Indian benchmark equity indices were mixed at pre-open on Tuesday, tracking weakness in other Asian markets, while mainland China markets surged after returning from a week-long
holiday.
At pre-open, the BSE Sensex was down 223 points, or 0.28 per cent, at 80,826, and the Nifty 50 was at 24,832, up 36 points, or 0.15 per cent.
Global Cues
Global stocks also began Tuesday on a cautious note while oil prices stayed elevated as the escalating conflict in the Middle East sapped risk appetite ahead of China’s highly anticipated reopening after a long holiday.
The benchmark 10-year US Treasury yield held above 4 per cent in early Asia trade, as a robust US labour market prompted traders to heavily scale back their expectations for Federal Reserve rate cuts.
Hezbollah on Monday fired rockets at Israel’s third-largest city, Haifa, and Israel looked poised to expand its offensive into Lebanon, one year after the devastating Hamas attack on Israel that sparked the Gaza war.
Heightened fears of a widespread conflict and disruptions to supply sent Brent crude futures surging above $80 a barrel for the first time in over a month in the previous session.
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