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Informist, Wednesday, Apr. 29, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Most Asian markets fall as crude oil touches $121 per barrel

 

MUMBAI--0840 IST--Most Asian indices were in the red Thursday, tracking the subdued performance of their US counterparts, as crude oil prices climbed for the ninth consecutive day. Japan's broader-market Topix was the worst performer among its peers, followed by the Nikkei 225. Singapore's FTSE Singapore Strait was the only index among its regional peers to be in the green during early trade.

 

At 0830 IST, the June futures of Brent Crude Oil touched the $121-per-barrel mark as a report by The Wall Street Journal citing unnamed officials said that US President Donald Trump had instructed aides to prepare for an extended blockade of Iran. Further, Axios reported that Trump had rejected Iran's proposal to reopen the key shipping route Strait of Hormuz and had said the US naval blockade will remain until a deal that addresses US concerns over Tehran's nuclear programme is offered.

 

As markets in Japan resumed trade after a holiday, the Nikkei 225 shed over 1% as shares of banks and technology stocks dragged down the index. Shares of Mizuho Financial Group Inc. shed over 4%, while those of peers Sumitomo Mitsui Financial Group and Mitsubishi UFJ Financial Group slid 0.8% and 0.6%, respectively. Shares of semiconductor players Advantest Corp. and Tokyo Electron shed over 4% and 1%, respectively.

 

The Kospi slipped 0.4% during early trade after touching a record high earlier in the session. Heavyweight stock Samsung Electronics was down 0.8%.

 

Following were the levels of major Asian indices at 0835 IST:

 

Index	Level	Change in %
CSI 300 Index	4800.1902	(-)0.21
Hang Seng Index	25785.85	(-)1.25
Nikkei 225 Day	59304.62	(-)1.02
TOPIX FIRST SECTION	3714.92	(-)1.52
KOSPI	6655.65	(-)0.52
FTSE Singapore Strait Times	4892.61	0.65
S&P/ASX 200 INDEX	8665	(-)0.25

 

(Shruti Nair)

 

 

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Equity Alert: US mkts end mostly dn Wed; Fed holds rates steady as expected

 

MUMBAI--0755 IST--US indices ended mostly lower on Wednesday with the Dow Jones Industrial Average closing lower than its peers, and in the negative for the fifth consecutive session. The US Federal Reserve held the benchmark interest rate steady reflecting market expectations, even as the decision came from a divided Federal Open Market Committee. Inflationary concerns persisted as crude oil prices climbed to nearly $120 per barrel. 

 

The Federal Open Market Committee voted to hold the interest rates steady between 3.5–3.75%. Markets had priced in a 100% chance of no change in the rate. However, the Committee was at its most divided since 1992 with an 8-4 vote as four officials expressed dissenting views for varying reasons.

 

Meanwhile, incumbent Chair Jerome Powell said he would remain on the Board of Governors indefinitely even after his term as governor ends on May 15 until investigations regarding the renovation of the central bank's headquarters are concluded.

 

"With Powell choosing to stay on as a Fed governor, those in favor of cuts, including incoming Chair Kevin Warsh, are in the minority. Warsh is going to have a hard time convincing a majority to cut rates," Sonu Varghese, global macro strategist at Carson Group told CNBC in an email.

 

The earnings of four of the US Magnificent Seven technology majors came out post market hours on Wednesday. Shares of Meta fell modestly following the company's earnings report amid disappointing user growth. Shares of Microsoft closed over 1% lower even after the company beat estimates for its top and bottom line. Alphabet added 7% soon after beating revenue expectations, though it gave up these gains before closing marginally lower, while Amazon shares advanced over 1% on a surge in cloud computing revenue.

 

Following were the closing levels of major US indices on Wednesday:

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	48861.81	-0.57
NASDAQ Composite	24673.241	0.04
S&P 500	7135.95	-0.04

 

(Shruti Nair)

 

US$1 = INR 95.02

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Tanima Banerjee

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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