S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
The yield on India’s 10-year G-Sec rose to around 6.95%, extending gains from the previous session to a twelve-week high as rising expectations of tighter monetary policy and elevated oil prices added to upward pressure on yields. Hawkish comments from Fed Chair Kevin Warsh lifted expectations of a September US rate hike, keeping US Treasury yields elevated and reducing demand for Indian debt. In the domestic market, investors remained cautious ahead of April-June GDP data, with stronger-than-expected growth potentially reinforcing expectations for RBI policy tightening. Meanwhile, Brent crude climbed back toward $90 a barrel, heightening inflation concerns and limiting the scope for monetary easing. The RBI’s August meeting minutes, which indicated that policymakers could consider rate hikes if inflation risks broaden, further dampened sentiment toward government bonds.
