautious start on Thursday, with Gift Nifty signaling a cautious opening.
After a roller coaster session on Wednesday, Nifty managed to close slightly higher at 24,056, bouncing back from an earlier low.
Oil surge and bond yields rise
Global markets are feeling shaky thanks to rising oil prices after US strikes on Iran.
Oil prices surged 6% to nearly $96 per barrel, which has everyone worried about inflation.
Bond yields in the US hit the highest level since January 2025 at 4.8%, and the 30-year yield climbed back to 5.28%, while bond yields in Germany and France hit multi-year highs, adding to the uncertainty.
Despite this pressure, Indian stocks showed some resilience, especially with support from big investors, even as financial stocks stayed under stress and midcaps saw profit-taking.